Andy Gibbs

Norwich

Contributor at TaxAssist Accountants

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Articles

How to complete a VAT invoice

1 month ago | taxassist.co.uk | Andy Gibbs

Andy is a qualified Chartered Tax Adviser (CTA), holds the STEP Advanced Certificate in Trust and Estate Accounting, and has dealt with both tax compliance and tax advisory projects across a range of industry sectors. He joined us from one of the big four accountancy firms where he looked after the affairs of high-net-worth individuals and private equity executives.
What will a new Government mean for you and your business?

Jul 4, 2024 | taxassist.co.uk | Andy Gibbs

Taxation Labour’s manifesto promises not to increase Income Tax, National Insurance, VAT rates and the main rate of corporation tax. The manifesto is surprisingly light on firm tax commitments, so speculation on future changes will continue until further details are provided, most likely in an additional budget or fiscal announcement.
200 Runners brave the elements in Highworth five-mile race

Apr 9, 2024 | swindonadvertiser.co.uk | Andy Gibbs

Race leaders Oliver Sherratt and Felix Wernham head to head in the lanes (Image: Highworth Running Club) 197 runners braved the blustery winds to take on the Highworth 5-mile running race on Sunday. The 37th edition of this annual event organised by Highworth Running Club was supported by runners from the town and also several local clubs.
Rise in inheritance tax receipts leaves more out of pocket

Oct 17, 2023 | taxassist.co.uk | Andy Gibbs

Prime Minister Rishi Sunak recently refused to rule out a potential future cut to IHT, but ignited speculation that the Government may reduce taxes by not directly addressing the issue, but instead committing to focus on the fight to reduce inflation. For families liable to IHT, it is important to remember that since it was introduced in March 1986 to replace the capital transfer tax, there has been constant speculation that IHT may be replaced, reduced or even abolished.
What data does HMRC use to investigate your business and personal finances?

Jul 12, 2023 | taxassist.co.uk | Andy Gibbs

So, what data does HMRC hold on your business and personal finances? The answer, a lot. This Is Money recently reported there are now 55 billion items of data relating to taxpayers in its 'Connect' system. HMRC’s ‘Connect’ system is an artificial intelligence system which pulls in data from a vast number of sources to help HMRC identify tax evasion.
High earning employees’ tax affairs to become less certain

Jul 4, 2023 | taxassist.co.uk | Andy Gibbs

When is the tax threshold changing for employees? From the 2023-24 tax year onwards, employees who are only taxed through PAYE will see the threshold where they need to file an individual tax return increase from £100,000 to £150,000. This change will not impact individuals who must file a tax return for other reasons.
Tax and rule changes holiday home owners need to know

May 11, 2023 | taxassist.co.uk | Andy Gibbs

Rental platforms will share users’ information with HMRC from January 2024Planning permission required for a property to be used as a short-term letNew mandatory national register for short-term letsNew business rates rules for holiday letsPlans to charge VAT on holiday rental accommodation in the EUAutomatic and global sharing of information with HMRCRental platforms in the UK, such as Airbnb, already share information with HMRC. From 1st January 2024 HMRC’s reach will be automatic and global.
Budget 2023: Pension Tax Changes

Mar 14, 2023 | taxassist.co.uk | Andy Gibbs

Choose the right accounting firm for youRunning your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch? Local business focusWe specialise in supporting independent businesses and work with over 78,771 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
How to reduce the impact of the April tax increases

Feb 23, 2023 | taxassist.co.uk | Andy Gibbs

The April 2024 tax changes at a glanceScottish income tax changes Dividend allowance reduction  Frozen tax rates National Insurance rate changes  Reduced Capital Gains Tax annual exempt amount Reduced Capital Gains Tax higher rate High income child benefit charge changes ISA rule changes VAT thresholds increasedPersonal Taxation A new income tax advance rate threshold has been introduced from £75,001 to £125,140 at 45% from 6th April 2024.