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New Forest

25/10/2022

Zero Rating of Face Masks

HMRC have issued Brief 11 (2022) on 24 October 2022 to confirm that they now accept face masks that are designed for children under age 14 will qualify as an item of clothing and will therefore fall to be zero rated.

The Revenue are updating their general guide into the zero rating of children's clothing, Notice 714, to reflect this change of view.

As this is not a change of law, but simply a change of HMRC interpretation, it is open to academies that have charged VAT on the sale of face masks to make an error correction, subject to the usual time limits.

 

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Academy Trust Handbook 2026 Changes

We have summarised the changes made to the Academy Trust Handbook (ATH) 2026 in an easy to use factsheet.

https://www.hwb-accountants.com/wp-content/uploads/Academy-Trust-Handbook-2026-Changes.pdf

For further information on the ATH, please contact us on 023 8046 1200 or email [email protected].

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Open post by hwbaccountants with ID 18100411958183322
Academy Trust Handbook 2026 ChangesWe have summarised the changes made to the Academy Trust Handbook (ATH) 2026 in an easy to use factsheet.https://www.hwb-accountants.com/wp-content/uploads/Academy-Trust-Handbook-2026-Changes.pdfFor further information on the ATH, please contact us on 023 8046 1200 or email admin@hwb-accountants.com.

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Update on Payrolling Benefits

HM Revenue and Customs (HMRC) has updated the interim guidance for mandatory payrolling to announce a new phased approach for all reportable Benefits in Kind (BiKs) and expenses from April 2027.

To read the full article click the link in our bio.

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Open post by hwbaccountants with ID 18400805707090787
Update on Payrolling BenefitsHM Revenue and Customs (HMRC) has updated the interim guidance for mandatory payrolling to announce a new phased approach for all reportable Benefits in Kind (BiKs) and expenses from April 2027.To read the full article click the link in our bio.

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HMRC introduces targeted advance assurance service for R&D claims

From 18 May 2026 onwards, HMRC will now have two types of advance assurance for R&D claims. With R&D claims being more closely scrutinised by HMRC this can prove to be a very useful tool for some companies, as they will have clarity whether their R&D claim will be approved by HMRC or not prior to submission.

Click the link in our bio to read the full article

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Open post by hwbaccountants with ID 18060032516745974
HMRC introduces targeted advance assurance service for R&D claimsFrom 18 May 2026 onwards, HMRC will now have two types of advance assurance for R&D claims. With R&D claims being more closely scrutinised by HMRC this can prove to be a very useful tool for some companies, as they will have clarity whether their R&D claim will be approved by HMRC or not prior to submission.Click the link in our bio to read the full article

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We`re delighted to launch our new online Payroll Calculator, designed to give you a fast, accurate estimate tailored to your business in just a few minutes.

If you`re interested in finding out how much outsourced payroll could cost you (with no obligation!) please visit our website: https://www.hwb-accountants.com/services/payroll/#quote

✅ Get an instant personal proposal
✅ Clear, transparent pricing with no hidden fees
✅ Tailored to your workforce and payroll requirements
✅ Compare costs and see the value of outsourcing
✅ Simple, stress-free and easy to use

Whether you`re looking to save time, reduce administrative burden, or ensure payroll is managed accurately and efficiently, our calculator provides a quick and convenient way to understand your options and the associated costs.

Take the stress out of payroll and discover the right solution for your business today.

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Open post by hwbaccountants with ID 18398138269095761
We're delighted to launch our new online Payroll Calculator, designed to give you a fast, accurate estimate tailored to your business in just a few minutes.If you're interested in finding out how much outsourced payroll could cost you (with no obligation!) please visit our website: https://www.hwb-accountants.com/services/payroll/#quote✅ Get an instant personal proposal ✅ Clear, transparent pricing with no hidden fees ✅ Tailored to your workforce and payroll requirements ✅ Compare costs and see the value of outsourcing ✅ Simple, stress-free and easy to useWhether you're looking to save time, reduce administrative burden, or ensure payroll is managed accurately and efficiently, our calculator provides a quick and convenient way to understand your options and the associated costs.Take the stress out of payroll and discover the right solution for your business today.

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Pillar Two reporting

HMRC has now fully enacted the Organisation for Economic Co-operation and Development (OECD) Pillar Two global minimum corporate tax rules. These rules are intended to ensure that large multinational enterprises pay a minimum level of tax across the jurisdictions in which they operate.

Read the full article here: https://www.hwb-accountants.com/hmrc-introduces-targeted-advance-assurance-service-for-rd-claims?utm_source=HWB+Audience&utm_medium=email&utm_campaign=6e7f0ed836-EMAIL_CAMPAIGN_2025_07_29_10_55_COPY_01&utm_term=0_-23b59ac81e-

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Open post by hwbaccountants with ID 18160331038474151
Pillar Two reportingHMRC has now fully enacted the Organisation for Economic Co-operation and Development (OECD) Pillar Two global minimum corporate tax rules. These rules are intended to ensure that large multinational enterprises pay a minimum level of tax across the jurisdictions in which they operate.Read the full article here: https://www.hwb-accountants.com/hmrc-introduces-targeted-advance-assurance-service-for-rd-claims?utm_source=HWB+Audience&utm_medium=email&utm_campaign=6e7f0ed836-EMAIL_CAMPAIGN_2025_07_29_10_55_COPY_01&utm_term=0_-23b59ac81e-

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Pillar Two reporting

HMRC has now fully enacted the Organisation for Economic Co-operation and Development (OECD) Pillar Two global minimum corporate tax rules. These rules are intended to ensure that large multinational enterprises pay a minimum level of tax across the jurisdictions in which they operate.

To read the full article follow this link: https://www.hwb-accountants.com/pillar-two-reporting

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Open post by hwbaccountants with ID 17982849986861999
Pillar Two reportingHMRC has now fully enacted the Organisation for Economic Co-operation and Development (OECD) Pillar Two global minimum corporate tax rules. These rules are intended to ensure that large multinational enterprises pay a minimum level of tax across the jurisdictions in which they operate.To read the full article follow this link: https://www.hwb-accountants.com/pillar-two-reporting

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UK tax take nears £1 trillion – what it means for you

The UK’s tax burden continues to climb, with the latest figures showing HMRC collected £938.8 billion in 2025–26 a substantial 9.3% increase on the previous year.

To read the full article follow this link: https://www.hwb-accountants.com/uk-tax-take-nears-1-trillion-what-it-means-for-you

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Open post by hwbaccountants with ID 18012721949730943
UK tax take nears £1 trillion – what it means for youThe UK’s tax burden continues to climb, with the latest figures showing HMRC collected £938.8 billion in 2025–26 a substantial 9.3% increase on the previous year.To read the full article follow this link: https://www.hwb-accountants.com/uk-tax-take-nears-1-trillion-what-it-means-for-you

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Valuing your business: what buyers look for and what you can do about it

If you are thinking about selling your business, whether that is in six months or six years, one of the first questions you will probably ask yourself is “what’s it worth?”

To read the full article follow this link:https://www.hwb-accountants.com/valuing-your-business-what-buyers-look-for-and-what-you-can-do-about-it

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Open post by hwbaccountants with ID 18139421404576069
Valuing your business: what buyers look for and what you can do about itIf you are thinking about selling your business, whether that is in six months or six years, one of the first questions you will probably ask yourself is “what’s it worth?”To read the full article follow this link:https://www.hwb-accountants.com/valuing-your-business-what-buyers-look-for-and-what-you-can-do-about-it

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