Leonard House
5-7 Newman Road
Bromley, Kent
BR1 1RJ

Tel: 020 8464 0131 info@craneandpartners.com

News


Vaccine for your business
20/04/2021
There is a poignant similarity between the effects of COVID on us personally and our businesses. Thankfully, the possible dire consequences of catching the Coronavirus bug are being countered by a variety of vaccines. Fingers crossed that these will ease the pressure on the NHS and minimise the distress that this dreadful virus has Read more...


A reminder that not all costs are costs…
20/04/2021
Costs are defined as something that has to be paid or spent to acquire something. Costs include the acquisition of: An object, say material required to convert into saleable goods. A service, for example, sub-contact labour or A right, the rates you pay to occupy business premises. In your accounts, these costs would appear as Read more...


HMRC’s new penalty regime
15/04/2021
HMRC’s new points-based penalty regime for late submission and payment will start from 1 April 2022. The changes will apply in the first instance to the submission of VAT returns for VAT return periods beginning on or after 1 April 2022. The penalty regime will then be extended to Making Tax Digital (MTD) Income Tax Self-Assessment Read more...


One-off £500 payment for working households receiving tax-credits
15/04/2021
As part of the March 2021 Budget, the Chancellor announced that the temporary £20 weekly uplift in Universal Credits would continue for a further six months, until the end of September 2021. It was also confirmed that Working Tax Credit claimants would receive equivalent support. It appears that it was operationally difficult for this Read more...


Property repossessions from 1 April 2021
15/04/2021
There have been a significant number of measures introduced to help those experiencing financial difficulties because of coronavirus. Throughout the course of the pandemic, the Financial Conduct Authority (FCA) has sought to ensure that lenders provide tailored support to mortgage borrowers who continue to face payment difficulties due to Read more...


Repaying overclaimed SEISS grants
15/04/2021
Self-employed individuals (including partnerships) who have overclaimed the Self Employed Income Support Scheme (SEISS) must pay back the overpayment to HMRC. The rules for repaying HMRC state that you must tell HMRC if you were not eligible to have claimed the grant. For example: for the first or second grant, your business was not Read more...


Lockdown changes 12 April 2021
15/04/2021
Even the unseasonably cold weather does not seem to have stopped people in England getting their first taste of normality for many months as many restrictions were lifted on 12th April 2021. The full list of changes that came into effect in England from 12 April 2021 are listed on GOV.UK as follows: non-essential retail can Read more...


Website development costs
15/04/2021
One of the main areas to consider in deciding how to treat a deductible expense is whether the cost is revenue or capital in nature. There is no single, simple test that can be applied to decide which items are capital expenditure and which are revenue. This can only be determined by reference to the relevant facts that applied at the Read more...


Archiving international trade documents
08/04/2021
There are important rules that all businesses must follow to keep business and accounting records accessible if requested by HMRC. The exact documentation that must be held and the time limits for doing so can vary significantly. For example, most company records must be held for at least 6 years from the end of the last company financial Read more...


National Minimum and Living Wage increases 1 April 2021
08/04/2021
The new National Minimum Wage (NMW) and National Living Wage (NLW) rates came into effect on 1 April 2021. The new rate for the NLW is £8.91 which is a 19p increase over last year. The NLW is the minimum hourly rate that must be paid to those aged 23 or over. The NLW used to apply only to those aged 25 and over but from 1 April 2021 has Read more...

Contact Us

Leonard House, 5-7 Newman Road
Bromley
Kent
BR1 1RJ
020 8464 0131

Newsfeed Search


Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/customer/www/craneandpartners.com/public_html/modules/mod_newsfeedzoek/mod_newsfeedzoek.php on line 6

Accreditation

  ICAEW White