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

Charity Trustees Gain New Powers for Moral Payments

Charity trustees in England and Wales now have new legal powers when considering moral payments: payments made because there is a moral rather than strictly legal obligation to transfer some of a charity’s property.

This is the final provision in Charities Act 2022 to come into effect.

Read the full article by clicking the link in our bio

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Charity Trustees Gain New Powers for Moral Payments Charity trustees in England and Wales now have new legal powers when considering moral payments: payments made because there is a moral rather than strictly legal obligation to transfer some of a charity’s property.This is the final provision in Charities Act 2022 to come into effect.Read the full article by clicking the link in our bio

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Capital allowances update Budget 2025

For 2026/27, the continued availability of the annual investment allowance (AIA) means that qualifying new capital expenditure you make of up to £1 million can be relieved in full against the taxable profits of your business.

Read the full article by clicking the link in our bio

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Capital allowances update Budget 2025 For 2026/27, the continued availability of the annual investment allowance (AIA) means that qualifying new capital expenditure you make of up to £1 million can be relieved in full against the taxable profits of your business.Read the full article by clicking the link in our bio

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Happy New Year from all of us at HWB!😊🎉

We hope that everyone had a fantastic Christmas break and are looking forward to the new year. Here`s to a healthy and prosperous 2026!

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Happy New Year from all of us at HWB!😊🎉We hope that everyone had a fantastic Christmas break and are looking forward to the new year. Here's to a healthy and prosperous 2026!

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South Wilts Grammar School Carol Service: It was a privilege to attend the annual Carol Service at South Wilts Grammar School. The evening was marked by a thoughtful programme of traditional carols, performances, and readings that beautifully reflected the spirit of the season.

The dedication of the students, staff, and musicians was evident throughout, creating an atmosphere of reverence and celebration. This gathering not only showcased musical excellence but also highlighted the strength of community and tradition.

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South Wilts Grammar School Carol Service: It was a privilege to attend the annual Carol Service at South Wilts Grammar School. The evening was marked by a thoughtful programme of traditional carols, performances, and readings that beautifully reflected the spirit of the season.The dedication of the students, staff, and musicians was evident throughout, creating an atmosphere of reverence and celebration. This gathering not only showcased musical excellence but also highlighted the strength of community and tradition.

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Charity SORP 2026 released

The Charity SORP Committee released the 2026 Statement of Recommended Practice (SORP) in October, following a public consultation on draft proposals featuring a number of significant changes to charity financial reporting.

As specialist charity accountants, we at HWB support a range of clients range from new start-up charities to centuries-old, from clubs and membership organisations to social enterprises.

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

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Charity SORP 2026 releasedThe Charity SORP Committee released the 2026 Statement of Recommended Practice (SORP) in October, following a public consultation on draft proposals featuring a number of significant changes to charity financial reporting.As specialist charity accountants, we at HWB support a range of clients range from new start-up charities to centuries-old, from clubs and membership organisations to social enterprises.Contact us today for all your accountancy and business advisory needs: T: 023 8046 1200 E: admin@hwb-accountants.com

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NCSC launches free cyber action toolkit

The National Cyber Security Centre (NCSC) has launched a new free Cyber Action Toolkit to help small businesses strengthen their cyber defences in a simple and affordable way.

The toolkit has been designed for businesses that may not have in-house IT expertise or large security budgets, offering clear, practical steps that can be implemented straight away.

Read the full article by clicking the link in our bio

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NCSC launches free cyber action toolkit The National Cyber Security Centre (NCSC) has launched a new free Cyber Action Toolkit to help small businesses strengthen their cyber defences in a simple and affordable way.The toolkit has been designed for businesses that may not have in-house IT expertise or large security budgets, offering clear, practical steps that can be implemented straight away.Read the full article by clicking the link in our bio

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Dividend tax rates rising in April 2026: What does it mean for profit extraction?

The recent Budget confirmed that dividend tax rates will increase from 6 April 2026. For dividends that fall within an individual’s basic and higher rate tax band the tax rate will increase by 2%.

For many small and medium-sized companies, dividends play a key role in any form of remuneration planning. With the income tax rates rising on dividends, pay and profit extraction strategies will likely need a fresh look for 2026/27.

Read the full article by clicking the link in our bio

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Dividend tax rates rising in April 2026: What does it mean for profit extraction? The recent Budget confirmed that dividend tax rates will increase from 6 April 2026. For dividends that fall within an individual’s basic and higher rate tax band the tax rate will increase by 2%.For many small and medium-sized companies, dividends play a key role in any form of remuneration planning. With the income tax rates rising on dividends, pay and profit extraction strategies will likely need a fresh look for 2026/27.Read the full article by clicking the link in our bio

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Our team at HWB would like to wish you and your families a very Merry Christmas and happy holidays 🎄😊🎁

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Our team at HWB would like to wish you and your families a very Merry Christmas and happy holidays 🎄😊🎁

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