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Autumn Budget 2021 – Duties and Other AnnouncementsAutumn Budget 2021 – Duties and Other Announcements
 Gaming Duty  Gross gaming yield bands for gaming duty will increase in line with the retail prices index (RPI) rate of inflation from 1 April 2022.   Red Diesel  From 1 April 2022, amendments...
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Autumn Budget 2021 – PersonalAutumn Budget 2021 – Personal
 Rates & Allowances The tax-free personal allowance throughout the UK remains at £12,570 for the 2022/23 tax year. The basic-rate band stays at £37,700, along with the higher-rate threshold at £50,270. The...
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Autumn Budget 2021 – VATAutumn Budget 2021 – VAT
 While the changes made to VAT have a limited impact, some of them relate to the problems caused by Brexit. To ensure that motor dealerships in Northern Ireland have a level playing field with the rest of the UK, there were two announcem...
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Autumn Budget 2021 – BusinessAutumn Budget 2021 – Business
 Business Rates in England The government plans to do the following:Freeze the business rates multiplier from 1 April 2022 until 31 March 2023, keeping the multipliers at 49.9p and 51.2p.Introduce a new temporary busines...
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Autumn Budget 2021 – OverviewAutumn Budget 2021 – Overview
 There’s breaking news today, as far as business is concerned. This is because the UK Chancellor, Rishi Sunak, has just announced the 2021 Autumn Budget. This blog is designed to give you an overview of all the main points, in rela...
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Xero App Spotlight – HubdocXero App Spotlight – Hubdoc
 We are excited to kick off our Xero App Spotlight series by covering Hubdoc, an app comparable to the receipt scanning apps you may have come across, only better! Our main takeaway today is that Hubdoc is nothing short of a technologica...
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Xero App Spotlight – Navigating the Xero App StoreXero App Spotlight – Navigating the Xero App Store
 As you may be aware, Gow and Partners recently achieved ‘gold partner’ status with Xero. This has left us in the best possible position to provide our clients with bespoke, personalised cloud accounting software, at a reason...
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Upcoming Tax Increases - NIC and Dividend TaxUpcoming Tax Increases - NIC and Dividend Tax
 As you may well know, increases to National Insurance (NIC) and dividend tax were recently announced. Taking effect from April 2022, these increases will be repackaged, in part, as a Levy from April 2023. This Levy will also affect...
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Making Tax Digital – Preparing your businessMaking Tax Digital – Preparing your business
 Making Tax Digital is, in our opinion, the most significant aspect of the UK Government’s plans to make it simpler for businesses to get their tax correct, while also keeping on top of their affairs.In a nutshell, this policy make...
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Xero Gold Partners – AnnouncementXero Gold Partners – Announcement
 We are very excited to announce that Gow and partners have officially achieved gold partner status with Xero, the revolutionary cloud accounting software- conveniently discussed in last week's blog.So, to continue on with our cloud...
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Cloud Accounting – XeroCloud Accounting – Xero
 At Gow and Partners, we go above and beyond to make sure that all of our clients have access to the best accounting software in the business world. Experts when it comes to cloud accounting, we operate using two main platforms: Xero and...
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Cloud Accounting – QuickBooksCloud Accounting – QuickBooks
 At Gow and Partners, we go above and beyond to make sure that all of our clients have access to the best accounting software in the business world. Experts when it comes to cloud accounting, we operate using two main platforms: Xero and...
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Cloud Accounting – What we OfferCloud Accounting – What we Offer
 At Gow and Partners, we pride ourselves on offering professional, tailored services across the board. Experts when it comes to cloud accounting, we operate using two main platforms: Xero and QuickBooks. This software is offered to new a...
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Guide for Small Businesses - Making InvoicesGuide for Small Businesses - Making Invoices
 Preparing invoices might be one of the most important tasks you perform as a small business owner. After all, business invoices are the first step in generating the income your business needs to run smoothly. When small business inv...
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Software Update - Syft AnalyticsSoftware Update - Syft Analytics
 We are excited to announce that Gow and Partners will now be offering business insights from Syft Analytics. This will form an additional service, available for any client who is interested in understanding their business further. C...
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Fifth and Final SEISS GrantFifth and Final SEISS Grant
 The fifth SEISS grant is the final self-employment grant available to help businesses who are struggling due to the COVID-19 pandemic. With relevant details recently revealed by the UK Government, we wanted to outline what you need to k...
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COVID-19 Roadmap: Returning to WorkCOVID-19 Roadmap: Returning to Work
 On Monday, England will move into step-four of the Government’s plan to ease the national lockdown, with this final step constituting the lifting of all social distancing measures. This allows employers with furloughed staff to be...
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New Scam Targeting Tax Credit ClaimantsNew Scam Targeting Tax Credit Claimants
 If you are a tax credit claimant, you should have already received your remaining annual renewal packs in the post. These packs instruct the majority of recipients to renew their tax credits by the 31st of July 2021. This time scale mea...
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Limited Company Year End Accounts ChecklistLimited Company Year End Accounts Checklist
 A company ‘year-end’ is the date that your company’s accounting period ends, as well as the date the clock starts ticking for a limited company to send certain documents to HMRC and Companies House.This can prove daunt...
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Fifth Self-Employment GrantFifth Self-Employment Grant
 From the end of July, a fifth self-employment income support scheme (SEISS) will become available. The grant aims to support businesses negatively affected by the ongoing pandemic and will cover the period of May to September 2021....
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Furlough Changes 2021Furlough Changes 2021
 In an attempt to support employers struggling to operate regularly due to the coronavirus pandemic, the furlough scheme was implemented in March 2020. Currently, the grant is set at 80% of wages, to a maximum of £2,500 per employe...
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Bans for Covid Debt AvoidersBans for Covid Debt Avoiders
 Approximately 1.5 million businesses have taken liberty of the Bounce Back Loan scheme, receiving interest-free loans of up to £50,000. The scheme was intended to lessen the negative affects of the Coronavirus pandemic on small an...
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Self-Employment Income Support Scheme – Fourth GrantSelf-Employment Income Support Scheme – Fourth Grant
 The fourth Self-Employment Income Support Scheme (SEISS) grant has been outlined as part of the 2021 Budget. This grant will support self-employed workers affected by coronavirus restrictions for the period February 2021 until Apri...
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MTD for VAT - Mandatory Digital LinksMTD for VAT - Mandatory Digital Links
 When filing business VAT Returns to HMRC under the MTD for VAT regime, it is now mandatory (as of 1st April 2021) to have digital links in place. If you have not managed to make this transition yet, there is no need to panic, since it i...
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Voluntary Disclosure to HMRC - When is it needed?Voluntary Disclosure to HMRC - When is it needed?
 Voluntary disclosure is simply the act of letting government services like HMRC know about a mistake or non-compliant activity without being prompted. This is all about open and honest business practice that aims to put matters right wh...
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New IR35 RulesNew IR35 Rules
 Large and medium-sized businesses must prepare for the changes to the off-payroll working rules (IR35), which come into effect in just over a week. From 6 April 2021, in most cases, the engager (employer) will be responsible for decidin...
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CIS VAT Reverse Charge SchemeCIS VAT Reverse Charge Scheme
 A new domestic reverse charge was introduced on the 1st of March 2021.This change in VAT rules could affect the cash flow of 150,000 small and medium businesses in the UK construction sector, many of whom are covered by the Construction...
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Update - Investment in Technology & Customer RelationsUpdate - Investment in Technology & Customer Relations
 At Gow and Partners, we have a vested interest in keeping up with the latest, innovative accounting technology.We take pride in implementing tools that feel will improve the client experience, especially in terms of convenience and nour...
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Spring Budget 2021 - Other AnnouncementsSpring Budget 2021 - Other Announcements
  Stamp duty land tax (SDLT) Due to COVID-19, the Chancellor previously announced a temporary increase to the nil-rate band for residential property before SDLT was due, from £125,000 to £500,000, for the pe...
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Spring Budget 2021 - Covid-19Spring Budget 2021 - Covid-19
  Recovery loan scheme The recovery loan scheme ensures businesses can access loans and other finance of up to £10m per business once existing COVID-19 loan schemes close. The Government guarantees 80% of the fina...
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Spring Budget 2021 - VATSpring Budget 2021 - VAT
  Extended VAT discount for hospitality The current 5% VAT rate for the hospitality sector, holiday providers and attractions will be extended by six months to 30 September 2021. This was due to expire on 31 March 2021....
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Spring Budget 2021 - BusinessSpring Budget 2021 - Business
  Corporation Tax The main rate of corporation tax will remain at 19% for the financial years beginning 1 April 2021 and 1 April 2022.From 1 April 2023, the main rate will increase to 25% on profits over £250,...
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Spring Budget 2021 - OverviewSpring Budget 2021 - Overview
 On Wednesday, Chancellor Rishi Sunak’s announced his economic plan to help the UK recover from the COVID-19 pandemic.At Gow & Partners, we have been working hard to get to grips with this new information as quickly as possible,...
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Spring Budget 2021 - IndividualsSpring Budget 2021 - Individuals
 Rates and Allowances- The tax-free personal allowance throughout the UK will increase to £12,570 for the 2021/22 tax year. The basic-rate band will rise to £37,700, while the higher-rate threshold will rise to £50,270. The...
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New Online VAT Deferral SchemeNew Online VAT Deferral Scheme
 HMRC has announced that many businesses who deferred VAT payments last year are now eligible to join the new online VAT Deferral Payment Scheme, allowing them to pay in smaller monthly instalments. The new payment scheme is part of a wi...
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Update - RenovationUpdate - Renovation
 Gow & Partners are pleased to announce that we have expanded to the bottom floor of our building at Dalton Court. After significant and continuous growth, we jumped at the chance to make this exciting change! This eagerness is t...
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Claiming Home Office ExpensesClaiming Home Office Expenses
 COVID-19 has caused massive changes to the way we live and work, with everyone having to adapt in accordance with changing restrictions. With this in mind, we are aware that many of our clients, as well as their employees, may be working fr...
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Personal Tax Return Deadline ExtensionPersonal Tax Return Deadline Extension
 It is common knowledge that Covid-19 has put an immense strain on the functionality of business. To alleviate such a strain, HMRC have temporarily changed their rules regarding the yearly tax returns.   The Good News...
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Economic SupportEconomic Support
 With the ongoing Covid-19 pandemic, things remain tough for lots of business owners across the UK. This is why it is important to be proactive, ensuring that you are receiveing all the financial support available to you...
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Covid-19 VAT DeferralsCovid-19 VAT Deferrals
 The Chancellor’s Winter Economy Plan, outlined in September 2020, stated that deferred VAT due in March 2020 could be repaid in 11 month interest free instalments, in order to help businesses with their cashflow.Further details ha...
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Happy New YearHappy New Year
 Gow & Partners would like to take this opportunity to wish all existing and prospective clients a happy new year!2020 may have been a year of struggle and uncertainty for businesses, but with the onset of vaccinations, we are optimi...
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File your Tax Return Today!File your Tax Return Today!
 With the new year fast approaching, it is time to start thinking about submitting your tax return for 2019/20. Considering the detrimental effect of coronavirus on the business world, it is understandable that this process may have been...
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Celebrating our Eighth Year!Celebrating our Eighth Year!
 Gow & Partners will turn eight years old on Thursday the 10th of December- something that makes us incredibly delighted and proud! In light of the occasion, we would like to reflect on the evolution of our company to date.  ...
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The 5 Tax Saving Tips Every Business Owner Should KnowThe 5 Tax Saving Tips Every Business Owner Should Know
 It is fair to say that very business owner is interested in saving tax. Luckily, there are many simple, honest ways of doing so, some of which not only help your business, but the environment too. Below you can browse a variety of tax s...
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Go ElectricGo Electric
 Electric is the future!  One of the global goals for sustainable development, outlined by the United Nations, is affordable and clean energy. This is tied to the belief that everyone should have access to modern, sustainabl...
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Capital Allowances for Asset InvestmentCapital Allowances for Asset Investment
 Did you know that investing in assets is a tax efficient way of improving your business? You can claim capital allowances when you purchase assets that you use for the function of your business, e.g. machinery.   A...
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Employer’s Guide to the ‘Cycle to Work Scheme’Employer’s Guide to the ‘Cycle to Work Scheme’
 As an employer, if you offer bicycles (lent or hired) to all of your employees, it does not count as an expense or a benefit. This means that you do not have to deduct or pay tax or National insurance on them, or report them to HMRC. H...
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Register as a CIS ContractorRegister as a CIS Contractor
 Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and send them to HMRC.These deductions count as advance payments towards the subcontractor’s tax and National Insurance....
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Summary of Latest Coronavirus AnnouncementsSummary of Latest Coronavirus Announcements
 With the second national lockdown upon us, the support offered to businesses has and will continue to adapt. As it stands, these are the latest announcements regarding support:  Coronavirus Job Retention Scheme (CJRS)...
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Winter Economy PlanWinter Economy Plan
 The September 2020 United Kingdom Winter Economy Plan is a statement from the British Government, or mini-budget statement, which was delivered to the public by Rishi Sunak, the Chancellor of the Exchequer. Below you will find an overview o...
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Additional Government Support Over WinterAdditional Government Support Over Winter
 The disruptions caused to the business sector by coronavirus has been colossal, meaning uncertainty about the future is rife, for small and big business owners alike. To ensure that all businesses get a fair chance of survival, the gove...
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5 Signs That You Should Change Accountants5 Signs That You Should Change Accountants
 You trust your accountant to handle the financial side of our business, which you may otherwise struggle with. But, what do you do when you sense that you may be being deceived? Does it seem too coincidental that you draw the short straw ti...
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Surviving in Times of CrisisSurviving in Times of Crisis
 Succeeding in the world of business has always taken hard work and dedication. With business prospects more strained than ever in the midst of COVID-19, you may feel a new level of frustration in your working life.While surviving in thi...
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Improving your Credit ScoreImproving your Credit Score
 Your credit score directly affects your ability to secure loans, credit cards, and other lending services. Knowing how to build a good one is an invaluable skill for all, since we all want access to the best lenders, with the best interest...
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Money Management for KidsMoney Management for Kids
 Since money management is not taught in schools, most kids learn about it from their parents. It is entirely natural for you as a parent to want the best for your kids, including a life free from the financial stress that often comes with a...
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Corporate Social ResponsibilityCorporate Social Responsibility
 Let’s talk about Corporate Social Responsibility (CSR). What is it? What will it look like within the realms of your business? What are the benefits, both strategically and ethically? While CSR bares no singular definition that ca...
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What Do You Need To Know About The Job Retention Scheme?What Do You Need To Know About The Job Retention Scheme?
 During the COVID-19 pandemic, the Chancellor announced that employers will be able to claim a Job Retention Bonus of £1,000 per furloughed employee if certain conditions are met.So far the government has helped UK businesses pay t...
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The Importance of Repaying Any Over Claimed COVID-19 GrantsThe Importance of Repaying Any Over Claimed COVID-19 Grants
 Since the outbreak of coronavirus in the UK, many UK businesses have been taking advantage of the government’s financial support, particularly when it comes to the Coronavirus Job Retention Scheme (furlough scheme).With large...
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What You Can Claim For When Working From Home?What You Can Claim For When Working From Home?
 Over the last few months working from home has become the new norm given the current COVID-19 circumstances. As well as the flexibility that working from home brings there is the opportunity to claim tax relief for some of the bills you hav...
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Personal Tax Accounts and Why You Need OnePersonal Tax Accounts and Why You Need One
 Understanding your tax can be an incredibly trying experience, with the yearly hassle of completing your tax return serving only as a tedious addition. However, with a Personal Tax Account, there is light at the end of that arduous tunnel!...
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The Implications of Furlough FraudThe Implications of Furlough Fraud
 As more and more employees enter back into the workplace, there is mounting evidence that employers have been acting unscrupulously when it comes to furlough. Resultantly, the term ‘furlough fraud’ has started to circulate in pu...
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Avoiding Scammers in the Digital AgeAvoiding Scammers in the Digital Age
 In the world we know and live in, the sophistication of technology is growing by the minute. So too are the demographics targeted by scammers, however, as well as their potentiality for success.Scammers are showing an increasing prefere...
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Seven Things You Need to Know About a Director’s Loan AccountSeven Things You Need to Know About a Director’s Loan Account
 If you are a director of a limited company then you may have heard of a director’s loan account. Although the account doesn’t technically belong to you it can be used to assist in the day to day running of your business.HMRC d...
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What is The Bounce Back Loan Scheme (BBLS)?What is The Bounce Back Loan Scheme (BBLS)?
 The current COVID-19 outbreak and the subsequent lockdown has caused a lot of businesses to lose revenue and as such have seen their cash flow disrupted, which in turn has led to staff being placed on furlough or worse case made redundant....
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What Does Making Tax Digital Mean For You?What Does Making Tax Digital Mean For You?
 To help make the tax system easier for individuals and businesses, the government has set out a strategy to a digital tax system. The idea is to make sure that people are keeping on top of their finances; HMRC has already been sending out r...
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Six Important Changes in Rishi Sunak’s Mini BudgetSix Important Changes in Rishi Sunak’s Mini Budget
 Chancellor of the Exchequer Rishi Sunak has recently announced a host of new measures in a bid to kickstart the UK economy. Measures included a job retention bonus, stamp duty holiday and a date night discount through August. Below are six...
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What are the Benefits of Cloud Accounting?What are the Benefits of Cloud Accounting?
 The internet has opened up possibilities that were once considered to be mere fantasy. From instant chats to online meetings, to data storage and even remote working opportunities, the internet has truely revolutionized our lives in the mod...
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What you need to know about Tax InvestigationsWhat you need to know about Tax Investigations
 Tax investigations in the UK can be stressful for any business regardless of whether they are routine or tax audits or investigations because the HMRC suspects inaccurate information. By hiring professional help right from the onset, you ca...
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COVID-19 And How We Can Help Your BusinessCOVID-19 And How We Can Help Your Business
 The recent Coronavirus pandemic has created significant challenges for individuals and businesses everywhere. With many small businesses unable to keep afloat through lockdown measures, the future can look uncertain and bleak for some....
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How To Save Tax: a Guide to Reducing Corporation TaxHow To Save Tax: a Guide to Reducing Corporation Tax
 Keeping on top of your taxes and paying what you owe is no doubt important. However, paying more than you need to can put your business at financial risk, aside from being unnecessary. Ensuring that you are paying the correct amount may be...
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Latest News

How To Save Tax: a Guide to Reducing Corporation Tax COVID-19 And How We Can Help Your Business What you need to know about Tax Investigations What are the Benefits of Cloud Accounting? Six Important Changes in Rishi Sunak’s Mini Budget What Does Making Tax Digital Mean For You? What is The Bounce Back Loan Scheme (BBLS)? Seven Things You Need to Know About a Director’s Loan Account Avoiding Scammers in the Digital Age The Implications of Furlough Fraud Personal Tax Accounts and Why You Need One What You Can Claim For When Working From Home? The Importance of Repaying Any Over Claimed COVID-19 Grants What Do You Need To Know About The Job Retention Scheme? Corporate Social Responsibility Money Management for Kids Improving your Credit Score Surviving in Times of Crisis 5 Signs That You Should Change Accountants Additional Government Support Over Winter Winter Economy Plan Summary of Latest Coronavirus Announcements Register as a CIS Contractor Employer’s Guide to the ‘Cycle to Work Scheme’ Capital Allowances for Asset Investment Go Electric The 5 Tax Saving Tips Every Business Owner Should Know Celebrating our Eighth Year! File your Tax Return Today! Happy New Year Covid-19 VAT Deferrals Economic Support Personal Tax Return Deadline Extension Claiming Home Office Expenses Update - Renovation New Online VAT Deferral Scheme Spring Budget 2021 - Individuals Spring Budget 2021 - Overview Spring Budget 2021 - Business Spring Budget 2021 - VAT Spring Budget 2021 - Covid-19 Spring Budget 2021 - Other Announcements Update - Investment in Technology & Customer Relations CIS VAT Reverse Charge Scheme New IR35 Rules Voluntary Disclosure to HMRC - When is it needed? MTD for VAT - Mandatory Digital Links Self-Employment Income Support Scheme – Fourth Grant Bans for Covid Debt Avoiders Furlough Changes 2021 Fifth Self-Employment Grant Limited Company Year End Accounts Checklist New Scam Targeting Tax Credit Claimants COVID-19 Roadmap: Returning to Work Fifth and Final SEISS Grant Software Update - Syft Analytics Guide for Small Businesses - Making Invoices Cloud Accounting – What we Offer Cloud Accounting – QuickBooks Cloud Accounting – Xero Xero Gold Partners – Announcement Making Tax Digital – Preparing your business Upcoming Tax Increases - NIC and Dividend Tax Xero App Spotlight – Navigating the Xero App Store Xero App Spotlight – Hubdoc Autumn Budget 2021 – Overview Autumn Budget 2021 – Business Autumn Budget 2021 – VAT Autumn Budget 2021 – Personal Autumn Budget 2021 – Duties and Other Announcements