Farrell & FarrellMay 101 minHMRC to raise interest rates on late tax bills As a result of the increase in the Bank of England base rate to 1% last week, HMRC has now confirmed that it will raise their interest...
Farrell & FarrellApr 151 minEaster Opening Hours - 2022The Easter holidays are here. Please note that our office will be closed Easter Monday & Easter Tuesday (18th & 19th April 2022) and...
Farrell & FarrellApr 61 minMAKING TAX DIGITAL (MTD) FOR VAT With effect from 1 April 2022 all VAT registered businesses (regardless of turnover) must keep digital records for VAT purposes and...
efarrell34Mar 311 minUK Restrictions on the Usage of Red Diesel from 1st April 2022.Businesses in the construction industry will no longer be able to use red diesel from 1st April 2022 for most purposes.
Farrell & FarrellMar 241 minUK Spring Statement 2022The Chancellor, Rishi Sunak announced the UK Spring Statement 2022 yesterday, 23 March 2022. Please find attached our summary of the...
Farrell & FarrellMar 221 minHaven’t paid your 2020/21 tax bill!! Act now…A 5% late payment penalty arises on the tax balancing payment and/or Capital gains tax paid late. The trigger date for the first late...
Farrell & FarrellMar 151 minUK National Minimum Wage Increase (NMW) & UK National Insurance Increase (NIC)Please find attached our summary of the upcoming changes in regard to UK PAYE.
Farrell & FarrellJan 71 minUK Income tax 2020/21 – HMRC Late filing and payment penalties waived Similar to last year, whilst there isn’t an extension of the Self Assessment income tax deadline, HMRC announced yesterday that Self...
Farrell & FarrellDec 21, 20211 minChristmas Opening Hours Our office will be closed from Thursday, 23rd December 2021 and reopening on Tuesday, 4th January 2022. FROM ALL OF US AT FARRELL &...
Farrell & FarrellDec 21, 20211 minNI - SSP TEMPORARY CHANGES SSP TEMPORARY CHANGES - The Statutory Sick Pay (SSP) rules have been temporarily amended in Northern Ireland and Great Britain to extend...
Farrell & FarrellNov 25, 20211 minHMRC company car advisory fuel rates from 1 December 2021The HMRC company car advisory fuel rates that apply from 1 December 2021 have been increased reflecting a sharp increase in fuel prices...
Farrell & FarrellNov 10, 20211 minCOVID-19 NI - Economic Recovery Innovation Grant (ERIG)Please find attached our summary regarding the Economic Recovery Innovation Grant scheme.
Farrell & FarrellNov 4, 20211 minUK Interest Rates held at 0.1%The Bank of England are to hold the interest rate at 0.1% but indicate that this may rise in the coming months.
Farrell & FarrellSep 27, 20211 minUK: HMRC collected IHT over £6bn during the pandemicHMRC has collected over £6bn in Inheritance tax during covid-19, i.e. in the past 12 months. This is up 19% on the previous year. Due to...
Farrell & FarrellSep 23, 20211 minUK: Making Tax Digital (MTD) for Income Tax Extended by another year HMRC has announced today that Making Tax Digital (MTD) for Income Tax Self-Assessment has been pushed back by a further 12 months. HMRC...
Farrell & FarrellSep 21, 20211 minUK: Reminder - New 12.5% Hospitality VAT rate from 1 October The UK temporary reduced rate of 5% VAT for the tourism and hospitality sector will cease on 30 September 2021. From 1 October 2021, the...
Farrell & FarrellSep 17, 20211 minF&F Friday Tip - Business Plan GuidePlease find our summary attached on the key elements of an effective business plan. Business plans are essential when you are looking for...
Farrell & FarrellSep 15, 20211 minHIGH STREET VOUCHER SCHEME This scheme will provide an opportunity for people aged 18+ and living in Northern Ireland, to apply for £100 pre-paid card to spend in...
Farrell & FarrellSep 13, 20211 minSales Accelerator Programme Lisburn & Castlereagh City Council and Newry and Mourne and Down District Council have launched the Sales Accelerator Programme to help...
Farrell & FarrellSep 10, 20211 minSEISS Grant Payments for Partnerships & Individual Partners If you are a partner who has claimed the SEISS grants because the coronavirus pandemic has adversely affected the partnership’s business,...