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Making Tax Digital: preparing accountants for MTD

Next year sees the rollout of the extension to Making Tax Digital for self-employed people, which means accountants need to start preparing their clients, explains Lee Murphy, managing director at…
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HMRC advisory fuel rates from 1 September 2021

HMRC have published company car advisory fuel rates for use from 1 September 2021. The rates apply when employers reimburse employees for the cost of fuel for business travel in…
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Small businesses urged to cut carbon emissions

UK Net Zero Business Champion, Andrew Griffith MP, has sent a letter to industry sectors encouraging smaller businesses to cut emissions in half by 2030 and commit to net zero…
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Accountants must play key role in application of AI

As artificial intelligence (AI) becomes more mainstream accountants need to lead the way in adopting it as part of environmental, social and governance (ESG) reporting, says the Association of Chartered…
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91% of SMEs support change to tax year

 A survey by accountancy firm BDO found that 91% of mid-sized businesses overwhelmingly support a change to the tax year from 4 April to 31 December. Nine out of 10…
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Impact of Covid-19 pandemic on transfer pricing

Previously accepted comparables used for establishing a company’s transfer pricing policy might not be comparable due to the impact of the pandemic, warn David Whitmer, transfer pricing practice leader and…
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HMRC must incentivise business R&D spending

Reform of the overly complex research and development (R&D) tax credits system is long overdue and would release funding for innovation, argue Daniel Kyle, James Rolfe and Steven Smith, senior…
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Cryptoassets for businesses – tax implications

The tax implications of buying, using and selling cryptoassets from the point of view of a person (an individual or a company) carrying on, or intending to carry on a…
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Combatting late payment

Late payment continues to be a chronic problem small enterprises face. As the business community looks forward to a post-pandemic trading landscape, we look at what practical steps can be…
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STEP warn all small businesses drawn into MTD in April 2023

The Society of Trust Practitioners (STEP) has claimed that HMRC’s proposals to reform accounting basis periods will push all small businesses and landlords into the Making Tax Digital (MTD) income…
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