Blog
Are you thinking of working abroad remotely?
The pandemic has made a lot of employees and employers open to the idea of remote working. As a result, we have been receiving increasing numbers of enquiries concerning the tax implications of working for an overseas employer. This typically happens in one of two...
Online P11D and PAYE Settlement Agreements (PSA) – are you ready?
The deadline for filing the 2022/23 P11D forms to report benefits in kind provided to directors and employees is 6 July 2023. You also need to report how much Class 1A National Insurance (NI) you owe on a P11D(b) by the same deadline and pay the...
Important Update on Research & Development Tax Credits
R&D tax credits are a great way for UK businesses to reduce their corporation tax liability in return for investing into research and innovation. This is either as a reduction in their Corporation Tax bill or as a cash lump sum if the company...
Can a Salary Sacrifice Arrangement reduce Income Tax and NIC’s?
Many employers and their employees are considering swapping some of their salary for either tax-free benefits or benefits that have a low tax and NIC charge (for example an electric company car). All this needs to be done with care and...
How Green is your business?
Adopting ESG (Environmental, Social and Governance) standards that measure how green your business is beneficial to the environment, the wider community and potentially, your bottom line! The three core pillars of ESG are: • Environmental — how does...
Reasons to file your Tax Return early…
Filing a Tax Return can be time consuming and stressful for everyone – especially if it’s left until December/January to complete. Our inboxes are being bombarded with information from employers, financial institutions and rental agents – information we’ll need...
Payroll – Updated rates and thresholds for employers 2023/2024
As a business owner with employees are you aware that from April 2023 the National Minimum Wage and several statutory payment rates increased for the 2023-24 financial year? Detailed below updates: Statutory Maternity, Paternity, Shared Parental and Adoption Pay ...
Happy New Tax Year
We all know we’re going to be paying more tax from now onwards. The Personal Allowance and basic rate band threshold have been frozen for the next five years until 5 April 2028. As earnings increase over time, you may find yourself moving into a higher rate tax band...
Budget announcements that weren’t announced: Changes to Trust taxation
Changes to Trust taxation As we quite often find, the Budget speech and corresponding headlines don’t cover all of the actual Budget proposals. Following a consultation earlier in the year, the Government has announced that it will be legislating the proposals...
Anticipating losses? Claim Corporation Tax Relief for your losses earlier!
If your company is anticipating losses in its current accounting period - due to the impact of COVID - you could claim Corporation Tax Relief for losses earlier. Losses could be carried back against the previous year to generate a Corporation Tax refund - but how can...
What is ‘Tax Day’?
Today 23 March 2021 we are expecting the Treasury to publish a host of consultation papers that may well propose long-term changes in UK tax policy. Much of this is expected to be about the administration of our tax system but some no doubt will propose tax changes....
Budget 2021: What it means for you your family and your business
Those of us that are working in the office today listened with baited breath to the Chancellor's 2021 Budget announcement. We all know that Coronavirus has fundamentally changed the way we live. Our economy has shrunk to its lowest level in over 300 years - it's going...
The end of 2020/21 is fast approaching – what should I be thinking about?
If your Income Tax is still owing for 2019/20 - you'll not be charged the initial 5% late payment penalty if you settle your tax liability – or set up a payment plan with HMRC – by 1 April 2021 You should also Make plans to manage your tax...
Off-Payroll working from April 2021 & how it could affect you
Employers must run a PAYE scheme and settle Income Tax and National Insurance Contributions (NICs) on an employee's pay. Historically these PAYE costs were often avoided by engaging private contractors directly rather than as employees. However anti-avoidance...
Changes to late filing penalty for 2019-20 Self Assessment returns
Today HMRC announced that anyone required to complete a Self Assessment for 2019-20 will not receive a penalty for filing their tax return late as long as they file their tax return online by 28 February. However we are still advising our clients who have not yet...
Tax planning advice for year end 2020/21
Whilst we are expecting to receive more information on the economic support available in light of the coronavirus pandemic will we see tax rises - despite the governments pledge not to raise Income Tax VAT or National Insurance during their current term of office? The...
Is your 2020 Tax Return still outstanding?
Despite professional bodies lobbying HMRC to extend the 31 January 2021 Tax Return filing deadline due to the impact of the pandemic sadly their efforts have been in vain and 2020 Tax Returns submitted after 31 January 2021 will still incur the £100 late filing...
Virtual Christmas parties and tax-free gifts for your employees
While we may not be able to get together for our annual Christmas Party this year that does not mean Christmas is cancelled. December is usually the month when many companies would be enjoying their Christmas Parties and thanking staff for all their hard work...
A new fast-track Coronavirus Bounce Back Loan scheme has been announced this week to help small and medium sized businesses. It's 100% guaranteed by Government and no interest or repayments will be due for the first 12 months. Loans of up to £50,000 should be... HMRC have announced that the portal to enable employers to reclaim the 80% of wages (and associated costs) for furloughed employees will be operational from 20th April. This should help ensure that the majority of businesses have the funds, in their account, to enable... The emotional and economic situation we all find ourselves in due to Coronavirus is totally unprecedented. We are all feeling the impact and our thoughts go out to all our clients, contacts, colleagues and their families at this uncertain time. Life, as we knew it, is... Our new Chancellor has delivered the long-awaited Budget after less than a month in office. Rishi confidently announced measures to address the economic challenge of COVID-19 whilst delivering a budget that provides 'security today' and a 'plan for prosperity'... Most accounting software is now cloud-based but how do you know what is right for you? We started our journey with digital technology 8 years ago when we were looking for a cloud-based accounting system for our business clients. We spent time considering the various... For many of us, when we hear the words artificial intelligence or machine learning we immediately conjure up the notion of human-like robots taking over the world and forcing the slow demise of the human race, as we know it. While these concerns may have their roots... Technology has changed our world and is continuing to do so at an ever-increasing pace. Running a business is not immune to the advancement of artificial intelligence and machine learning; especially the bookkeeping and accounting function. Computers are so much... Small businesses have more access to technology than ever before! The development of software as a service market in the cloud has allowed small businesses to access high-powered software for small monthly fees, which in the past, would have required large capital... From April 2020, many of you who supply your services through a personal service company to large and medium sized businesses may find your fees are paid after Income Tax and National Insurance has been deducted. Under the new Off-Payroll Working (IR35) rules, it will...
More financial support available to everyone during the Coronavirus outbreak
The Coronavirus Job Retention Scheme Portal is now live and The Chancellor extends the scheme to 30 June 2020
Supporting you and your business from the impact of Coronavirus
2020 Budget review: Whatever it takes to support the UK Economy
CKLG’s digital accounting journey.
Unlock your business potential with digital accounting
For small businesses cloud-based accounting systems are the way forward
Growing businesses embrace technology to thrive and enable VAT Making Tax Digital
The introduction of ‘Off-Payroll Working (IR35)’ how will it affect you?
Get in touch
Please note we do not give free advice by email or telephone.
Phone
Find Us
9 Quy Court, Colliers Lane, Stow-cum-Quy, Cambridge, CB25 9AU