Accounting News And Articles

Here at Revis and Co, we believe that young people are our future, and so we have endeavored to support young people entering into business by offering many apprenticeship positions throughout the years. We have so far had the pleasure of helping 4 people move forward with their careers through apprenticeships, and we hope to add many more! In honor of national apprenticeship week, we rounded up some opinions from our current employees on how they have found either being appr

Once again following on from a change in the government guidance this week, all of our staff will be moving back into the office from Monday 24th January 2022 (hopefully for the last time). You will not notice anything different however as we are now fully set up for flexible working, meaning our staff are able to work anywhere easily. We are however allowing clients back into our office but we would still ask you to call to book a meeting with whoever you need to see so you

The Government today has announced additional support for businesses in the hospitality and leisure sectors. It was announced that businesses in the hospitality and leisure sector who have been impacted by the Omicron variant will be eligible for a one-off grant of up to £6,000. This is to help businesses as footfall could be down at what is normally one of the busiest times of the year due to the Omicron variant. This grant will be available from your local authority and sho

On Wednesday Boris Johnston announced that employees should work from home from Monday 13th December 2021 if they can. Our employees are able to work from home with ease, so we have taken the difficult decision to ask our employees to work from home once again. Our number 1 priority is keeping our employees safe and with Christmas around the corner, it is the right thing to do. However, we are doing things slightly different than last time and we are still going to be keeping

Yesterday the Chancellor took to the house of commons to announce the Autumn Budget where he announced a significant increase in spending pledges! There was not a lot announced in regards to tax, but there were a few bits we would like to highlight for our clients. To start with, the National Living wage and minimum wage are rising across the board. The rates from April 2022 will be: ​ 23 and over 21 to 22 18 to 20 Under 18 Apprenctice Current rate £8.91 £8.36 £6.56 £4.62 £4.

From today (1st October 2021) the temporarily reduced rate of VAT of 5% will be increasing. As announced in the 2021 budget, the reduced rate of VAT will be increasing to an interim rate of 12.5% from 1st October 2021 to 31st March 2022. From 1st April 2022, the rate will return to the standard rate of 20%. This will affect all VAT registered businesses in the Hospitality, hotel, and accommodation sector and admissions to certain attractions. The supplies to which the tempora

It has been announced today (23/09/2021) that the planned rollout of MTD for Income Tax and Self-Assessment in April 2023 has been delayed until April 2024. I would assume that quite a few of our clients have not yet heard much about MTD ITSA and this is because we had decided not to talk to too many of our clients about this to date. The reason behind this is we did not want to start to worry any of our clients about this yet until we have figured out exactly who is affected

It has today been announced by the Prime Minister that National Insurance is going to rise by 1.25% which will take effect in April 2022. This is to address the funding crisis in health and social care. This is an increase in both employers and employees NI. From 2023 the NI increase will appear on employee's payslips as a separate Health & Social Care levy. You can see below how this will affect National Insurance Annual Salary Current yearly payment Additional yearly paymen

We have kept very quiet about this just in case it couldn't happen, but today all of our staff have returned to work from our offices! Even though we are back, we are still encouraging our clients to send their paperwork to us digitally wherever possible and to book an online meeting instead of in-person as this will help reduce contact. Also as a precautionary measure, we are only letting clients into our office if you have a pre-booked meeting with us, this helps us to regu

So the budget was announced yesterday and it was full of useful information that we are sure you want to know more about, more specifically the extra support announced for businesses as you are allowed to start to re-open. Below we have summarised all of the information for you, and over the next couple of weeks, we will release more detailed information including videos on our YouTube channel about the support now available to businesses. Let's start off with what was annou

Following on from the government's announcement of the roadmap for lifting lockdown, we have a small update on how this will change things w

For the 2018/ 2019 tax year, 958,296 taxpayers (around 8.18%) missed the 31st January 2020 filing deadline with 11,122,967 returns being received by the 31st January 2020. For the 2019/ 2020 tax year, you want to make sure you are part of the over 11 million taxpayers that got their returns submitted on time. It has already been confirmed by HMRC that they will not be extending the deadline or removing the automatic fines of £100 due to Covid-19 so you must ensure you make th

Following on from the Government's announcement last night about the National Lockdown in England, we have made the decision to suspend our paperwork drop off sessions until further notice. What does this mean for you? This means that you will not be able to bring in your paperwork whilst someone is at the office, you are however still able to drop off your paperwork to our office as long as it fits through our letterbox, is labelled and packaged well. Please note that we wil

Following on from the announcement that England will be going into its second lockdown from this Thursday, increased support has been announced for the self-employed. The next instalment would have been for 40% of trading profits capped at £3,750 covering November through to January and paid in December. However, it has now been increased to 80% for November. As the SEISS is calculated of 3 months, the total grant will go from 40% to 55% of trading profits for November to Jan

As I am sure you are aware, the government announced on Saturday 31st October that we will be going into another lockdown from this coming Thursday 5th November. This lockdown, like the first, will require all non-essential shops, pubs, bars and restaurants to close. Due to this, the government announced that they are going to be extending the Coronavirus Job Support for another two months. This means that the scheme that was due to end on the 31st October, will now be open u

Following on from the updated guidance from the Government about working from home, we have taken the hard decision to close our offices.

We have said in a previous post that we are planning on returning to the office on Monday 14th September 2020. Well, I am pleased to let you

Are you prepared for a second wave? If not then you need to think about cash flow forecasting for your business!

We have been asked a few times now about when we are planning to reopen our offices. If you have kept up to date with our other updates then

As of today (8th July 2020) the chancellor Rishi Sunak has announced a new plan for jobs whilst delivering his Summer Economic Update in Par