Spring Statement 2022 – Key Announcements For Businesses

Key announcements for businesses

Businesses are facing a challenging time with soaring energy costs, disruption to supply chains, interest rate increases, wage inflation and recruitment challenges with currently 1.3 million vacancies across the UK. The Chancellor set out in the Mais Lecture the Government’s focus to address these issues. Capital – cutting and reforming taxes on business investment to encourage firms to invest in … Read More

Spring Statement 2022 – Income Tax & National Insurance

Individual

National Insurance Sunak says the planned 1.25% rise in national insurance contributions must remain, as a “dedicated funding source” for health and social care.  In 2022/23 the rate of primary Class 1 NICs for employees charged on their earnings, the rate of secondary Class 1 NICs for employers charged on their employees’ earnings, and the rate of Class 4 NICs … Read More

Key tax & accounting deadlines to 31 May 2022

With the end of the tax year approaching, here’s a reminder of the approaching tax & accounting deadlines affecting businesses. March 2022 1 March – Deadline for corporation tax payment for accounting period ended 31 May 2021 1 March – Updated advisory fuel rates published 7 March – VAT returns and payments for quarter ended 31 January 2022 14 March … Read More

Advisory Fuel Rates From 1 March 2022

Fuel rates from 1 March 2022

From 1 March 2022, the advisory fuel rates to be used by employees when claiming back mileage using a company car are as follows: Engine size Petrol – rate per mile LPG – rate per mile 1400cc or less 13 pence 8 pence 1401cc to 2000cc 15 pence 10 pence Over 2000cc 22 pence 15 pence Engine size Diesel – … Read More

Crypto assets – have you received a ‘nudge letter’ from HMRC?

crypto assets

We’re seeing an increase in ‘nudge letters’ sent by HMRC to taxpayers suspected of holding crypto assets. The rise of the nudge letter Under increased powers of access, HMRC now works with a larger number of external organisations, exchanging and receiving information about taxpayers’ financial interests. Letters are being sent to taxpayers believed to hold crypto assets based on data … Read More

Key tax & accounting deadlines to 31 December 2021

Tax Reliefs 2021 - 2022

Moving towards the notoriously busy festive season, here’s a reminder of the approaching tax & accounting deadlines affecting businesses. October 2021 1 October – The SDLT nil rate band reduces from £250,000 to £125,000 14 October – deadline for furlough claims 14 October – CTSA quarterly instalments due for large companies with a year end March, June, September or December … Read More

Employer Bulletin from HMRC

HMRC has this week published a handy ‘Employer Bulletin’ packed full of information to help employers fulfil their tax obligations. The information includes: New helpline numbers RTI top tips Info on pension auto enrolment Tax credits Toolkits to reduce errors plus a range of other useful topics. Curo’s payroll department can assist and advise on your obligations in this area … Read More

Curo Chartered Accountants grows by five new recruits

Worcestershire-based Curo Chartered Accountants continues to grow at a rapid pace and has recently added five new recruits to its award-winning practice. The team is now strengthened by further experienced technical staff for both the audit and taxation offerings. Says Partner Anna Madden “We’ve been fortunate to recruit some excellent regional talent, including another ex ‘Big 4’ auditor and a … Read More

Julia’s day at the polo

Julia Whelan recently enjoyed herself at the Polo in Cirencester and got to see Princes Harry and William in action. It wasn’t all play though as Julia took made herself useful at half time replacing divots! Many thanks to English Mutual for organising some great hospitality. Pictured are the Princes after the game, plus Julia with a little helper replacing … Read More

Claiming capital allowances on historic expenditure

We were recently asked about claiming tax relief on capital expenditure which had been incurred in previous accounting periods. This form of tax relief is known as ‘capital allowances’ and is available on qualifying expenditure, such as plant, machinery, office equipment and various types of vehicle. Capital allowances are claimed in the tax return for which the filing date is … Read More