On 6 March 2024, the Chancellor shared his Spring Budget, announcing various tax measures and changes, with an emphasis on encouraging more people to work with less deduction. Here we summarise the significant changes that are likely to impact our clients most.
Read MoreOn 22 November 2023, the Chancellor made his Autumn Statement, which included numerous measures which he says will “increase growth and reduce inflation and debt” and here we focus on the most significant ones that will impact our clients.
Read MoreThe 2023/24 tax year brought about several noteworthy updates that individuals and businesses alike should be aware of.
Read MoreDid you know that if your earnings are between £100k to £125k you may be subject to an unofficial effective rate of income tax of 60%?
Read MoreHMRC are introducing new penalty and interest systems surrounding the submission and payment of VAT returns so make sure you file yours on time.
Read MoreThere’s no doubt, with interest rates rising, mortgages are becoming more expensive and difficult (our opinion only) to secure to get the best mortgage deal on your next remortgage or purchase, so what can you do to prepare?
Read MoreFrom 1st April 2022, it has now become mandatory for ALL VAT registered businesses, regardless of turnover, to be compliant for Making Tax Digital (MTD) and this will apply to any VAT returns for the period ended after 30 June 2022.
Read MoreGift Aid is the main vehicle for tax-efficient giving to charities. It applies to any donation whether large or small, regular or one-off. By confirming you are a taxpayers, you can ensure that your chosen charities can reclaim the basic rate of income tax on their donations, equal to 25% of the amount donated.
Read MoreRishi Sunak delivered his Spring Statement on 23 March 2022, placing much emphasis on the strength of the UK economy, despite the consequences of the current events and the impact on the current cost of living. Here we share our key points.
Read MoreWe are fast approaching the end of the current tax year on 5 April 2022 so now is the time for reviewing any last minute tax planning opportunities and review your taxable income and pension contributions.
Read MoreHave you ever questioned if you want to do what you do anymore? Maybe you’ve just fallen out of love? We’ve all been there. You wouldn’t be human if you loved every single part of your business. But as it's the day of love, now is the perfect time to reflect on this and make sure you're doing what you love. And if not, maybe it's time to think about what you need to change to really LOVE what you do.
Read MoreAt least it certainly feels like new year for accountants and tax professionals. With the official tax filing deadline of 31st January behind us, it’s assumed we can breathe a sigh of relief that it’s all over for one more year, however just because there’s a filing deadline it doesn’t stop taxpayers from filing their tax returns throughout the year so there shouldn’t really be a last-minute rush each year.
Read MoreAs a result of the increasing impact of the Omicron variant of COVID-19, yesterday the Chancellor, Rishi Sunak, announced that solvent pub, restaurants and leisure businesses will be eligible for one-off grants of up to £6,000.
Read MoreThe Chancellor, Rishi Sunak, announced his Autumn Budget and Spending Review on 27th October 2021, citing he wants to deliver “A Stronger Economy For The British People” with a speech highlighting an emphasis on investment in innovation, economic growth and a big dose of optimism. Here’s our breakdown of some of the key points.
Read MoreWhere a UK resident individual, trustee or personal representative disposes of UK residential property and capital gains tax is due, a CGT on UK property return must be filed, together with a payment on account of CGT, within 60 days of the date of completion of the transaction.
Read MoreThis week the government announced changes and reforms to the social care system and how these reforms would be paid for.
Read MoreWe’ve seen so many different styles and types of invoices so here we share our top 10 tips to ensure your invoices are clear and contain all the right information you should need.
Read MoreThe fifth and final SEISS grant for the self-employed is now open for application but this time the amount will depend on the turnover of the business.
Read MoreWhen you work for clients you expect to be paid for the work you do. However many small businesses really struggle to get paid on time, if at all and sometimes even invoices are missed. It is so important to make sure you are clear about your payment terms and you have a system in place for your invoicing so that your clients will be clear on how they pay you and when.
Read MoreThere have been lots of changes to IR35 in the past few years and it is indeed here to stay. IR35 is also known as the off-payroll working rules, and although IR35 in itself is nothing new and has always been applicable to contractors, the new rules that come into force from April 2021 will affect many freelancers.
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