In this edition, we update you on the new VAT penalty regime, look at the delay to MTD for ITSA and explore why HMRC is targeting the self-employed.

We also offer our guidance on how you can improve your finances in 2023 and beyond, before sharing our helpful tax planning checklist and getting some advice on search funds from our partners at Harbourside Corporate Finance. Finally, as part of a new 'meet the expert' feature, we enjoy a quick Q&A with Audit and General Practice Partner, Ian Lloyd based in our Bath office.

If you would like any further information on these matters or any others in which we specialise, please contact us.

Search funds and the owner managed business

A recent trend being seen within the UK M&A landscape is the increased prevalence of Search Funds as acquirers of established trading businesses. This relatively…

A new VAT penalty regime is now in place

On 1 January 2023, HM Revenue & Customs (HMRC) introduced a new VAT penalty and interest regime. This changes how penalties are applied, as well…

Implementation of MTD for ITSA delayed for two years

The Government has announced a two-year delay and further changes to the rollout of its Making Tax Digital for Income Tax initiative. The delayed implementation…

Self-employed ‘hidden workers’ attract the attention of HMRC investigations

HM Revenue & Customs (HMRC) suspects large businesses are underpaying £1.4bn in employment taxes as it attempts to crack down on ‘hidden employees’ and plug…

Improving your business finances in 2023 and beyond

Every business needs sound financial planning and oversight in order to thrive. With the new tax year just around the corner, now is the perfect…

Keep more of your money with our year-end tax planning checklist

With the tax year ending on 5 April 2023, now is the time to be thinking about how to make the most of the tax…

What’s the one biggest bit of advice you would give at the start of the calendar year?

How do you use technology in finance?

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