mtd for landlords

Why should landlords care about MTD For Income Tax and why do they need to start planning now?

MTD For Landlords: From April 6 2024 landlords with business or property income above £10,000 will need to follow new rules for MTD (Making Tax Digital) when paying Income Tax. The government aims to once and for all put all income records online and make the process of paying tax more efficient. HMRC says they…

Financial accountant working on the laptop at the office desk

How has the pandemic changed the way businesses tackle fraud?

With the rapid rollout of the COVID-19 vaccines across the world, especially in the more developed western countries, people and businesses are beginning to turn their heads to what life will be like once the pandemic is over. The impact the pandemic has had on business cannot be overstated from changes in operations, changes in…

Social worker using infrared thermometer

How the National Insurance increases affect businesses

The new Health and Social Care tax recently announced by the Prime Minister, Boris Johnson, will initially be collected through National Insurance contributions (NICs). This rise will be paid by both employed and self-employed workers and will be an increase of 1.25 percentage points from April 202 . Dividend tax rates will also rise by…

business

Your insurer says you’re not covered?

Business Interruption Insurance Claims  Your insurer says you’re not covered. The Government says that you are covered. Your insurance brokers say they don’t know. There is so much contradictory information out there, how do you find out? How much could you possibly claim? Will your claim be successful?  We have recently established our business interruption…

tax free childcare

Are you a working parent? Do you know about the Tax-Free Childcare scheme?

The Government Tax-Free Childcare scheme has been in operation since 2017. It replaced the Employer-Supported Childcare scheme, which as the name suggests, was offered to parents by their employers. The new scheme is open to everyone (subject to eligibility) and benefits more families than the previous one did. What is Tax-Free Childcare? As detailed on…

Business documents on office floor

Business interruption insurance claims are now possible

As previously reported. the Supreme Court handed down its judgment on 15 January 2021, substantially allowing the FCA’s appeals and dismissing the insurers’ appeals. This means that many thousands of policyholders who have cover should now have their claims for coronavirus-related business interruption losses looked at. The judgment from the Supreme Court and High Court provides policyholders and…

CJRS Claims Help

Coronavirus Job Retention Scheme (CJRS) claims

Businesses in Salford must meet 30% of costs from July With the economy showing signs of bouncing back, restrictions to movement and personal freedoms being lifted and a more widespread return to the office anticipated, one of the central support pillars of business support provided by the Government has been the Coronavirus Job Retention Scheme.…

Phishing scam fraud identity theft concept - credit card on fishing hook on white computer keyboard

APP fraud is a popular scam this year, here’s what to look out for…

Authorised push payment – APP fraud – where fraudsters trick you into forwarding money from your account to theirs – cost consumers more than £207 million in the first half of 2020, according to UK Finance, the trade body representing financial firms. According to experts at GBG, a company that specialises in identity data intelligence,…

Desk office business financial accounting calculate. Close up

The Impact of the Business Interruption Test Case for Salford Businesses

The Supreme Court delivered its judgment on January 15th, 2021, regarding the Financial Conduct Authority’s (FCA’s) business interruption insurance test case.  The Supreme Court has substantially allowed the FCA’s appeal on behalf of policyholders. This completes the legal process for impacted policies and means that many thousands of policyholders will now have their claims for coronavirus-related business interruption losses…

property accountants

Stamp Duty & Land Tax

As part of his 2021 Budget, Chancellor Rishi Sunak announced that the stamp duty holiday will be extended for a further three months until the end of June. For those looking to purchase a property in the near future, this provides much-needed reassurance and an incentive to push ahead with their purchase. If you have…

MCC Cheadle Opening 4

MCC Accountants Expands With New Staff After Raft of Customer Appointments

Salford founded MCC Accountants are to open a new branch in Cheadle later this month. The small business accountants have grown from strength to strength at their Broughton Road base in Salford over the last 12 years. With the number of customers now at capacity for the solo enterprise, the time has come for the…

Calculating Tax

Tax Rates and Thresholds for 2021/22

The current tax year runs from 6th April 2021 until 5th April 2022. In his 2021 Budget announcement, Chancellor Rishi Sunak set out the tax rates and thresholds for the year. These have large implications for small and medium-sized businesses, especially in light of the economic instability created by the coronavirus pandemic. It’s crucial that…