News

News

This category aims to provide readers the most up-to-date news articles on UK taxation and accounting.

If you have any concerns or further questions that are not covered so far by the given articles, feel free to send us a message or book an appointment with our experts to discuss your concern. It’s an honor to help and guide you on this matter.

Fahad Lateef

Property Sales Hit New Records

The Chancellor of the Exchequer, Rishi Sunak, temporarily lifted stamp duty tax on the initial £500,000 of property buys in July of last year, and in March, he extended the exception by a further three months to the furthest limit of June.

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Tax Raid on Pensions
Fahad Lateef

Tax Raid on Pensions A Way Out of COVID-19?

A triplet of changes to pension contributions are being drawn up, including lessening the pensions lifetime allowance from just over £1m to around £800,000. Bringing down this limit has a significant impact, as pension savings are heavily taxed above this allowance

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Tax Credit Customers to Renew Claims
Fahad Lateef

Tax Credit Customers to Renew Claims

More than 440,000 annual tax credits, survey packs were sent to customers between late April and early June. Customers will have either gotten an ‘auto restoration update or a ‘reply required’ notice.

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Furlough Scheme
Fahad Lateef

The Furlough Scheme is Changing

UK government has extended the furlough scheme until the end of September. Chancellor Rishi Sunak confirmed the extension during his Budget announcement.

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Bounce Back Loan Scheme
Fahad Lateef

Bounce Back Loan Scheme (BBLS)

The BBLS is a Government-sponsored scheme, which permitted businesses influenced by COVID-19 to borrow money in specific circumstances. The Scheme is currently shut to new applications.

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VAT Deferral Scheme
Fahad Lateef

VAT Deferral Scheme: Choices and Penalties

Keeping in view the COVID-19 pandemic atrocities and cash-flow pressure off the businesses, the UK government announced to defer VAT payments. To support the business through the prevalent times, around £33.5bn of VAT payments were deferred between March 20, 2020, and June 30, 2020.

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Student Repayment Loan
Fahad Lateef

Student Repayment Loan | Latest Updates

Students can ask for a loan from respective government to bear burden of their academic expenses. But, of course, different terms and conditions apply to these loan policies as they vary according to the amount demanded or according to the academic step.

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Junaid Usman

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Importance of Accounting for Your Ecommerce Business

Importance of Accounting for Your eCommerce Business 

Accounting has always been the lifeblood of many businesses. Here are things every eCommerce business should know about it, including its types, how it differs from bookkeeping, its purpose, the need for an accountant, what financial records to keep, and how long those records should be kept.

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