Category Archives: HMRC

Government Financial Support For Self-Employed Jan 2021

Government Financial Support For Self-Employed Jan 2021

We have now entered into the 3rd Lockdown and the Government has acknowledged the impact by announcing new Financial Aid via different schemes.  The nature of this support to businesses is implemented in many different ways. 1        Self Employment and Universal Credit This financial support package helps with living costs.  You can get it if […]

HMRC Granted New Powers To Crack Down On Covid-19 Related Fraud

HMRC Granted New Powers To Crack Down On Covid-19 Related Fraud

Covid-19 related fraud is reportedly on the rise, with employers putting pressure on employees to continue to work when on furlough or businesses obtaining rates grants when not meeting the relevant conditions. HMRC is seeking to regulate its powers to deter deliberately incorrect claims through penalties and recover funds through self-assessment. It is expected that […]

Furlough Worker Explained

Furlough Worker Explained

HMRC meaning If you and your employer both agree, your employer might be able to keep you on the payroll if they’re unable to operate or have no work for you to do because of coronavirus (COVID-19). This is known as being ‘on furlough’. Once you are on furlough you will not be able to […]

HMRC Simplifies Importing From The EU As Part Of No-Deal Preparation

HMRC Simplifies Importing From The EU As Part Of No-Deal Preparation

HMRC has announced simplified procedures for business importing from EU as part of its no deal Brexit preparation. Letters have been sent to 145,000 VAT registered business trading with the EU with procedures and actions they will need to take. These transitional simplified procedures will make importing easier for an initial period for one year, […]

Stop Using Personal Bank Accounts For Business

  Yes, 31st January is gone, and tax return have been submitted on time. What a relief. But wait, from the date of your submission of tax return, a clock started ticking for 12 more months. Now from that date the tax man can decide to investigate your tax affairs within 12 months. Don’t be […]

Making Tax Digital – Are You Ready?

  Many small business owners are still not aware of Making Tax Digital (MTD). From April 2019, VAT registered businesses with turnover over £85,000 will be required to keep a digital record of their VAT transactions, and submit their VAT returns using Making Tax Digital compliant software. As the MTD deadline approaches, here is what […]

A Guide To The Autumn Budget 2018

  2017/18 2018/19 2019/20 £ £ £ Income tax rates not including Scotland – (non-dividend income)     As announced or unchanged 0% – starting rate for savings only – note 1 Up to 5,000  Up to 5,000 Up to 5,000 20% basic rate tax 11,501 – 45,000  11,851 – 46,350 12,501 – 50,000 40% […]

Charlotte Moss Apprentice Of The Year

  We are proud to announce Charlotte Moss, employee of Sterling Finance (UK) Limited has won Apprentice Of The Year Award at Pride of Tameside Awards 2018.  We are extremely proud of this achievement. Charlotte started her career as a temporary bookkeeper. When she started working for us she had no experience in finance and […]

World Ethics Day 17th October 2018

Sterling Finance (UK) Limited is proud to celebrate the World Ethics Day 2018. For us, ethics aligned with strong technical skills are vital to the future of the profession. We have a responsibility to act in the public interest: to do what is right, to lead by example, and to hold business and society to account. […]