UK Archives - Animo Associates

24th September 2021
HMRC begins compliance checks in line with new IR35 rules
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Nearly six months from the introduction of a new IR35 regime in the private sector, HMRC has started IR35 compliance checks in both the financial services and the oil and gas sectors. With effect from April 2021, the new IR35 rules apply to large and medium-sized businesses in the private sector that engage contractors. These […]
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3rd September 2021
Should my company expand internationally?
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Taking the leap and expanding internationally can be a daunting thought for many businesses, but it can also be the decision that makes or breaks your success. Expanding your international presence can bring a plethora of new and exciting opportunities to your business, but it is vital that you ensure your business is ready to […]
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19th July 2021
Should the UK Hospitality sector be expecting a ‘Roaring 20s’ revival?
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It has been just over one year since the discovery of the coronavirus Sars-CoV-2 by Chinese Scientists, the source of a new, lethal respiratory disease that has controlled and overwhelmed the everyday lives of populations worldwide. More than 1.5 million people have died globally as a result of the pandemic, events and holidays were firmly […]
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8th June 2021
G7 makes landmark agreement to confront tax avoidance
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Ahead of their annual summit, leaders of the world’s most wealthy and influential countries met to discuss new plans to tackle tax avoidance amongst large multinational conglomerates. During their meet World Leaders made history by signing a landmark deal designed to tackle tax and establish a minimum global corporation tax. The main goal of the [...]
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4th June 2021
The EU progresses with DAC 7 proposals to share digital platform tax information
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The EU Council recently announced the adoption of new tax transparency rules for digital platforms under a directive called “DAC 7” (Directive 2021/514). Adopted on 22 March 2021 by the EU Council, the directive introduces specific reporting obligations for digital platforms. The overall aim of this Directive is to improve administrative cooperation in the field [...]
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2nd June 2021
Should my small business apply for the restart grant?
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In his 2021 Budget, Chancellor of the Exchequer, Rishi Sunak, vowed to do "whatever it takes" to help rebuild the economy, following the acute damage caused by COVID-19 and forge a path to economic recovery "providing support for jobs and businesses as we emerge from the pandemic". His three-part plan for economic recovery included a [...]
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24th May 2021
Why does your small business need a website?
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A website is one of the best assets you can acquire – whether you are an online business or not. With the continued rise of the internet, its influence on how we live and work, and its determination to keep rising, it is more important than ever to ensure you have a professional web presence [...]
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17th May 2021
UK Government announces initiative to secure competitive edge in fintech industry
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Recently, during the United Kingdom’s Fintech Week, Chancellor of the Exchequer Rishi Sunak revealed new plans to enhance the UK’s competitive advantage in the Fintech Industry. This announcement included the promise of regulatory support and reforms in helping firms grow a new task force to lead the UK’s work on a central bank digital currency. [...]
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26th April 2021
What is next for the UK’s trust register?
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It was recently announced that a broader range of trusts would need to be added to the trust register, with a deadline of Autumn 2022. Under new rules, which took effect in October 2020, registration is no longer limited to trusts with a UK tax liability. Instead, to ensure transparency, all existing UK trusts and [...]
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15th April 2021
How have the UK’s tax transparency reporting regulations changed since Brexit?
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In 2018 the EU imposed a new directive known as DAC6 in an effort to promote tax transparency. The UK transposed DAC6 into national legislation in 2020 even though Brexit plans were well underway and implemented DAC6 regulations into their cross-border tax reporting regime. However, since Brexit and the global pandemic, reporting deadlines in regards [...]
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12th April 2021
What does the Supreme Court ruling mean for Uber’s drivers?
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Earlier this year, on the 19th of February 2021, the UK Supreme Court finally reached a verdict on their six-year-long court case challenging Uber’s drivers' classification. The court announced their decision regarding United Kingdom Uber Drivers' employment status, stating they must now be classed as workers, a change from their previous status as self-employed contractors. [...]
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6th April 2021
The UAE to invest £800million into the UK’s Life Sciences Industry
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On the 24th March 2021 the Department of International Trade, along with Lord Grimstone of Boscobel KT, announced the signing of a long-term agreement between themselves and Abu Dhabi’s Mubadala Investment Company – one of the world’s leading sovereign investors. The new Sovereign Investment Partnership will see £800 million invested in the UK’s Life Sciences [...]
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29th March 2021
What should SME’s be aware of following the 2021 Budget?
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Earlier this month, on the 3rd March 2021, Chancellor of the Exchequer Rishi Sunak announced his 2021 Spring Budget Review. His plan was based on three principles; Continue to do whatever it takes to support the British people and businesses through the current period of crisis Begin to fix public finances now the UK is [...]
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26th March 2021
The UK Announces An Outline To Their Future Tax Administration Strategy
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Following the announcement of the United Kingdom’s Spring 2021 Budget on the 3rd March 2021, the Government has since released an outline of their future Tax Administration Strategy through their Tax Policies and Consultations for Spring 2021, released on 23rd March 2021. This strategy outlines a future pathway for the UK’s tax administration and tax [...]
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19th March 2021
What should you be aware of with updates to Tax Rates in 2021/2022?
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Following the 2021 budget announcement from the Chancellor of the Exchequer Rishi Sunak, many new tax updates will start to take shape in the everyday lives of the British public. From Income Tax Allowance to Stamp Duty and even Car and Van benefits, the Chancellor ensured that businesses and the British Public were kept front [...]
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15th March 2021
Has Coronavirus spurred a rise in entrepreneurship?
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The discovery of the novel coronavirus in late 2019 shifted our realities drastically, and no one could have predicted just how much of an effect it could have on our everyday lives, let alone be able to prepare for the subsequent results adequately. Societies and economies worldwide experienced an unprecedented shock to their systems, and [...]
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5th March 2021
Everything you need to know about the UK’s 2021 Budget
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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 [...]
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1st March 2021
SME’s to modernise, go digital and create more jobs with £8m in new Government Funding
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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. [...]
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25th February 2021
Animo Spreads Smiles with NHS Donations
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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 [...]
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22nd February 2021
The UK takes strides in Green Finance
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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, [...]
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15th February 2021
HMRC announces update on Stamp Duty Land Tax (SDLT) for Non-UK residents
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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 [...]
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1st February 2021
How Has Brexit Affected Europe’s Financial Sector?
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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, [...]
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27th January 2021
A Quick Guide to VAT for UK Businesses
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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 [...]
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20th January 2021
Why is London an excellent location for business ventures?
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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 [...]
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12th January 2021
How to account for your VAT on digital services as a UK company from January 2021
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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 [...]
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6th January 2021
Everything you need to know about the UK-EU trade deal
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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 [...]
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4th January 2021
On the other side – What to expect now the Transition Period has ended
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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 [...]
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14th December 2020
Preparing for the end of the Brexit transition period – Implications for UK Nationals in the EU
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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 [...]
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11th December 2020
Government to publish details of Furlough claims made over the Festive Period
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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 [...]
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30th November 2020
Why is ‘No Deal Brexit’ a big deal?
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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 [...]
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