The new tax year starts 6 April 2022, so you have one month to consider your options, once we pass this date the majority of the tax planning options for Income Tax and Capital Gains Tax purposes will cease unless actioned before the 6 April.

HMRC are encouraging more employers to payroll employee benefits in kind rather than declaring benefits on the end of year P11D. They have included guidance on registering to use the scheme in their latest employer bulletin.

There are important changes from 1 June 2022 for small businesses using the Flat Rate Scheme who are importing goods and using postponed VAT accounting.

Those businesses using the Flat Rate Scheme must currently add the value of imported goods to the total of all their supplies before they carry out the scheme calculation

Recent figures from the Office for National Statistics (ONS) show Growth in average total pay (including bonuses) was 4.3% and growth in regular pay (excluding bonuses) was 3.7% among employees in October to December 2021. This means UK wage growth continues to lag behind the rising cost of living.

The Plastics Packaging Tax is set to come into force from 1 April 2022. It applies to manufacturers and importers of plastic packaging, but could also affect retailers, freight transport providers and fresh food producers.

Under the new legislation, plastic packaging which contains less than 30% recyclable material will be subject to taxation of £200 per tonne.

UK, US and Australian cyber security authorities are warning of a growing wave of increasingly sophisticated ransomware attacks which could have significant consequences for businesses and organisations across the world.

With ever increasing supplier prices, managing your businesses cash and understanding the flow are now vital tools in maintaining resilience and being able to adopt flexible strategies for success.

Fund flows are a reflection of all the cash that is flowing in and out of a business. Owners can look at the direction of the cash flows for insights about the health of specific products or services and overall market patterns.

The government are concerned about the lack of take up of tax-free childcare accounts, with HMRC estimating that less than 22% of families eligible for the scheme had joined in March 2021.

For limited companies, when it comes to making decisions, Company Law states shareholders who own more than 50% can pass a motion at a company meeting regardless of the views of other shareholders and if shareholder(s) owns more than 75% of the shares they control the company outright and can veto the decisions of all other shareholders.

Where HMRC believe a company (including LLPs) is insolvent or about to become insolvent, and overclaimed CJRS grants owed will not be paid, they may give a notice making an individual (or individuals) jointly and severally liable for the relevant tax liabilities. This means that all individuals given a notice will be jointly and severally liable with the company for paying these liabilities.

The National Cyber Security Centre (NCSC) has published new guidance for businesses on creating trustworthy customer text and telephone messages.

A company might have a great product or service but without a business growth strategy to help it define, articulate and communicate where it is going, it may not grow at all!