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Explore insightful articles, tips, and industry updates from RMT. Stay informed on the latest trends, innovations, and best practices in accounting and business services.

MTD for ITSA delayed for two more years

Self-employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA), following a government announcement today (19 December 2022). Understanding that self-employed individuals and landlords are currently facing a challenging economic environment, and the transition to Making Tax Digital (MTD) for Income Tax Self Assessment

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Chancellor launches financial sector reforms

On 9 December, the Chancellor of the Exchequer announced a set of reforms to drive growth and competitiveness in the financial services sector. At the Autumn Statement, the Chancellor highlighted financial services as one the UK’s five key growth sectors. In a written statement to Parliament on 9 December 2022, the Chancellor set out a

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Brexit deal not delivering for businesses

Thousands of businesses across the UK have been having to get to grips with new rules surrounding VAT, imports and exports since the Brexit transition period ended at the start of this year. More than three quarters (77%) of firms, for which the Brexit deal is applicable, say it is not helping them increase sales or grow their business More than half (56%) of

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Bank of England raises base rate

The Bank of England Monetary Policy Committee voted on 15 December 2022 to increase the Bank of England base rate to 3.5% from 3%. HMRC interest rates are linked to the Bank of England base rate. As a consequence of the change in the base rate, HMRC interest rates for late payment and repayment will increase. These changes

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Government extends mortgage guarantee scheme

The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023, helping people with 5% deposits on to the property ladder. The Mortgage Guarantee Scheme will be extended by a year, having already helped over 24,000 households get onto the property ladder Launched in April 2021, the scheme supports first-time

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DISPELLING MYTHS ABOUT CORPORATE FINANCE

By Michael Cantwell, head of corporate finance at RMT Accountants & Business Advisors Ambitious businesses that are looking to expand and develop tend to have a lot of things in common – an experienced management team, a robust business plan, products and/or services that stand out from the crowd and a determination to succeed, whatever

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TAXMAN’S ‘NUDGE LETTERS’ PUTTING FOCUS ON OVERSEAS ASSETS AND INCOME

By Chris Moir, Associate Director and Head of Personal Tax at RMT Accountants & Business Advisors Ltd Along with root canal work and motorway blowouts, getting a nudge from the taxman is something that most of us will be hoping to avoid. But for anyone with overseas assets, the likelihood of a nudge coming your

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RMT welcome new recruits….

RMT Accountants & Business Advisors has taken on ten new recruits across the business service and outsourcing sectors. Founded over 60 years ago, it works with UK companies of all sizes both within and outside the North East, as well as a range of international clients. RMT provides the full range of financial and business

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ASSOCIATE DIRECTOR PROMOTIONS FOR RMT TAX EXPERTS RACHEL AND CHRIS

Two long-serving members of RMT Accountants & Business Advisors’ specialist tax team have earned promotions into new senior roles. Head of Corporate Tax Rachel Warriner and Head of Personal Tax Chris Moir are now Associate Directors of the Gosforth-based firm and have taken on additional responsibilities for the management of the independent business alongside their

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