Benson Wood & Co Blog

Over half of Brits plan to shop with small and local businesses after pandemic, study reveals

Around half of Brits plan to spend their money with small and local businesses in the wake of the coronavirus pandemic, a major study has revealed.

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UK and Spain set to review Gibraltar tax residency agreement

The UK and Spain are set to review how residents and companies based in Gibraltar are treated for tax purposes in a bid to tackle tax avoidance, it has been announced.

It comes after the Joint Coordinating Committee and Liaison Body met last month to discuss tax co-operation between the authorities of Spain and Gibraltar, resulting in the International Agreement on Taxation and the Protection of Financial Interests regarding Gibraltar. Read More

HMRC unable to process “significant” number of 2020/21 tax returns due to SEISS reporting errors

HM Revenue & Customs (HMRC) has been unable to process a “significant” number of 2020/21 Self Assessment tax returns due to Self Employment Income Support Scheme (SEISS) reporting errors, it has been warned.

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What are the benefits of running a side business?

With the effects of the coronavirus pandemic leaving many people short on funding, some have turned to side businesses to provide them with extra funds to make up for their financial losses.

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What is RTI for Payroll?

Whether you employ one worker or one thousand, Real Time Information (RTI) for payroll helps businesses stay on top of compliance and ensures employees pay the correct amount of tax.

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Less than one month left to apply to SME Brexit Support Fund, businesses reminded

There is less than one month remaining to claim grant funding through the SME Brexit Support Fund, businesses have been reminded.

The initiative – which helps new and established businesses adapt to post-Brexit importing and exporting processes – will close to new applications on 30 June 2021.

If you need help trading overseas, here’s what you need to know.

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Now is the time to prepare details of your taxable benefits

The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees.

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Workplace childcare vouchers – get the best out this scheme during COVID-19

As many employees began working from home during the height of the coronavirus pandemic, they used less paid childcare, as many before school clubs and nurseries were closed.

Therefore, employees who use the childcare voucher scheme will most likely have unspent vouchers in their related accounts if they did not reduce their contributions – which come directly and automatically from their salaries.

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Five ways cloud accounting could boost your business

Cloud accounting is simple, fast, and efficient. So why are so many businesses refusing to make the switch?

In this blog, we’re going to explore just five ways cloud accounting could boost your business and help you leave competitors behind.

Real time data

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Just one month left to apply to EU Settlement Scheme: what employers need to know

EU workers have just one month left to apply to the EU Settlement Scheme to secure the right to live and work in the UK. Read More