Category Archives: News
Spring Budget 2023 Update
On 15th March 2023 the Chancellor or the Exchequer delivered his spring budget. Here is a summary of the most important announcements. Corporation tax The corporation tax rate will increase from 19% to 25%, as planned, with effect from 1st April 2023. Businesses with profits below £50k will continue to pay tax at 19%, this […]
Continue readingHMRC VAT Penalty Regime changes
For accounting periods starting on or after 1st January 2023, HMRC has introduced a new penalty regime for late VAT submissions and payments. The new measures include separate penalties for late submission of VAT returns and late payment of VAT. There are also changes in the calculation of interest for late payments to HMRC. What […]
Continue readingSpring 2021 Budget Update
Coronavirus support Furlough scheme The government has extended the CJRS to the end of September 2021. Employees within the scheme will continue to receive 80% of their salaries for the hours not worked. For March, April, May and June the employer will continue to be able to claim the full 80% from the government, this […]
Continue readingDomestic reverse charge for building and construction services
What is it? The domestic reverse charge is a change in the way CIS registered construction businesses handle and pay VAT. It has been introduced as an anti-fraud measure, designed to cut down on “missing trader” fraud, where companies received high net amounts of VAT from their customers but have no intention of paying the […]
Continue readingCovid-19 update for the self-employed
The Chancellor has this evening announced a scheme to aid the self-employed at this difficult time. The main points to make you aware of are as follows: • The government will be making available a taxable grant to self-employed workers. • The grant will be for up to 80% of your average net monthly earnings […]
Continue readingCoronavirus COVID-19 Government Announcements
Here are some of the main announcements that the government have made and how they may affect you and your business. We are open and operating business as usual. Please Contact Us if you have any questions and we’ll be happy to assist. Coronavirus Job Retention Scheme The government has announced that it will pay […]
Continue readingChild benefit tax returns
If you receive child benefit and you or your partner earn over £50k a year you need to prepare a self-assessment tax return. Don’t find yourself in a situation like this single parent who ended up owing £12,000. If you aren’t sure whether this impacts you, or you know it does impact you and you […]
Continue readingHighlights from the 2020 budget
The 2020 budget was announced today on the 11th March. Below is a summary of some of the major points that could potentially impact our clients at Indigo Accounts: All those advised to self-isolate due to Coronavirus, regardless of if they have symptoms will be entitled to SSP (statutory sick pay). Self-employed workers affected by […]
Continue readingNew Website Launch!
Welcome to the new Indigo Accounts website! The new site will give you more information, including up to date news about Indigo and the accounting industry that might impact you; allowing you to access the optimised site whether on your PC, laptop, tablet or mobile. We’re still the same Indigo though, here for all your […]
Continue readingCause for Celebration!
We’ve made it to the end of another January with all our tax returns submitted. Thanks to all our lovely clients that brought their information in early in the year, helping to make it a much less stressful month for us.
Continue reading