TAX BRIEFING - BUDGET 2021

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Budget 2021

Budget 2021 – Key Points
The Chancellor delivered his budget speech, outlining the cost of the support that had already been provided due to the Covid-19 pandemic, the support that will continue, how they plan to start repaying the unprecedented borrowing and how they plan t...
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Furlough Claims………Be Prepared!

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The government have estimated that around 10% of furlough claims are potentially incorrect (and in some cases, fraudulent). As a result, they have decided to invest a substantial amount of money to see how much of these incorrect claims can be reclai...
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Budget 2021 – Key Points

Budget 2021 – Key Points
The Chancellor today delivered his latest budget speech, outlining a three-part plan: 1.To continue to support those affected by Covid-19. 2.Begin fixing the public finances as a result of the unprecedented level of borrowing due to the Covi-19 suppo...
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VAT Domestic Reverse Charge (DRC) – What is it?

VAT Domestic Reverse Charge
From 1 March 2021, if services and supplies fall within the DRC, subcontractors will not charge VAT to other building and construction industry businesses. Instead, contractors will account for the VAT due directly to HMRC on the VAT return. Example:...
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Tax Briefing December 2020

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Chris joins the MoynanSmith team

Chris joins the MoynanSmith team Chris joins the MoynanSmith team
Chris Dixon has joined us as Accounts Department Manager to help look after our clients' financial needs. For Chris it's a case of re-joining familiar faces after previously working with Darren and Jamie in another regional accountancy firm. Chris, w...
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MoynanSmith is Hiring an Accountant / Accounts Assistant

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Due to rapid expansion, we are looking for an experienced Accountant / Accounts Assistant to join our busy and dynamic team. Candidates must have experience in practice. The role: Preparing accounts for a variety of businesses, including limited comp...
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Tips and Advice – Pre-Tax Year End

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Transfer income producing assets to spouse / civil partner You are able to transfer assets such as property or investments to your spouse / civil partner provided it is an outright gift with no conditions attached. If you are a higher rate tax payer,...
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MoynanSmith on Same Bill as Bank of England at Seminar

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The Carlisle Business Seminar, held at the Crown and Mitre Hotel, was organised and hosted by Peter Fleming of Business Doctors Cumbria and MoynanSmith's very own Darren Moynan. Darren was also one of the featured speakers. He updated attendees with ...
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New Tax Year Resolutions – Tax Tips

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Many people wait until the end of the tax year to review potential tax planning. However, at MoynanSmith we firmly believe in being proactive. Now is the time for individuals to start planning for the current tax year, so here are a few tips: Utilise...
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Two New Recruits Join MoynanSmith

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MoynanSmith Chartered Accountants has signed up the duo after another year of growth and says it is already planning to recruit more staff to join the team at its Kingstown offices. Stacey Donnelly, 34, from Carlisle, joins the team as accounts and p...
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Is Making Tax Digital on Hold?

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What is Making Tax Digital all about? First announced in 2015 as part of the March Budget by then-Chancellor, George Osborne, Making Tax Digital (MTD) is an initiative designed to modernise the way tax is recorded in the UK. MTD will see businesses u...
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Autumn Budget 2018 - How it affects you

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The Chancellor kicked off his Budget speech with a promise of a "budget for Britain's future". After downgrading growth forecasts in his previous Budget, the chancellor has now revised the growth forecast back up. In 2020 he expects growth to be 1.4%...
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MoynanSmith Achieves Making Tax Digital ProAdvisor Status

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With the government's Making Tax Digital initiative set to come into effect in April 2019, MoynanSmith are taking every step possible to ensure they are properly equipped to help you deal with the transition. The most recent bit of preparation we hav...
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