We recently saw the announcement of the autumn budget by Chancellor of the exchequer, Jeremy Hunt. With the recent uncertainty left by the mini-budget, more eyes than ever were on Jeremy Hunt as he arrived at the House of Commons. Hunt commenced his announcement by stating that he is ready to face the economic “storm” that awaits adding that there will be around £30 billion in spending cuts as well as £24 billion in tax rises. The announcement has been labelled ‘make or break’ for Hunt and new Prime Minister, Rishi Sunak’s tenure. But more importantly, How does this news […]
Monthly Archives: November 2022
When it comes to the correction of VAT errors, you want to make sure you are documenting everything properly. It’s important to identify the most common mistakes so you don’t make them. In today’s blog, we will break down these common mistakes so you can easily identify what to look out for. How do you report a VAT error? An error many people face when dealing with VAT is finding the odd error in their records. This can be easily rectified. As stated by gov.uk; “When notifying HMRC of an error correction you should use form VAT652. This can […]
The news has been a little frantic as of late. A constant new change and reversals make it hard to follow along, especially when it involves your or your business. Today we will go through the brand new mini budget implemented by the new Chancellor of the Exchequer, Jeremy Hunt and how they differ from the previous announcement by then chancellor, Kwasi Kwarteng. Why the new change? Following the initial announcement by Kwasi Kwarteng, the UK markets saw a dramatic hit. With the pound roping to its lowest level against the dollar ($). The announcement of tax cuts […]