- Chancellor Of The Exchequer Rishi Sunak announced his 2021 Budget on Wednesday 3rd March 2021. He based his new budget on a three-part plan to protect the jobs and livelihoods of the British people. His key three points were as follows; Continue to do whatever it takes to support the British people and businesses through [...]
SME’s to modernise, go digital and create more jobs with £8m in new Government Funding
The government announced £8m in funding to help SME’s modernise, go digital, and ultimately create new jobs on the 18th February 2021. This new funding is to be used directly to adopt cutting-edge digital technologies to improve manufacturing processes. The new funding is hoped to build back better by increasing businesses' productivity and reducing emissions. [...]Animo Spreads Smiles with NHS Donations
Animo Associates continually strives to positively impact our local communities as much as we can and we are always looking to support those in need. Recently we were made aware of Thurloe Hogdson, a local Essex resident who, since the start of the first lockdown in March 2020, has been supporting communities by collecting and [...]The UK takes strides in Green Finance
The UK has taken strides with its development towards the global Green Finance initiative, thanks to £10m in new funding, as announced by Energy Minister Anne-Marie Trevelyan on 15th February 2021. The new UK Centre for Greening Finance and Investment will begin in April 2021, with physical roots in London and Leeds opening soon after, [...]HMRC announces update on Stamp Duty Land Tax (SDLT) for Non-UK residents
The HMRC has announced new information regarding the Stamp Duty Land Tax (SDLT) surcharge for non-residents purchasing a property in England and Northern Ireland from 1st April 2021. The announcement from the HMRC to the ATT read as follows; "Purchases of land and buildings in England and Northern Ireland are subject to Stamp Duty Land [...]How Has Brexit Affected Europe’s Financial Sector?
London has long been considered Europe’s leading financial hub with many European Countries having relied on its financial services expertise over the years, and carrying out a majority of their economic activities either directly or indirectly out of London. The UK relies heavily on London’s financial sector – contributing 12% of the UK’s total GDP, [...]A Quick Guide to VAT for UK Businesses
What is VAT? Value Added Tax (VAT) is a type of end consumer tax that is generally assessed incrementally. VAT is usually levied on the price of a product or service at each stage of production, distribution, and/or sale to the end customer. Ultimately, it is just the additional charge on goods and services supplied [...]Why is London an excellent location for business ventures?
London has always and will most like always be, considered to be one of the worlds key international business hubs. Its sprawling metropolis boasts innovation, venture capitalism and diversity and its convenient time zone and culture allows effortless international relations. London offers businesses – whether they international conglomerates, SME’s or start-ups just beginning their professional [...]How to account for your VAT on digital services as a UK company from January 2021
Following the UK becoming the first-ever EU member state to officially leave the single market on 31st December 2020, many businesses will be forced to reconsider their trade operations, and especially how they account for their VAT on digital services. Thankfully, with the last-minute settlement of a Brexit EU-UK trade deal, this confirmed an unprecedented [...]Everything you need to know about the UK-EU trade deal
After an intensive four year period, and nine months of discussions, a Brexit Trade Deal between the EU and UK was finally agreed upon on 24th December 2020 and approved on the 31st December 2020, not a moment too soon before the transition period came to an end. This meant that trade regulations have been able to [...]On the other side – What to expect now the Transition Period has ended
On the 31st of January 2020, the UK officially left the EU. This then trigged a ‘transition period’ as per the withdrawal agreement. This transition period has meant that operations between the UK and the EU have been conducted in the same way that they were previously were. However, from midnight on the 31st December [...]Preparing for the end of the Brexit transition period – Implications for UK Nationals in the EU
What are my rights currently? On the 31st January 2020, the United Kingdom officially left the European Union. A withdrawal agreement was agreed upon by both parties and thus initiated a transition period from the 1st Feb 2020 until the 31st December 2020. During this transition period British Citizens and their families will have the [...]Government to publish details of Furlough claims made over the Festive Period
On the 5th November 2020 Chancellor of the Exchequer, Rishi Sunak, confirmed that the Coronavirus Job Retention Scheme (CJRS) would be extended until March 2021, instead of ending as expected in October 2020. This was due to the ongoing economic turbulence created by the outbreak of the Coronavirus. This allowed companies to claim up to [...]How to prepare for the end of the Brexit transition period – VAT Mini One Stop Shop
What is the Mini One Stop Shop (MOSS)? The Mini One Stop Shop allows taxable persons (such as businesses) who supply digital telecommunication services to non-taxable persons within any member state of the EU, to account for their VAT on all services supplied in the member state that they are operating from. This allows businesses [...]Why is ‘No Deal Brexit’ a big deal?
On the 31st of December 2020, the transition period will end, and the UK will leave the EU single market and customs union. It is becoming increasingly likely that before this time the UK will not have agreed to a trade deal with the EU, resulting in a No-Deal, ‘Hard’ Brexit. The EU and UK [...]A budding opportunity for the CBD industry
The CBD industry recently received the boost it’s been waiting for as the European Union’s Highest Court officially ruled that it is not a narcotic. The announcement authoritatively stated; “A Member State may not prohibit the marketing of cannabidiol (CBD) lawfully produced in another Member State when it is extracted from the Cannabis Sativa plant [...]What is the Green Industrial Revolution?
Boris Johnson – Prime Minister of the United Kingdom, recently announced his new 10-point-plan for a ‘Green Industrial Revolution’. His new plan will be centred around the UK’s industrial heartlands – the North of England, the Midlands, Scotland, and Wales with ambitions to generate 250,000 new jobs in these areas in the carbon capture, electric [...]Why does your business need strategic business management support and corporate services?
Every credible and successful business will require business management support in some form over their lifetime. Companies are often then faced with a few choices, to ensure they are optimising operations; either hire an in-house team, outsource each service from a third-party provider, or hire an all-encompassing entity, such as a Corporate Service Provider to [...]Everything you need to know about the new British Nationals (Overseas) Visa
The United Kingdom Government has opened a new bespoke Visa route for British Nationals (Overseas), which has been available from 31 January 2021. This new option for Hong Kong nationals was announced in light of the recent National Security law which China has now imposed on the people of Hong Kong, and in recognition of [...]COVID rules are changing again – the new Lockdown restrictions you should be aware of
On the 31st of October, just two weeks after the last update on COVID restrictions, Prime Minister Boris Johnson announced another change to England’s Coronavirus precautionary restrictions. These restrictions only apply to England, while the other members of the United Kingdom remain under different restrictions, enforced by their own local governance. The Prime Minister has [...]Why have Fintech Challenger Banks disrupted the Business Banking World?
The notion of fintech (financial technology), isn’t exactly a new concept, with online banking dating back to the 1980s. Even if you’re not significantly aware of it, fintech is like a big part of both your personal and professional life. You might split the bill at dinner by using Venmo, tap your phone to pay [...]Why are Double Taxation Agreements useful for Businesses?
A Double Taxation Agreement is a treaty acknowledged by two countries to protect residents who conduct business operations between two locations against the risk of double taxation where the same income tax is liable in both locations. These agreements allow businesses to operate between these two locations without paying excessive taxes, providing certainty for cross-border [...]The COVID rules are changing again!
Yesterday, on the 12th October 2020, the Prime Minister; Boris Johnson, announced to the House of Commons a new set of restrictions that will be placed on England as of the 14th October 2020. The new restrictions will see England being divided into three separate tiers, based on the rate of infection and the rise [...]How should you be preparing to trade with the EU from January 2021?
This year, on the 31st Jan 2020 at 11 pm, the United Kingdom officially left the European Union, four years after the initial national referendum. As a result, the UK entered into a transition period, which allowed businesses some extra time to make the necessary preparations for a post Brexit marketplace. The deadline for this [...]Introducing Animo UK – The Royal Asset
At Amino Associates, we are fortunate to have the advantage of being based worldwide in various international offices. Over the next week we will be posting a series of insights, reintroducing each location individually and the multiple advantages it brings to our company. To start off our ‘Introducing’ series, we would like to proudly present [...]UK Government Autumn Statement
The first Autumn Budget was delivered this week amidst immense pressure to deliver something ‘spectacular’ and with some deeming it to be a ‘make or break’ Budget for the Chancellor. Some of the announcements were expected, a number of new measures announced were rather surprising.
Making Tax Digital – Update July 2017
The UK Budget 2015 introduced the Making Tax Digital (‘MTD’) initiative and outlined HMRC’s vision of transforming the UK tax system by executing it via a digitalised platform. Whilst intended to come into force in April 2018, there was widespread concern amongst business owners, professionals and governing bodies in respect of the pace and scale of changes being introduced.
- 25th July 2017
The Treasury recently announced the introduction of a second Finance Bill for 2017 to legislate for provisions which were dropped in the earlier bill in light of the UK General Election. It has provided a list of provisions deemed to take effect from the beginning of the current tax year, allowing advisers to provide taxpayers with some measure of certainty.