Your April business and tax updates - Carpenter Box
Published: 04 May 2022
Welcome to our April newsletter!
Happy Retirement Roger! Last week we said goodbye to a “true gent” Roger Biggs who has decided to begin his retirement after a fantastic 20 years working for Carpenter Box. We know that across the whole firm he will be thoroughly missed both on a work and personal level. Please follow this link to read Roger’s professional story with the firm and the lovely words his colleagues have to say about him. We do, however, wish him every happiness in his retirement and we hope to see him again in the very near future!
Fraud is the 21st Century volume crime and an issue which is not going away. As more people are sharing data, setting up businesses and talking online this is something that is only going to continue to grow over time. In this month’s newsletter we have included a blog which covers financial cybercrime in more detail and ways in which businesses can protect themselves further.
The government have introduced a new £150 million Innovation Loans Scheme which is explained further here, but in essence is designed for smaller businesses to enhance productivity across the economy. This in turn will hopefully bring jobs and prosperity to the whole of the UK.
Finally, I am pleased to let you know about an upcoming Strategic Planning Guide Seminar where Carpenter Box’s Robert Dowling will be one of the speakers attending. The seminar will take place on Wednesday 18th May and will cover the topic of running an owner managed business. Questions such as “How to grow a business without it being reliant on me?” will be covered amongst many others. Follow this link to confirm your attendance and for further information on what will be a very informative seminar.
I hope you enjoy this newsletter and if you have any queries or questions about anything please speak to your usual Carpenter Box contact.
Happy Retirement Roger!
2022 is the year that he has decided to take a well earnt rest and enjoy his retirement.
Roger Biggs has seen a lot of changes over his time at Carpenter Box as a Senior Manager. Having arrived from another finance firm in 2002, already hugely experienced. Roger specialised in ‘General Practice’ having a wealth of knowledge from across the board.
You can read more about Roger's professional journey below:
Fraud is the 21st Century volume crime and an issue which is not going away.
With more people sharing data, transacting, setting up businesses, dating and talking online, this trend is set to continue.
Financial scamming and its impact have been receiving a higher public profile in recent months. Although recognised as a growing problem, there is a lack of clear research and evidence into the scale of its causes and the impact on the public.
Learn more about how to ensure your business is financially cyber secure:
£150 Million Innovation Loans Scheme: A Guide
The government has launched a new scheme for small to medium businesses worth £150 million. This is thought to increase innovation and enhance productivity across the economy.
The strategy focuses supporting businesses by making the most of the UK’s research, development and innovation processes. See if you could be eligible below:
Inflation and actions for business owners
We all know the effect inflation is having on our personal spending power. Despite the Chancellors Spring Statement actions, it looks like spiralling inflation is not going away soon.
The question is though, what actions can you take as a business owner? You need to consider how inflation will impact your organisation from both an income and cost perspective. You can read our suggestions below:
Academies Accounts Direction 2021 to 2022
The Education and Skills Funding Agency (ESFA) have recently released the Academies Accounts Direction (AAD) 2021 to 2022.
The current year changes are not significant, but the key ones have been highlighted below. Note that many of the changes will only be applicable to certain circumstances or rather than applying to all Academy Trusts.
Securing Your Legacy and Maximising Shareholder Value Seminar
Running an owner managed business is more than a full time job and we understand how challenging it can be to find the time to strategically plan for the longer term.
However, the value you have worked so hard to establish and ultimately the survival of your business could depend on it. Bringing together specialists from the corporate finance, banking and legal world, we will help you address the following questions:
- What kind of legacy do I want to create?
- How do I plan for it and when should I start?
- How do I grow my business so it isn’t so reliant on me?
- What steps should I be taking to protect and build shareholder value?
- How can I de-risk, without losing control of my company?
Date: Wednesday 18 May 2022
Time: 08:15am - 10:30am
Venue: EMW, St John's House, 3rd Floor, Haslett Ave West, Crawley, RH10 1HS
Carpenter Box Financial Advisers news update
Read the April newsletter!
March was dominated by news of the fighting and it's inevitable consequences: the rising cost of energy and the inevitable shortages that we’re likely to face. As we will see, the EU concluded a deal with the US to reduce its dependence on Russian gas, but the month ended with Vladimir Putin demanding that companies and countries wanting Russia’s gas open an account with a Russian bank and pay in roubles.
Perhaps surprisingly, many of the markets we cover in the market commentary had a reasonably good month – or at least managed not to lose ground. The one big faller was China’s Shanghai Composite index, as the month ended with the city in lockdown due to Covid.
This newsletter also covers:
- Recent financial movements within the UK, including industry updates and the state of the economy
- European news
- A global overview: the US, Far East and Emerging Markets
- Spring Statement Summary 2022
- Spring 2022 Newsletter
- Financial Update April newsletter
- South East Property Newsletter: Issue 1
- IR35 Fact Sheet
- Domestic Reverse Charge
- Electric car tax considerations
- The Momentum of Electric Vehicles
- Trust Registration Service fact sheet
- SDLT for mixed-use transactions
For a full listing of our resources and information sheets, visit our resources page on the Carpenter Box website.
30 April 2022
- Filing deadline for corporation tax return self-assessment form CT600 for period ended 30 April 2021 to be submitted to HMRC.
- Deadline for filing your annual accounts is 9 months after your company's financial year ends.
01 May 2022
- Corporation tax payment due for year end 31 July 2021, for those companies not liable to pay their liability by instalments.
- Due date for March VAT returns unless exempted.
19 May 2022
- Construction Industry Scheme: monthly return due for period up to 5th of previous month.
- If you pay by cheque through the post, pay PAYE, class 1 NICs, student loan deductions and deductions from payments to subcontractors for the month up to the 5th of this month.
21 May 2022
- Due date for payment of supplementary declarations for April 2022.
22 May 2022
- If paying electronically, pay PAYE, class 1 NICs, student loan deductions and deductions from payments to subcontractors for the month up to the 5th of this month.
31 May 2022
- Filing deadline for corporation tax return self-assessment form CT600 for period ended 31 May 2021 to be submitted to HMRC.
- Deadline for filing your annual accounts is 9 months after your company’s financial year ends.
- Deadline for issuing P60s to employees for 2021/22.