How can UK businesses tackle the energy crisis?

Image of Electricity cooling towers - national energy crisis

In breaking news on the morning of 21 July 2022, Moscow restarted their gas supply to Europe via the Nord Stream 1 pipeline at a reduced capacity, having been shut for works since 11 July, at which point many industry experts feared a partial return would be inevitable. Added to the fact that UK inflation […]

Review of the Chancellor’s spring statement

Rishi Sunak, Chancellor

There was huge emphasis on the global economic impact following the “unprovoked, premeditated attack Vladimir Putin launched on Ukraine” in The Chancellor’s Spring Statement delivered on 23 March. The main areas affected are energy prices and the cost of goods resulting in a high cost of living across the UK. Below we have summarised the […]

The new HMRC penalty structure is coming into effect

LWA Tax Penalty image

Making Tax Digital (MTD) will become compulsory for all VAT registered businesses from 1st April 2022. With this in mind, HMRC is reforming the sanctions for late submissions and late payments to make them more consistent across taxes. At LWA, we have detailed the penalty changes below, which will initially apply to VAT customers for […]

Everything you need to know about the Super-deduction tax relief

As part of the Spring Budget, the Chancellor, Rishi Sunak, announced a new ‘Super-deduction’ tax relief among other capital allowances, as a mechanism to kick start the economy and promote a speeding up of business investment following the impact of the coronavirus pandemic. Les Leavitt, Managing Director at LWA has detailed how the Super-deduction works […]

What the Spring Budget 2021 means for your business

Starting his Budget announcement on 3 March 2021, the Chancellor, Rishi Sunak, confirmed that the economy has shrunk by 10% but that more than £280 billion in support has been offered so far. At LWA, we have summarised the key points from the Budget relevant to businesses to ensure you make the most of what’s […]

Furlough fraud – avoiding investigation for genuine claims

The first fines have been issued to businesses that have inappropriately claimed from the Coronavirus Job Retention Scheme (CJRS), including one person who claimed £495,000. The government set out a number of rules and guidelines which need to be followed for claims, and employers that have struggled to understand the rules of the scheme, or […]

Financial support for businesses

In these unexpected times which are so clearly affecting businesses in a multitude of ways, at LWA we wanted to let you know of the numerous types of business support that have been made available by the Government, and to advise you of processes you can implement, as a result of the Covid-19 virus outbreak. […]

What are considered deductible and non-deductible expenses?

Can you claim lunch with a client as a business expense? How do you manage employees’ expense claims? What if you’re self-employed and work from home? There are so many questions around what can and can’t be claimed as expenses by a business, and there have been several requests directed through GMBC magazine for this […]

Brexit is, well maybe, probably, almost definitely happening

Here’s what your business needs to do to prepare After over two years of uncertainty concerning the UK’s departure from the European Union, Brexit is finally due to happen on 31 October. We are still no clearer on whether the UK government will be able to negotiate a deal, or we leave with a no-deal […]

Changes to Private Residence Relief affecting Income from Property

Selling a property is considered to be one of the most stressful times in a person’s life. So, when help comes along in the form of tax exemption, like principal private residence relief (PRR), it can make the experience a little easier to bear. However, following the 2018 autumn budget announcement, the proposal was made […]