2024-04-11 07:41
Taxpayers with eligible children need to opt back into child benefit within three months if they were affected by the old £50,000 high income child benefit charge.
The sourc… Read More
Blog Directory > Business Blogs > David Howard business Blog >
2024-03-07 09:37
Jeremy Hunt’s second full budget was very clearly delivered yesterday in the shadow of a general election, with the speech and policies designed to put the Conservative Party on… Read More
2023-12-05 10:41
This measure will only affect businesses which operate as self-employed traders, partnerships or other unincorporated entities such as trusts and estates and non-resident companies and… Read More
2023-11-28 12:00
Like all trading organisations in the UK, charities and social enterprises are subject to taxation on some of their financial activities. It isn’t the case that charitable organi… Read More
2023-11-23 09:20
2023-11-14 09:53
With expansion of the ULEZ zone this year, there are increasing reasons to consider electric and low emissions cars, particularly for companies where the tax benefits are now significa… Read More
2023-10-18 11:00
UK charities are subject to a range of annual reporting and accounting obligations, which differ from those of private sector businesses. An annual report is an official document that… Read More
2023-09-14 11:00
For small UK charities, hiring a specialised accountant is an important step in ensuring the financial success and compliance of your organisation. A specialised accountant with experi… Read More
2023-08-24 09:32
The main rate of corporation tax (CT) jumped from 19% to 25% with effect from 1 April 2023 and will be a substantial increase in the tax burden to most companies Read More
2023-08-10 09:30
If you own or manage a charity or social enterprises registered in the UK, it is important to understand whether or not your accounts need to be independently examined or audited. Gene… Read More
2023-05-16 08:36
Following the review of R&D tax reliefs launched at Budget 2021, the government announced the measures and support to create ‘a new culture of enterprise’, with one of… Read More
2023-05-01 13:23
Income Tax Allowances
2023/24
2022/23
Personal allowance*
£12,570
£12,570
Personal savings allowanceBasic-rate tax payerHigh… Read More
2023-04-28 14:17
We are delighted to announce that David Howard will be moving to a new office in Leatherhead, Surrey, on 1st May 2023. Our new location at Riverbridge House, Fetcham Grove, Guildford R… Read More
2023-04-21 07:39
In the 2021 Budget it was announced that Corporation Tax will increase from 1 April 2023. This decision was reversed and then re-instated in the two budgets of autumn 2023 Read More
2023-03-03 07:53
If you are exchanging contracts to dispose of residential property in the next couple of months and within Self Assessment you may save yourself the burden of filing a UK Property… Read More
2023-01-19 11:00
Xero is a superb accounting platform for small businesses, featuring a wide range of bookkeeping, reporting, and financial planning tools for business owners of all levels of accountin… Read More
2023-01-05 12:00
Once your turnover from self-employment or through your SME reaches or exceeds £85,000 per annum on a rolling 12-month basis [1], you will need to register with HMRC for Value Ad… Read More
2022-12-20 12:34
The government announced yesterday in response to urgent calls from a number of professional bodies and software representatives, that the proposed timing of for Making Tax Digit… Read More
2022-11-14 16:49
Balancing books, recording transactions, and filing tax returns are all essential to operating a successful business, but many SME business owners and sole traders don’t have the… Read More
2022-10-18 08:45
Yesterday, the new chancellor Jeremy Hunt announced major revisions to the Growth Plan, initially announced by ex-chancellor Kwasi Kwarteng Read More
2022-09-30 13:27
If you are a sole trader, self-employed contractor, or start-up company director, and completed your first year of trading in 2021/2022, your first Self-Assessment (SA) tax payments wi… Read More
2022-09-26 09:20
Kwasi Kwarteng has announced the biggest bundle of tax cuts since 1972 in his first fiscal statement as Chancellor Read More
2022-09-13 13:57
From the 19th September 2022, employers will be able to set up a variable direct debit scheme for paying PAYE liabilities meaning no more manual PAYE and national insurance payments to… Read More
2022-09-07 15:03
As part of the March 2019 Budget, it was announced that corporation tax would be increased from April 2023. We detail below an overview of these changes Read More
2022-05-11 12:22
Using a group structure for small companies can be incredibly useful for both tax planning and risk management but what is a group and under what circumstances might they be useful? Read More
2022-03-24 08:35
The Chancellor made his annual Spring Statement speech yesterday where he set out the Government’s tax plan to support the UK economy, businesses and families in both the shor… Read More
2022-03-23 17:11
As an invoice processing and management system, DEXT is hard to beat. It has the potential to increase efficiency, improve accuracy, and encourage productivity, but is it right for… Read More
2022-03-17 15:46
This measure will only affect businesses whi operate as self-employed traders, partmerships or other unicorporated entities such as trusts and estates and non-resident companies and… Read More
2021-12-06 10:06
HMRC's vision to digitalise the UK tax system is well underway. The transformation started in April 2019 with Making Tax Digital (MTD) VAT for businesses with taxable turnover ab… Read More
2021-12-02 12:00
The last 18 months 2020 has not been the most comfortable period year for small businesses, with many forced to reduce or cease trading due to the nationwide lockdown, and the UK fa… Read More
2021-11-16 08:56
HMRC have issued a factsheet on the new temporary “super deductions allowance” and “special rate allowance” in respect of qualifying capital expenditure incu… Read More
2021-11-11 09:54
For many owners of SMEs, managing their accounts while trying to grow their business is a time-consuming and complex task. Monitoring income, invoices, and payments require patience… Read More
2021-11-04 13:06
On Wednesday 20 October, Intuit emailed QuickBooks Desktop users to inform them, “We are writing to let you know that sadly we have taken the decision to discontinue Quic… Read More
2021-10-20 10:00
If you operate a small limited company (Ltd) with less than five employees, your accounts may be fairly straightforward. Therefore, it might be tempting to complete your company's a… Read More
2021-10-13 09:00
Whatever your business, it's important to be able to handle your cash flow with confidence. This will ensure accuracy, cut down on mistakes and save on resources. Here's a look at t… Read More
2021-10-06 09:00
Quickbooks Cash is an online bank account for businesses that want to take their cash flow efficiency to the next level. It comes with a debit card and is free to open, making it… Read More
2021-09-29 09:00
Many SMEs are making the switch to cloud-based accounting systems, particularly as HMRC is gradually implementing its "Making Tax Digital" programme Read More
2021-09-27 08:14
The Government has announced in a Written Ministerial Statement (WMS) that MTD for Income Tax Self Assessment (ITSA) will be introduced a year later, in the tax year beginning… Read More
2021-09-22 11:43
One of the things that can make or break a charity is how it manages its finances. All money coming in and going out needs to be carefully accounted for using the appropriate proces… Read More
2021-09-20 10:35
On 8 July 2020, the govenrnment announced that it would introduce a temporary reduced VAT rate of 5% for certain supplies of hospitality, hotel and holiday accommodation, and a… Read More
2021-09-07 14:37
The government has announced today (7th September 2021) that it will be increasing National Insurance (NI) rates for employees, to provide funds to aid the social care sector. The n… Read More
2021-09-02 09:42
Whether you're a start-up firm, or own an established SME, it's crucial to keep your books in good order. However, if you don't have accounting specialists in-house, bookkeeping can… Read More
2021-08-06 13:47
The tax system has a number of employment-related exemptions built in. A few examples of some ways your business may consider rewarding its employees are listed below with useful li… Read More
2021-07-29 14:06
HMRC have a number of useful tools and calculators on their wesbite listed at the link below; Read More
2021-07-29 14:00
HMRC have released a new tool ‘Check if you might need to pay Inheritance Tax’ to allow those dealing with deceased estates to work out the approximate value of the esta… Read More
2021-07-13 19:41
We are pleased to announce the opening of a new office in Leatherhead, through a merger with ‘Maroon Accounts’. Together with our offices in Hampton Wick, Weybridge, Cho… Read More
2021-07-12 15:14
All businesses and organisations need to maintain accurate and detailed financial records to ensure they observe their tax liabilities correctly, provide relevant information for au… Read More
2021-07-08 14:55
Bookkeeping is an important aspect of running any business or organisation but for medical practices and healthcare providers, accountability is even more important Read More
2021-07-08 07:20
A reminder that the extended Corporation Tax Loss carry back measure announced in the Spring Budget 2021, enables companies to make claims to carry back losses for a further two yea… Read More
2021-07-07 06:09
HMRC yesterday issue guidance on claiming the fifth SEISS grant. Full details can be found at the link below Read More
2021-07-05 14:40
Accounting is perhaps one of the least popular aspects of business ownership (unless accountancy is your line of work, in which case you’ll love it!), often because entreprene… Read More
2021-07-02 14:17
If you're a buy-to-let landlord, you may still have to pay Capital Gains Tax (CGT) if you make money from selling your residential property to another investor, landlord, or a priva… Read More
2021-04-01 09:13
Our new Tax Card has just been published, a very useful reference document to save to your computer or download to your mobile at link below; Read More
2021-03-26 10:31
Annual Tax on Enveloped Dwellings (ATED) is an often unknown Tax and reporting regime which governs residential properties held inside Limited Companies. The penalties can be severe… Read More
2021-02-22 07:58
HMRC has announced that Self Assessment customers will not be charged the initial 5% late payment penalty if they pay their tax or make a Time to Pay arrangement by 1 Ap… Read More
2021-02-18 07:59
HMRC have updated their guidance on off payroll working / IR35 regarding the new rules that come in to force from 6th April 2021 Read More
2021-01-26 11:12
The deadline for claiming the third SEISS grant is fast approaching, claims need to be made on or before 29 January 2021 Read More
2021-01-25 16:06
Today HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28… Read More
2021-01-14 08:46
From 1 March 2021 the domestic VAT reverse charge must be used for most supplies of building and construction services Read More
2021-01-12 10:15
Most VAT registered businesses have now becaome registered for MTD for VAT and have got used to filing their VAT Returns through approved software, but changes for Income Tax and Co… Read More
2021-01-07 14:03
The government has announced it will provide £4.6 billion in new lockdown grants to support businesses and self-employed people during coronavirus.One-off top up grants will b… Read More
2020-11-25 11:42
Some virtual cheer has been spread by HMRC in their recent clarification that virtual parties for employees are exempt from tax where the cost does not exceed £150 per head… Read More
2020-11-20 15:17
Employees may be required to work from home in order to self-isolate or if their workplace has closed as a result of government measures to prevent the spread of coronavirus, and em… Read More
2020-11-11 09:56
The introduction of the domestic reverse charge for construction services will be delayed for a period of 5 months from 1 October 2020 until 1 March 2021 due to the impact of the co… Read More
2020-11-02 10:18
The Government announced over the weekend that the Coronavirus Job Retention Scheme has been extended for a month with employees receiving 80% of their current salary for hours not… Read More
2020-10-22 15:33
Today’s announcement from Rishi Sunak has unveiled further support plans for businesses and the self employed as detailed below; Read More
2020-10-12 14:08
The construction industry has many legislative requirements. Calculating deductions, subcontractor bills, and the extra tax reporting is a significant drain on time. Automating the… Read More
2020-09-25 09:06
The Chancellor Rishi Sunak yesterday outlined additional government support to provide certainty to businesses and workers impacted by coronavirus across the UK Read More
2020-09-15 13:34
Are you tired of wasting time chasing invoices? Late payments are a well-documented problem for SMEs and consultants. More than half of people feel uncomfortable about chasing unpai… Read More
2020-09-01 12:00
Since its launch in September 2018, the Xero Projects add-on has been one of the most popular financial management enhancers. Designed to boost productivity by releasing valuable ti… Read More
2020-08-11 07:13
As we approach the end of the deferral period, businesses who did take advantage of the scheme now need to reinstate their direct debit in time to fulfil their payments due from Jul… Read More
2020-08-07 14:30
Yes. All British residential purchase transactions are subject to one form of Stamp Duty, regardless of the nationality of the purchaser. Stamp Duty is an internationally-applicable… Read More
2020-08-04 12:45
Setting up a new business is costly, as the initial expenses required to get up-and-running can quickly accumulate, so the first few months – or even years – is often sp… Read More
2020-07-31 08:15
Individual Savings Accounts (ISAs) have been a popular choice for UK savers for over two decades, with approximately 1 in 5 adults owning one at any one time, mainly because these a… Read More
2020-07-27 10:45
Many people believe they wouldn’t fall victim to a financial scam, but the sad truth is that an extremely high number do. According to the Crime Survey of England and Wales, t… Read More
2020-07-22 09:28
Forecasting unlocks the power of accurate strategic planning and enables companies to harness their cash flow. Xero has recently launched its own integral cash flow forecasting embe… Read More
2020-07-22 08:09
The Treasury has today announced that with regards to Making Tax Digital (MTD), the government plans to: Read More
2020-07-17 09:13
Cloud accounting has revolutionised the way that businesses perform. From tweaking efficiency to enhancing productivity, organisations are maximising their potential. Every company… Read More
2020-07-14 09:39
Pay with TransferWise is a bill payment feature that lets you pay your suppliers through Xero using your preferred bank account.Save time by paying multiple bills in one transaction… Read More
2020-07-13 18:02
Please take care of any large sales to unknown clients which are received from a source 'BBL'. We heard today of a scam where a customer tried to buy a high value car from a Car Dea… Read More
2020-07-13 09:13
HMRC has now issued further guidance about the temporary VAT reduction for the tourist and hospitality industry that starts on 15 July. It is vital to not just these industries but… Read More
2020-07-09 08:56
In little more than four weeks, the world has transformed. With global businesses striving to maintain a normal service in the face of staff shortages, remote working, and social di… Read More
2020-07-09 08:39
Rishi Sunak announced a number of further measures yesterday to support jobs and business sectors severely affected by the COVID outbreak. The key points are summarised below; Read More
2020-07-03 08:35
Fulfilment by Amazon (FBA) has transformed the outlook for businesses throughout the UK since its inception in 2006. A ground-breaking programme, Amazon FBA has enabled thousand… Read More
2020-06-29 13:55
If you run a small business or handle the accounts for one anywhere in the UK, you'll need to keep up to date with all the latest changes the government makes to Value Added Taxatio… Read More
2020-06-28 16:08
Having been in post for less than a month, Chancellor Rishi Sunak unveiled his first Spring Budget in March, at a time of intense scrutiny and anxiety as the Covid-19 crisis intensi… Read More
2020-06-28 11:45
Short answer: no. There is no obligation to pay the second payment on account for the 2019/20 tax year by 31st July 2020. This can be paid, along with any outstanding self-assessmen… Read More
2020-06-26 16:20
Somewhere buried in the middle of the unfolding Covid-19 crisis in March, Chancellor Rishi Sunak unveiled his first Spring Budget. While the global pandemic is sure to leave a deep… Read More
2020-06-26 15:50
The March 2020 budget brought in several green changes that will affect small and large businesses in the UK. Four new tax measures aimed at cutting carbon, nitrogen, and plastic wa… Read More
2020-06-26 14:38
Contributions (NICs) in the construction sector where off-payroll labour is concerned. Known as the IR35 Reforms, businesses that use workers contracted via an intermediary –… Read More
2020-06-01 15:19
On Friday 29th May the Chancellor, Rishi Sunak, announced more details about the extension of the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income… Read More
2020-05-13 08:54
The Chancellor Rishi Sunak anounced yesterday a further extension to the Coronavirus Job Retention Scheme. Read More
2020-05-07 15:32
HMRC have now issued further guidance on how to access the self-employed grant, which has been introduced as a result of COVID-19 Read More
2020-03-18 14:52
The Government has announced a last-minute postponement to the implementation of the IR35 changes in relation to Off-Payroll Tax to the private sector. Following the recen… Read More
2020-03-12 17:06
For all business owners concerned about the latest news surrounding the Coronavirus, today we’re focusing on what will help us through the next few weeks. The British Business… Read More
2019-10-23 11:36
Even HMRC accepts that, on occasion, it's possible to make errors when completing your VAT return. Because VAT can be complex at times, it's almost inevitable that mistake or miscal… Read More
2019-10-10 11:16
As small business accountants that working entrepreneurs rely on, David Howard accountants have become intimately familiar with the bookkeeping and accounting needs of small busines… Read More
2019-10-01 10:51
Dialogue is so important in what we do here at David Howard. There are many occasions when our conversation with small to medium business begins on the subject of bookkeeping. Befor… Read More
2019-09-25 10:22
As a contractor or freelancer, you may have heard about upcoming changes to IR35 but are unsure of what these mean for you. What is IR35 and how will the changes affect you? Read on… Read More
2019-09-19 16:14
The upcoming changes to reverse VAT for building services are to be delayed, says HMRC. They were to kick in this 1st October, but have now been pushed back a full year to 1st Octob… Read More
Subscribe to David Howard
Get updates delivered right to your inbox!