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.

 

Latest Feeds

Business gathering: Director Michaela Johns attended the Business Hub Romsey Social at the beautiful Kimbridge Barn venue in the town.

She said it was an excellent opportunity to catch up with local businesses and meet new connections.

Thank you to Business Hub Romsey for hosting.

Contact us at HWB today for all your accountancy and business advisory needs.
T: 023 8046 1200
E: [email protected]

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Business gathering: Director Michaela Johns attended the Business Hub Romsey Social at the beautiful Kimbridge Barn venue in the town.She said it was an excellent opportunity to catch up with local businesses and meet new connections.Thank you to Business Hub Romsey for hosting.Contact us at HWB today for all your accountancy and business advisory needs. T: 023 8046 1200 E: admin@hwb-accountants.com

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Companies House pauses plan for small and micro businesses to file P&L accounts

Plans requiring small companies and micro entities to submit their profit and loss (P&L) accounts to Companies House have been put on hold, with the previously expected April 2027 start date now officially off the table.

Read the full article by clicking the link in our bio

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Companies House pauses plan for small and micro businesses to file P&L accountsPlans requiring small companies and micro entities to submit their profit and loss (P&L) accounts to Companies House have been put on hold, with the previously expected April 2027 start date now officially off the table.Read the full article by clicking the link in our bio

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FRS 102: Upcoming changes to revenue recognition

Many companies have now entered, or are about to enter, the accounting periods in which the revised FRS 102 revenue recognition amendments take effect.

Read the full article by clicking the link in our bio

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Open post by hwbaccountants with ID 17925218115267515
FRS 102: Upcoming changes to revenue recognitionMany companies have now entered, or are about to enter, the accounting periods in which the revised FRS 102 revenue recognition amendments take effect.Read the full article by clicking the link in our bio

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R&D Tax Relief, a reminder of the recent changes

There have been many changes lately surrounding this corporation tax relief and below we have summarised the updates to this tax relief that are likely to have the greatest impact on companies.

Read the full article by clicking the link in our bio

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Open post by hwbaccountants with ID 18112875193669131
R&D Tax Relief, a reminder of the recent changesThere have been many changes lately surrounding this corporation tax relief and below we have summarised the updates to this tax relief that are likely to have the greatest impact on companies.Read the full article by clicking the link in our bio

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Quiz night: On Thursday evening, a team from HWB took part in the Rose Road Association Quiz. Representing HWB were (from left) Nick Whitemore, Matt Pickett, Brendon Reis and Matt Cooper.

The event was held at the Concorde Club in Eastleigh—a fantastic venue with a brilliant atmosphere for a quiz night. Despite competing as a team of four instead of the usual six, and facing some seriously challenging questions, they secured a respectable 6th place and were very pleased with the result!

Most importantly, the team were proud to support the Rose Road Association. This charity provides vital services including overnight respite breaks, community outreach, care at home, day services both onsite and offsite, holiday and Saturday playschemes, and SEN advice. Their work benefits hundreds of children and young adults with complex physical and learning disabilities across Southampton and the wider region.

As specialist charity accountants, HWB is committed to supporting organisations of all sizes—from new start-ups to long-established charities, as well as clubs, membership bodies, and social enterprises.

Get in touch for all your accountancy and business advisory needs:
T:023 8046 1200
E: [email protected]

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Open post by hwbaccountants with ID 18328532104247755
Quiz night: On Thursday evening, a team from HWB took part in the Rose Road Association Quiz. Representing HWB were (from left) Nick Whitemore, Matt Pickett, Brendon Reis and Matt Cooper.The event was held at the Concorde Club in Eastleigh—a fantastic venue with a brilliant atmosphere for a quiz night. Despite competing as a team of four instead of the usual six, and facing some seriously challenging questions, they secured a respectable 6th place and were very pleased with the result!Most importantly, the team were proud to support the Rose Road Association. This charity provides vital services including overnight respite breaks, community outreach, care at home, day services both onsite and offsite, holiday and Saturday playschemes, and SEN advice. Their work benefits hundreds of children and young adults with complex physical and learning disabilities across Southampton and the wider region.As specialist charity accountants, HWB is committed to supporting organisations of all sizes—from new start-ups to long-established charities, as well as clubs, membership bodies, and social enterprises.Get in touch for all your accountancy and business advisory needs: T:023 8046 1200 E: admin@hwb-accountants.com

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Salary Sacrifice: Tax efficient options for employers and employees

With costs rising, many employers and employees are looking for practical ways to reduce outgoings without cutting benefits. Salary sacrifice can be an excellent tool to do this, but many businesses overlook it.

Read the full article by clicking the link in our bio

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Open post by hwbaccountants with ID 18109667308840872
Salary Sacrifice: Tax efficient options for employers and employeesWith costs rising, many employers and employees are looking for practical ways to reduce outgoings without cutting benefits. Salary sacrifice can be an excellent tool to do this, but many businesses overlook it.Read the full article by clicking the link in our bio

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