The rate of development of the Coronavirus (Covid-19) has created an unprecedented atmosphere of uncertainty, which has led to self-isolation, partial travel bans, bans on mass gatherings and panic buying. It will also have a significant effect on small businesses like ours, and the clients we provide services to. In the current climate (as from …
The Chancellor Rishi Sunak delivered his first Budget on 11th March 2020. It was against the backdrop of the development of the Coronavirus, which has turned into a pandemic and is potentially going to have a huge impact on the fabric of society over the coming months. For this reason, there were some business friendly …
Merry Christmas! We would like to wish all our clients a Merry Christmas and a Happy New Year. Opening Times Our office will close at 1.00 p.m. on Friday 21st December and reopen for business on Wednesday 2nd January 2019.
The dividend tax was introduced in April 2016 and the first tax year it related to was 2016/17 (year to 5 April 2017). We have now gone through the cycle a couple of times. It is currently 7.5% if you are a basic rate taxpayer, 32.5% if you are a higher rate taxpayer, and 38.1% …
Here’s my story about how I was invited to the House of Lords to talk about Making Tax Digital for VAT. The issue of Making Tax Digital (MTD) has been with us for a couple of years now. This is HM Revenue and Customs (HMRC) dictating how taxpayers should send information to them. It was …
From 1st April 2019, if you have a VAT registered business with a taxable turnover above £85,000, HM Revenue and Customs (HMRC) are introducing some important changes which will affect you. They are introducing Making Tax Digital for VAT (MTDfV). These may have a significant effect on how you do your bookkeeping. From your first …
As you may know by now the General Data Protection Regulation (GDPR) will come into effect on 25 May 2018. It has been covered in the media and the panic it has caused is similar to the millennium bug. There is no need to panic; however, there is some misinformation out there that we’re concerned will be …
HMRC launched a scheme 8 months ago (September 2017) called the Growth Support Service. The service was set up to provide advice from a dedicated tax expert to British Companies with a turnover of more than £10m or more than 20 employees. It is estimated that there are 170,000 such companies. The intention of the scheme …
We have updated our privacy policy. It can be found by clicking here. Also, the policy is reproduced below. ___________________________________________________________________ This privacy policy sets out how GBM Accounts Limited uses and protects any information that you give GBM Accounts Limited when you use our company. Introduction GBM Accounts Limited is committed to ensuring that your …
If you don’t believe that HMRC make mistakes, read this! We act as agents with our client’s dealings with HM Revenue and Customs (HMRC) and sometimes they get it wrong. A recent incident has highlighted how easy this can be. We had finished a VAT return for a client, ABC Contracting Limited (*), and went …