Godfrey  Anderson & Co Chartered Accountants

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Employing staff for the first time?

16/05/2024

There are a number of rules and regulations that you must be aware of when you employ staff for the first time. HMRC’s guidance sets out some important issues to be aware of when becoming an employer. Decide how much to pay someone - you must pay

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Register an overseas company

16/05/2024

An overseas company must register with Companies House if they want to set up a place of business in the UK. This would mean that the overseas company has a physical presence in the UK through which it carries on business. If an overseas company

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Beneficial tax-exempt loans

16/05/2024

An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial rate the employee would have to pay on a loan

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Closing a limited company

16/05/2024

There are a number of reasons why you may need to close your limited company. This could be because the company structure no longer suits your needs, your business is no longer active, or the company is insolvent. You will usually need the agreement

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Check a VAT number

16/05/2024

The Check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number. This service allows users to check: if a UK VAT registration number is valid; and the name and address of the registered business. The service also allows UK

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Deferring National Insurance payments

16/05/2024

Employees with more than one job may be able to defer or delay paying Class 1 National Insurance in certain circumstances. This deferment can be considered when any of the following apply: You pay Class 1 National Insurance with more than one

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Customs declaration deadline

13/05/2024

A reminder that businesses must submit all export declarations through the Customs Declaration Service (CDS) by 4 June. Businesses exporting goods have less than one month left to move across to the CDS, HM Revenue and Customs (HMRC) announced

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Company names – new regulations

13/05/2024

A recent post by Companies House confirmed that they are now using new powers to challenge the registration of certain company names. Extracts from their recent blog post is reproduced below: “New powers to challenge company names These

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Time to renew tax credits

09/05/2024

HMRC is currently sending the annual tax credit renewal packs to the 730,000 tax credit claimants and is encouraging recipients to renew their tax credits claim online. HMRC started writing to taxpayers on 2 May and expects all packs to be with

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Act now to claim dormant funds

09/05/2024

The Ministry of Justice has published an urgent warning for anyone with unclaimed dormant funds held by the Courts Funds Office (CFO). Recent changes in legislation have changed the rules for individuals or entities with dormant funds held by the

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Check if HMRC contact is genuine

09/05/2024

HMRC’s published guidance titled ‘Check genuine HMRC contact that uses more than one communication method’ has been updated. The list is intended to help taxpayers check if recent contacts purporting to be from HMRC are actually a scam. The guidance

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How to claim R&D expenditure credit

09/05/2024

In the Autumn Statement last year, it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme would be merged from April 2024. The merged scheme R&D expenditure credit (RDEC) and enhanced R&D

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Do you need to register for Economic Crime Levy?

09/05/2024

The Economic Crime Levy is a levy that applies to businesses that are already regulated for anti-money laundering purposes. Your business must register if your UK revenue is £10.2 million or more in a financial year and: Your business is already

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Lifetime transfers and liability to IHT

09/05/2024

There are special rules concerning the liability to IHT of a transfer made during a lifetime. For example, most gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially

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Tax Diary June/July 2024

07/05/2024

1 June 2024 - Due date for corporation tax due for the year ended 31 August 2023. 19 June 2024 - PAYE and NIC deductions due for month ended 5 June 2024. (If you pay your tax electronically the due date is 22 June 2024). 19 June 2024 - Filing

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Cyber protection laws introduced

07/05/2024

New consumer protections against hacking and cyber-attacks came into force at the end of April 2024. All internet connected smart devices will be required by law to meet minimum-security standards. Manufacturers will be legally required to protect

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New Companies House powers

07/05/2024

The recently introduced Economic Crime and Transparency Act has gifted Companies House a range of new powers aimed at reducing exploitation by corporate entities to pursue illegal enterprise. The aim of the new reforms are: Introducing identity

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VAT boost to charitable donations

02/05/2024

The government is looking to introduce a new relief that would provide a VAT boost to charitable donations. The new VAT relief would be designed to encourage businesses to donate everyday items to charities without creating a VAT liability. A 12-week

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Unit 6, Portland Business Centre
Manor House Lane
Datchet
Berkshire
SL3 9EG

01753 910700
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