More recent posts
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Further measures introduced by the Chancellor to support people, jobs and business
In a bid to ease the strain on economy, the Chancellor has followed through on his promise ‘to do whatever it takes’ to support the economy in a…
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COVID-19 Government Financial Support
We at Magma are here to support your business In what is proving to be a constantly evolving situation with COVID-19, we at Magma are staying informed on…
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The Chancellor’s COVID-19 response
Yesterday, the Chancellor announced further support for businesses and individuals which could prove invaluable to those suffering from the economic impact of the global Coronavirus pandemic. Sunak’s…
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The impact of late payments on SMEs
A recent study has shown that UK small and medium size businesses spend more than a week a year chasing late customer payments, worth more than £50bn. Published…
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The deadline for Pre-Brexit EU VAT Refund Claims is 31 January 2020
As we know, the UK is set to leave the European Union on 31 January 2020. This will have an impact on EU VAT refund claims. The HMRC…
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What happened to the Budget?
The annual Budget Statement is usually a big event in our world, but 2019 will be the year without a Budget! Last month we were advised that the…
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Spring Statement 2019 – Tax Update
With Brexit continuing to dominate the headlines, the Chancellor’s Spring Statement arrived under quieter fanfare this year. Keeping to the brief of only having one major fiscal event…
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Making Tax Digital is mandatory from 1 April 2019 – are you ready?
As reported previously, from 1 April 2019 Making Tax Digital (MTD) will be compulsory for VAT-registered businesses with a turnover above the current VAT registration threshold of £85,000.…
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Outsourcing payroll – doesn’t it make sense for your business?
Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll.…