The number of self assessment taxpayers filing their tax return on the first day of the tax year has more than doubled since 2018, HMRC has revealed. More than 77,500 customers submitted their tax return for the 2022/23 tax year on 6 April 2023, compared to almost 37,000 customers on 6 April 2018. The deadline to file tax returns for the 2022/23 tax year is 31 January 2024 an ...

CCEW has published draft guidance on the use of social media by charities. The guidance notes that charities are increasingly making use of social media to promote the work that they do, engage their supporters and campaign for change. It also acknowledges the role social media has with members of the public to engage with or debate the work that charities do. The draft guidan ...

The UK rate of inflation fell to 8.7% in April from 10.1% in March, according to the latest data from the Office of National Statistics (ONS). The fall has been attributed to energy price rises slowing from their hikes in 2022. The rate at which grocery prices rose slowed marginally in the year to April, but at 19.1% is close to record highs. The ONS said that while food pri ...

In our last edition we reported on proposed changes to the annual return. It is now confirmed that these changes will take effect for financial years ending on or after 1 January 2023. CCEW have now published guidance on what information charities will need in order to be able to answer the new questions that are being included in the annual return for the first time, so that  ...

In our last edition we reported on the reforms set out in the Charities Act 2022 that took effect from 31 October 2022 in England and Wales. CCEW has now ensured that its guidance material has been updated for these legislative changes, in areas such as managing conflicts of interest, making payments to trustees and fundraising. New guidance has also been issued for the first t ...

In our last edition we featured how charities are being affected by the cost of living crisis. Six months on and the financial pressures remain. Recent research published by the Charities Aid Foundation as part of its Charity Resilience Index shows that: 57% of charities have seen an increase in demand for their services over the past year, with charities in the North of Eng ...

Ward Williams Chartered Accountants are delighted to achieve Platinum Champion Partner status with Xero, the global leader in cloud-based accounting software. As part of our strategic direction to offer a cloud based accounting solution, Ward Williams chose to partner with Xero to provide its cloud platform. With intuitive real-time, integrated software, more and more of the f ...

HMRC has reminded businesses that file VAT returns annually that the online VAT filing portal will close from 15 May 2023. The VAT portal closed to standard quarterly filers on 7 November 2022, but was kept open for a longer period for those who file annual returns. In emails to businesses and tax agents, HMRC urged all VAT registered businesses to use Making Tax Digital for ...

It is well publicised that the Government is committed to cracking down on tax avoidance and evasion, in order to plug the “tax gap” i.e. the amount of tax that should be paid, according to HMRC, and what is actually paid. HMRC have been sending out a number of “nudge letters” to taxpayers who they feel “may” have paid insufficient tax. These letters can refer to a number of d ...

The current standard £100 fine for late filing of self assessment tax returns is due to be changed to a points-based system from 2026. HMRC has confirmed that the penalty system will be reformed in a bid to curb abuse of the self assessment system and support taxpayers who make occasional mistakes. The planned penalty reforms for paying tax late will be based on the length of ...