Latest Accounting News from CIGMA Accounting
BEST AND WORST BANKS IN GREAT BRITAIN If you're in the market for a new bank, whether for your personal or business needs, you'll want to take a close look at the latest rankings. Recently, a comprehensive survey in Great Britain asked current account holders to rate their providers on various metrics, such as online … Continue reading The Best and Worst Banks in Great Britain Revealed
Money laundering is the process of hiding or obscuring the fact that money was obtained through illegal activity. This means making money that has come from things like drug trafficking or extortion look as though it was made by some legal business, like a restaurant. Many businesses are monitored by the Financial Conduct Authority (FCA) … Continue reading Register for money laundering supervision
Avoid fines, register as a childminder The UK Government takes childcare seriously, and requires that those providing childcare services are registered for the safety of workers, parents, and children.If you provide childcare services outside of a home, such as a creche, you will be subject to different rules. But for those providing care in the … Continue reading Avoid fines, register as a childminder
The Register of Overseas Entities came into force in the UK on 1 August 2022. The register is held by Companies House and requires overseas entities that own land or property in the UK to declare their beneficial owners and / or managing officers. This compliments the current HMRC Worldwide Disclosure Facility (WDF), aimed at … Continue reading New transparency regulation for overseas property owners
START-UP LOAN SCHEME SUCCESS? PREDICATABLE WORKING HOURS RECORD NUMBER OF TAX PAYERS FILE ON TIME LATE TAX PAYMENT INTEREST RATE INCREASE BECOMING AN AUTHORISED ECONOMIC OPERATOR CHANGE IN APPROVED ISA MANAGERS LIST The week of 13 February 2023 has seen positive reports from HMRC about its Start-up Loan Scheme and a record high of on-time … Continue reading Start-up loan success and new work hours rules - HMRC updates Feb Q2 2023
Tax avoidance schemes involve bending the tax rules to gain an advantage never intended by Parliament. This is usually done by making contrived and artificial transactions that serve little or no purpose except for reducing the amount of tax paid. Often, these are umbrella companies or payment middlemen who promise that you will end up … Continue reading UK Tax avoidance schemes and how to spot them
The new business Energy Bills Discount Scheme will replace the current Energy Bill Relief Scheme which is coming to an end on 31 March 2023. The new scheme will offer support to eligible non-domestic energy customers (i.e. businesses, rather than private residences) from 1 April 2023 to 31 March 2024. This includes UK businesses, the … Continue reading New business Energy Bills Discount Scheme
Making Tax Digital (MTD) for income tax self-assessment is coming soon! Make sure you know what it's all about...
