New Year’s Financial Resolutions for 2021
The start of a new year is a perfect time to set goals for the next 12 months, and this is no different when it comes to your finances. Here at Kara Accountants, we’ve come up with some resolutions that…
Fraudsters are targeting the Self Assessment deadline: What you need to know
Unfortunately, fraudsters are continuing to target taxpayers with scam emails in advance of the 31 January 2021 deadline for submission of Self Assessment returns. In the last year, HMRC has received more than 846,000 reports about suspicious HMRC contact. Here…
Business Asset Disposal Relief
What is Business Asset Disposal Relief? Business Asset Disposal Relief applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership, meaning that you’ll pay tax at 10% on all gains…
FCA Extends Mortgage Payment Holiday Applications Until 31st March
Last week, the Financial Conduct Authority (FCA) announced that they would be extending the deadline for mortgage payment holiday applications until 31st March next year. This means that homeowners whose finances have been affected by COVID-19 can apply for mortgage…
How Likely Is Brexit To Affect Your Industry in 2020-21 And Beyond
The UK officially left the EU at 23:00 GMT on 31 January 2020 after 47 years of membership. A transitional period is in place until 31 December 2020 during which time the UK and EU continue to trade as before,…
How to forecast your business during a pandemic
To say the Covid-19 pandemic has been an uncertain time for the economy would be an understatement. But, ensuring that your business is operating with an efficient cash flow and forecasting will help aid your business through these unprecedented times.…
How to save money while working from home during Covid-19
Why saving money is more important now than ever In 2019, the average household energy bill cost £1,184, according to an Ofgem report. This year, with more people than ever working from home due to the pandemic, this price…
New national lockdown and changes to business support measures
The Prime Minister, Boris Johnson speaking at a press conference on Saturday night, 31 October 2020, confirmed widespread expectations of a second national lockdown in England to help stem the growing resurgence of the coronavirus. The Government was faced with…
The new ‘Winter Economy Plan’.
The Chancellor, Rishi Sunak, has today delivered a statement to the House of Commons outlining plans to help protect jobs across the UK whilst the country faces a resurgence of coronavirus and a winter of uncertainty. The Chancellor was facing…
Making Tax Digital to be extended
The extension of Making Tax Digital (MTD) to cover businesses with a turnover below the VAT threshold and for certain individuals who file Income Tax Self-Assessment tax returns has been confirmed. A roadmap for Making Tax Digital has been set…