Relative Accountancy Limited

Relative Accountancy Limited Change your view of accountancy, with Relative

New penalties will apply if you are late filing a vat return or paying your vat bill.LATE FILING 📤📄The new late filing p...
03/01/2023

New penalties will apply if you are late filing a vat return or paying your vat bill.

LATE FILING 📤📄
The new late filing penalties will be points based, with taxpayers receiving a point for each VAT return they file late. Once the taxpayer’s total number of points reaches a certain threshold, a fixed £200 penalty will be charged. The late submission penalty points threshold will vary according to your submission frequency. (Table on pic 2)
Once a taxpayer reaches their penalty threshold, each and every additional late VAT return will trigger a further £200 penalty.

LATE PAYMENT🕒💷
There will be two separate penalties, based on how late payment is:
A first penalty of 2% of the VAT unpaid at day 15, and a further 2% of the VAT unpaid at day 30.
A second penalty starting at day 31, charged daily based on an annual rate of 4% of the outstanding amount.

21/12/2022

Merry Christmas and Happy New Year ✨🎄
Our office will be closed from Thursday 22nd of December 5pm - Tuesday 3rd of January 9am

IMPORTANT UPDATE ON MAKING TAX DIGITAL ❗📣Self-employed individuals and landlords will have more time to prepare for Maki...
20/12/2022

IMPORTANT UPDATE ON MAKING TAX DIGITAL ❗📣

Self-employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), following a government announcement yesterday the 19th December 2022

This means that sole trader businesses and landlords will not be required to do quarterly reporting as originally planned from April 2024

◾️ A two-year delay until April 2026 for mandatory MTD ITSA filing.
◾️ Minimum income reporting level increased to £50,000, with those earning more than £30,000 mandated to join the scheme in 2027.
◾️ The situation for landlords and sole traders earning less than £30,000 will be reviewed to see if MTD ITSA can be shaped to meet the needs of smaller businesses.
◾️ Partnerships will not be brought into MTD for ITSA as previously planned in 2025.
◾️ Points-based penalty system to be extended to MTD ITSA filers when they join

Further information can be found below,
www.gov.uk/government/news/government-announces-phased-mandation-of-making-tax-digital-for-itsa

13/12/2022

Rachael Stalley is making up some time today after getting slightly behind schedule, these stops are coming around really quickly!

That said, the conditions are not the best; frosty ground and sub zero temperatures plus battling sciatica.

Rachael is going strong on her Street2Feet 75k challenge and ploughing on!

This her is with stop number five, The Design Bank with colleagues from Acumen Designers and Architects and Relative Accountancy Limited.

If you would like to support, please visit:

https://www.gofundme.com/f/the-howarth-foundation?qid=8b6a5f9043e0cdea94304a38d4171290

When gifting your employees, choosing the right gift can be tricky – especially for a small business When rewarding your...
01/12/2022

When gifting your employees, choosing the right gift can be tricky – especially for a small business

When rewarding your staff, keep in mind some gifts have tax implications

Here are some things worth remembering when gifting as a business

You do not have to pay tax on the gift if:
🎁 It costs £50 or less
🎁 It is not cash or a cash voucher
🎁 It isn’t a reward for their work performance
🎁 It isn’t in the terms of their contract

24/11/2022

We’re almost two months away from the self assessment filing deadline of 31/01/23. Are you on top of yours?
Give us a call if you need any assistance on 01484 441431

Address

Headrow House, 19 Old Leeds Road
Huddersfield
HD11SG

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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