NEWS
Explore our blog - you'll discover a selection of useful accounting news articles and all the latest updates from MATCH Accounting.
Xero PayPal bank feeds need updating by 19 May 2022
If you use Xero accounting software and have a PayPal bank feed, read on ahead. Otherwise, feel free to sit this one out. Existing PayPal bank feeds will no longer be supported and will stop importing transactions into Xero from 19 May 2022. You will need to switch to the new PayPal feed to…
Self Assessments – Why do I need to do one?
Self Assessment is a system HM Revenue and Customs uses to collect Income Tax. While tax is usually deducted automatically from wages, pensions and savings; other income must be reported in a tax return once a year. Not sure what counts as other income or what you could deduct? Just let us know and we…
Automatic Enrolment Pension Duties
Under the Pensions Act 2008, every employer in the UK must put certain staff into a workplace pension scheme and contribute towards it. This is called ‘automatic enrolment’. If you employ at least one person you are an employer and you have certain legal duties that begin on the day your first member of staff…
Corporation Tax Changes from 2023: Plan Ahead
Companies currently pay corporation tax on their profits at a rate of 19%, regardless of the level of those profits. While this will not increase in 2022, new rules come into effect from 1 April 2023 and, for some companies, the rate of corporation tax will rise to 25%. The new regime From…
Annual P11D Forms Can Now Be Submitted
Submission Deadline: 6 July 2022 Payment Deadline: 22 July 2022 Online Are you an employer providing taxable benefits to employees? The last tax year has now ended, meaning it’s time to complete your annual P11D forms for any expenses and benefits provided to employees and directors between 6 April 2021 – 5 April 2022. …
Spring Statement 2022
The Chancellor made his annual Spring Statement speech on 23 March where he set out the Government’s tax plan to support the UK economy, businesses and families in both the short and the medium term. Now the dust has settled let’s review what’s going ahead and what it means for you. Key announcements include:…
Reduced VAT for Hospitality Ends Today
Since the 8th of July 2020 the government put in place a temporary 5% reduced rate of VAT (usually 20%) to certain supplies relating to hospitality, hotel and holiday accommodation and admission to certain attractions. On 1 October 2021 this was raised to 12.5% and will end TODAY 31 March 2022, going back up to…
Making Tax Digital for VAT Compulsory from April 2022 Reminder
Currently, only VAT-registered businesses in the UK with taxable turnover above £85,000 are required to submit their VAT returns using ‘functional compatible software’ and store their VAT accounting records digitally. From 1st April 2022, all VAT-registered businesses will be required to comply regardless of their taxable turnover. Those businesses will need to follow the Making…
Are You Ready For The New Tax Year 2022-2023?
From 1 April 2022 there will be new rates for National Insurance, National Living Wage/National Minimum Wage and statutory payments, changes to expenses and benefits, and Student Loan deductions. Ensure you are ready to make the necessary changes to your payroll records, send your final Full Payment Submission (FPS) and issue P60s to employees. If…