Latest News

Spring Statement 2022 – Out of Covid and into a Cost-of-Living Crisis

It has been reported in the Financial Times that the Chancellor is preparing to face pressure from the PM to offer new help to households while balancing the fears that inflation could rise to 7% in May.

Delay to New HMRC VAT Penalty Charges

This new regime is designed to be proportionate, penalising businesses who persistently miss their submission obligations, rather than those who make occasional mistakes. This is good news for businesses who make occasional late returns or payments, as the penalties in these circumstances will be relatively small.

Rising payroll costs, what’s next?

There are various economic factors impacting the increase in wages, with some changes to taxation and minimum wages to arrive in April 2022. Action is needed to navigate your company through these changes. Before we talk about minimising risk, we’ve put a brief overview of the impact to the payroll cost of your business to come.

Armstrong Watson acquires Grants Chartered Accountants

Armstrong Watson has strengthened its aim to be the ‘go to’ accountancy firm for family and owner-managed businesses across the north after it acquired the successful, long-standing Leeds practice Grants Chartered Accountants.

Scottish Business confidence improving but Omicron having an effect

Although Scottish Business Confidence is improving, by December Omicron concerns slowed growth in activity to its lowest for ten months.

Have you checked your business energy bills?

With energy prices at record rates in the UK, and experts not expecting a return to the levels we saw at the start of 2021 until later this year, many businesses will be looking at ways they can minimise the impact on their cashflow.

An increase in global demand and supply shortages has meant that wholesale prices have surged. Not only are businesses facing soaring energy costs, many are also continuing to feel the strain of the pandemic.

HMRC waives Self Assessment late filing and late payment penalties for one month to ease Covid-19 pressures

HMRC has announced it will be waiving late filing and late payment penalties for Self Assessment taxpayers for one month however taxpayers with sufficient funds would be best advised to submit their tax returns and pay their tax liabilities by 31 January.

What does the interest rate rise mean for you?

The Bank of England base rate has risen to 0.25% after being held at a record low since the start of the pandemic. But what does this mean for you and your business?

11 top tips to prepare for the Christmas period and maximise turnover in hospitality  

With a lot of noise in the media about potential supply shortages over Christmas, Armstrong Watson’s Matthew Hutton and industry advisor Martyn Vevers have put together some tips to help hospitality businesses prepare themselves for the festive period and beyond. 

National Insurance Contribution Increase and Payslips

For the tax year 2022/2023 the Government recently announced a 1.25% Health and Social Care Levy charge that will form part of the National Insurance Contributions for employees and employers, and from 2023/2024 a separate deduction for Health and Social Care levy will be introduced.