Posts by Nettie Buss
More changes coming at Companies House to tackle fraud!
More changes coming at Companies House to tackle fraud! As Companies House continues its rollout of ‘new powers’ to improve the quality and reliability of its data and clamp down on abuse of the companies register, details of what is coming next are below…. The companies house register, which is used an amazing 14 billion…
Read MoreHMRC is targeting online sellers – what do you need to know?
HMRC is targeting online sellers – what do you need to know? As mentioned in our previous blog – https://kennedysaccounting.uk/selling-online-is-changing-are-you-falling-into-the-tax-trap-insights/ in January 2024, it seems that HMRC have already started compliance checks on the highest reported earners. Following the UK’s agreement to the Organisation for Economic Cooperation and Development’s (OECD) global data sharing which is…
Read MoreSmall and medium-sized enterprises (SME) are being ‘debanked’
Small and medium-sized enterprises (SME) are being ‘debanked’ The Treasury Committee has ‘condemned unfair de-banking of legitimate businesses’ and are highly critical of ‘substandard processes’ taken by banks. A recent report has advised that in the last year more than 140,000 SMEs have been ‘debanked’ with the majority advising that they received no warning. Subsequently…
Read MoreNew Rules for Company Names
New Rules for Company Names As Companies House continues to introduce new practices as a result of the implementation of Economic Crime and Corporate Transparency Act, the latest is the new rules for company names. Companies House have advised that they are ‘running stronger checks on company names which may give a false or misleading…
Read MoreGetting your Self Assessment tax return filed early!
Getting your Self Assessment tax return filed early! Did you know that nearly 300,000 people submitted their self assessment tax return in the first week of the new tax year – so why not get in touch with us here at Kennedys Accounting and get yours filed too. So….what are the advantages of getting this…
Read MoreFurnished holiday lets – changes are coming!
Furnished holiday lets – changes are coming! With effect from 6 April 2025, loan interest for holiday let businesses operated by individuals will cease to be a deduction and relief but will instead be given as a 20% tax credit from the individual’s tax liability which was announced by the Chancellor in the Budget earlier…
Read MoreHigh earners removed from Self Assessment
High earners removed from Self Assessment The increase in the earnings income threshold to £150,000 means that over 300,000 taxpayers will be removed from the requirement to file a self assessment tax return with HMRC. Up until 6 April 2023, any taxpayers with earnings above £100,000 were required to file a tax return, even if…
Read MoreIncorrect refunds of Voluntary Class 2 National Insurance payments
Incorrect refunds of Voluntary Class 2 National Insurance payments Due to a delay by HMRC in processing self assessment tax returns for self employed taxpayers, this has resulted in the refund of some Class 2 national insurance contribution (NIC) payments by mistake. This has meant that some taxpayers have received refunds for NIC payments, which…
Read MoreCompanies House changes to registered office addresses….
Companies House changes to registered office addresses…. The Economic Crime and Corporate Transparency Act continues to be embedded with the next change coming into effect meaning that businesses will no longer be able to use PO Box numbers as a registered office address on the Companies House register. Companies must now have an ‘appropriate address’…
Read MoreOnline tool to check national insurance shortfalls
Online tool to check national insurance shortfalls If you have gaps in your national insurance payments dating back to 2006, you will be able to check online using a new HMRC tool to see if you need to make additional contributions. The ‘Check your State Pension forecast online tool’ is now live and is a…
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