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Cloud n Proud

With MTD (Making Tax Digital) edging ever closer, it's now time for all of us to consider switching to one of the accountancy solutions in the cloud.

At Pilgrims, we are...

16th Aug 2018

Changing times!

Accountancy and taxation has seen some major changes over the last 2 years or so...

Never before, in such a short space of time, have accountants and business owners had...

15th Jun 2018

Making Tax Digital Update

After some uncertainty on how Making Tax Digital will effect smaller businesses, here is some welcome explanation from HMRC: -

 

Three million of the smalle...

20th Jul 2017

Spring 2017 Budget news

The Chancellor has presented his Budget to Parliament.

Some key points for small businesses and tax payers: -

 

Tax-Free Childcare will pro...

8th Mar 2017

Mortgage Interest relief changes on B2L Properties

From April this year the relief on mortgage interest for buy-to-let landlords will be gradually phased out over the next 3 years until 2020/21.

This will result in pushi...

28th Feb 2017

IR35 Changes to be introduced by HMRC

Under the current IR35 rules, it is down to the Limited company itself to assess and take responsibility for the contractor's position in relation to IR35.

There are now...

21st Jul 2016

Hmm... Should I still form a Limited company?

With the new dividend tax regime kicking in from April 2016, the question is "Is it still worth me going Limited?".   There are many factors that need consideration when ans...

24th Jun 2016

Living wage rate increased by 40p an hour

The UK's voluntary living wage, as promoted by the Living Wage Foundation campaign group, is to be increased by 40p an hour.

The new rat...

2nd Nov 2015

Summer Budget 2015

George Osborne delivered his Summer Budget today.   We at Pilgrims Accountancy have selected these key points:-

 

Personal Tax

Personal allowan...

8th Jul 2015

UK start-ups leading the way in job creation

Britain-based start-ups are creating more jobs than their entrepreneurial counterparts in all other major European economies, accoring to new reportsIn particular, UK start-ups ...

12th May 2015

Annual Budget 2015

George Osborne has delivered his Annual Budget for 2015, you can take a look at https://www.gov.uk/government/topical-events/budget-2015 to read in more detail, but here are s...

27th Mar 2015

Tax-Free Childcare: 10 things parents should know

From autumn 2015 Tax-Free Childcare will be available to nearly 2 million households to help with the cost of childcare, enabling more parents to go out to work, if th...

18th Feb 2015

Biggest Self-Assessment EVER

THE LARGEST HAUL of self-assessments ever were received by HM Revenue & Customs by midnight on 31 January, it has been confirmed.

In all, 10.24 million sub...

3rd Feb 2015

Taxman reveals top 10 terrible tax excuses

Ten of the most terrible excuses for missing the 31 January tax return deadline have been revealed by HM Revenue and Customs (HMRC).

Many of the excu...

12th Jan 2015

HMRC cuts company car mileage fuel rates

FALLING pump prices have seen HMRC cut company car mileage fuel rates across three of the six petrol and diesel categories.

The company car mileage fuel rates, known as ...

16th Dec 2014

Income tax target set to be missed, says OBR

Income tax is likely to fall short of the government's target for this financial year despite record employment, the Office for Budge...

13th Oct 2014

HMRC consult on options to strengthen civil sanctions for those evading tax by hiding taxable income, gains and assets offshore

HMRC have published ‘Tackling offshore tax evasion: Strengthening civil deterrents’, a consultation document intended to explore the design of tailored...

20th Aug 2014

How do I choose an accountant?

Confused at what to look for in an accountant?

Accountants come in all shapes and forms and all have various skills within the accounting arena.  Whilst it is impor...

18th Aug 2014

UK economy back at pre-crisis level

The UK economy grew by 0.8% in second quarter of 2014, official figures show.

The figures, from the Office for National ...

25th Jul 2014

UK inflation rate falls to 1.5% in May

Lower fares for flights helped to push the rate of inflation down to its lowest level in four-and-a-half years in May.

The Co...

17th Jun 2014

Wages growth outpacing inflation, ONS figures show

Average weekly earnings are now rising faster than inflation for the first time since 2010, Office for National Statistics (ONS) figu...

19th May 2014

Minimum wage rises to 6.50 per hour

The national minimum wage will increase by 19p an hour to £6.50, the government has announced.

The new rates will be im...

13th Mar 2014

Government assistance for flooded businesses

Prime minister David Cameron has said the government is to offer a tax deferral scheme for businesses affected by the recent heavy flooding across the UK, as part ...

13th Feb 2014

Paperless self-assessment on the way, says HMRC...

PAPERLESS SELF-ASSESSMENT could soon be introduced after a consultation was launched by HM Revenue & Customs.

Under paperless self-assessment, taxpayers will re...

2nd Dec 2013

Pilgrims Accountancy Officially Working Alongside Prudential Financial Planning

Pilgrims Accountancy are proud to announce our position as offical introducers for Prudential Financial Planning.

We can link you directly to our associated financial pl...

31st Oct 2013

HMRC to shut down unused PAYE schemes

HMRC has alerted businesses that unused Pay As You Earn (PAYE) schemes will be shut down where there has been no activity for 120 days.

From 28 October the Rev...

23rd Oct 2013

UK economic growth confirmed at 0.7%

The UK economy grew by 0.7% in the second quarter of the year, official figures have confirmed.

Bright spots included the con...

26th Sep 2013

UK services sector growth at six-year high

The UK service sector grew at its fastest pace in six years in August, according to the latest survey by Markit and the Chartered Ins...

4th Sep 2013

UK economy 'on the mend' after 0.6% growth, says chancellor

The UK economy is "on the mend" after figures showed it grew by 0.6% in the three months to June, said Chancellor George Osborne.

...

31st Jul 2013

Plans for marriage tax breaks to be published 'shortly'

David Cameron has said the government will bring forward proposals for a transferable tax allowance for married couples and civil partners "shortly".

Mr Cameron has been...

3rd Jul 2013

More government support for small businesses, including lifting the cap on Start Up Loans scheme

Your email: *   Friend's email: *   The government has reinforced their commitment to small businesses with new measures....

Ministers hav...

6th Jun 2013

UK first quarter growth unchanged

The UK's economy grew at 0.3% in the first three months of the year.

The figure from the Office for National Statistics is unchanged from the initia...

23rd May 2013

PAYE RTI is upon us!

HMRC's Real Time Information is here...

It is the biggest change since the introduction of PAYE way back in 1944.  Pilgrims can take care of all of this for you, ge...

8th Apr 2013

George Osborne's Budget - Keypoints For Businesses

George Osborne's 4th Budget keypoints for businesses:-

Corporation tax to be cut by 1% to 20% in 2015 New employment allowance to cut national insurance bills cut by &po...

20th Mar 2013

Earning over 50,000 and still receiving Child Benefit?

The High Income Child Benefit Charge was introduced on 7 January 2013 and affects families where someone has an income over £50,000. These families have two options: eithe...

7th Mar 2013

Treasury urged to widen Bolt tax exemption

The Treasury has been urged to permanently exempt top overseas sports stars from UK tax to encourage the likes of Usain Bolt to take part in national events.

The call fo...

1st Mar 2013

Entrepreneurs plan for growth in year ahead

Eight in 10 entrepreneurs are optimistic about their own business prospects for the coming year and half of this group are ‘very optimistic’ about the next 12 months...

27th Feb 2013

Taxman sends out 850,000 penalty notices!

NEARLY A MILLION penalty notices are being sent to taxpayers who failed to file and pay their self-assessment returns by the end of January, it has emerged.

By 20 F...

19th Feb 2013

Taskforce in self-assessment tax cheats crackdown

Taskforces usually operate in "short, sharp bursts of activity" in targeted areas of the country and perceived high-risk industries. The new operation will be looking at around ...

14th Feb 2013

No Tax-Break for married couples...

The government will not introduce a tax break for married couples in next month's Budget, it has emerged.

There had been spec...

4th Feb 2013

Businesses warned on late VAT returns

As many as 50,000 businesses that have failed to submit VAT returns will be targeted by HM Revenue and Customs (HMRC) this month with warnings that their tax affairs will be...

18th Jan 2013

Business Tax

In addition to the Budget 2012 announcement:-

The main Corporation Tax (CT) rate for Financial Year 2014 will be reduced by a further 1% to 21%.

As alrea...

5th Dec 2012

HMRC PAYE RTI coming in April 2013...

From April 2012, HMRC's new RTI (Real Time Information) scheme comes into effect...

Under the new RTI payroll system employers will send information about the tax and na...

22nd Oct 2012

Chief Secretary announces government action against tax avoidance

The Chief Secretary to the Treasury, Danny Alexander has today made a number of announcements about action the Government is taking to tackle tax avoidance.

HMRC Affluen...

26th Sep 2012

Taxman targets self-assessment defaulters

HM Revenue & Customs (HMRC) is chasing people who have failed to submit their self-assessment tax returns for 2009-10 or earlier.

HMRC does not know how many people ...

26th Jul 2012

PM Aims for 'Start-Up' assistance in business for the young

An £82m loan scheme for young people wanting to create a business is being launched by PM David Cameron.

People aged between 18 and 24 can apply for funds, expecte...

28th May 2012

IR35 Test Kit from HMRC

After several weeks of debate and backroom lobbying, HMRC is due to release a “business entities test” to help personal services companies assess their risk of being...

4th May 2012

May Day call for outstanding Tax Returns

HM Revenue & Customs (HMRC) is urging anyone who has still not done their 2010/11 tax return to send it online before the end of April, or be charged daily penalties from 1 ...

19th Apr 2012

Millions affected as tax and benefit changes kick in

Tax and benefit changes announced over the past 18 months will come into force on Friday, affecting millions.

The amount of income that is tax free is to rise by £...

5th Apr 2012

The Budget 2012 Keypoints

Personal income tax allowance raised to £9,205 from April 2013 - a move the government says will make 24 million people £220 better off.

In real terms, the c...

22nd Mar 2012

Bank lending scheme targets smaller businesses!

A £20bn government scheme aimed at boosting bank lending to small and medium-sized enterprises (SMEs) has been launched by the chancellor.

Under the National Loan ...

20th Mar 2012

HMRC's Clampdown - Builders Targeted

Construction workers who are dodging tax have been told to pay up ahead of a planned crackdown by the UK tax authority.

Traders who carry out roofing, joinery bricklayin...

6th Mar 2012

Businesses call for 50p top rate of tax to be scrapped

More than 500 business leaders have called for the 50p top rate of tax to be scrapped in next month's Budget.

 

In a letter to the Daily Telegraph, they sai...

1st Mar 2012

HMRC changes stance on smartphones

BlackBerrys, iPhones and other smartphones will no longer be viewed as benefits in kind, following a change of heart from HMRC.

On Monday, HMRC announced that it had cha...

27th Feb 2012

Tax inspectors to target motors, markets and clothes

Tax inspectors will target the motor trade, market stallholders and clothing sellers as they extend their campaign against tax dodger...

23rd Feb 2012

Tax Return Late Filing Penalty News from HMRC

'The deadline for sending your online tax return was midnight on Tuesday 31 January 2012. All tax returns received on 1 and 2 February 2012 will be treated by HMRC as though the...

16th Feb 2012

Around 1.1 Million Tax Returns Late!!!

Despite HM Revenue & Customs Self-Assessment deadline being extended to 2nd Feb, it's understood that a whopping 1.1 million tax returns were still outstanding once the dead...

9th Feb 2012

Tax strike delays self-assessment deadline

Following an announcement of a strike by staff, HMRC has now confirmed that no fines will be handed out to anyone submitting their self-assessment tax returns online in the firs...

1st Feb 2012

Government swoops on latest tax avoidance scheme

The Government has come down hard on the latest tax avoidance scheme, with a change in law with immediate effect.

The legislation blocks a tax avoidance scheme involving...

31st Jan 2012

Last chance for tutors and coaches to catch up on tax

HMRC has warned private tutors and coaches that they have less than one month left to notify them of any tax owed.

In the latest round of tax avoidance initiatives from ...

26th Jan 2012

Minimum Wage upto 6.50 p/h

Minimum wage up to £6.50 an hour

The national minimum wage will increase by 19p an hour to £6.50, the government has ann...

30th Dec 0000