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HMRC updates bank details for tax payments – What businesses need to know 

Keeping up with tax payments is something every business owner knows is important.  

How to effectively manage business expenses and improve profitability

Effective expense management is key to driving profitability in any business.

Is setting up a limited company as a freelancer the right move for you?

If you’re enjoying the freedom and flexibility that comes with freelancing, you might be wondering if it’s time to take the next step and set up a limited company.

HMRC cut advisory company car fuel rates – What does this mean for your business? 

If your business reimburses employees for business travel in their company cars or if employees are required to repay fuel costs for private travel, it is important to keep up to date with the advisory fuel rates set out by HM Revenue and Customs (HMRC). 

Why outsourcing payroll could be the key to lifting your business burden

With this week being National Payroll Week, it’s a great time to explore how businesses manage their payroll and if they are being effective enough.

What if the Chancellor increases Capital Gains Tax? A look ahead to the Budget 

As we approach the Autumn Budget on 30 October, speculation is rife about potential changes that could impact taxpayers across the UK.  

How to protect your business from HMRC-related scams

We’ve all become increasingly savvy when it comes to identifying scams, yet this hasn’t deterred fraudsters, who are finding new ways and schemes to trick businesses into parting with their hard-earned profits.

HMRC investigating tax obligations of those who breed and sell animals 

As more people turn their passion for breeding and selling animals into a source of income, HM Revenue & Customs (HMRC) will be writing to people to ensure that those involved in these activities are paying the correct tax.  

Tax planning tips for minimising dividend tax liability 

As a business owner, managing your income well is vital for sustaining both your business’s health and your personal finances.  

Cost-cutting strategies for SMEs amid energy price increases 

Economic uncertainty often forces businesses to seek ways to reduce expenses without sacrificing quality or service.  

News

Newsletter Jul/Aug 2024

Newsletter Jul/Aug 2024 HMRC is on track to meet the April 2026 delivery date when Making Tax Digital (MTD) will be mandated for the first tranche of self-employed taxpayers. Although you may be tempted to put off setting up new working practices, there could be some advantages in joining early. Click here to read the […]

Getting ready for your financial audit

Facing your first financial audit can be intimidating, yet it is an essential task for many businesses.

Newsletter Apr/May 2024

Newsletter Apr/May 2024 From 6 April 2024, the high income child benefit charge (HICBC) threshold has increased by £10,000 to £60,000, with the rate of withdrawal halved. Longer term, the intention is that the charge will move to a household basis from 6 April 2026. Click here to read the full article >>

The Budget 2024

The Budget 2024 Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Click here to read the full article >>

Higher rate taxpayer? How to prepare for the end of the tax year

The end of the financial year is coming. 5 April is crunch time for making businesses and individual estates as tax efficient as possible.

Newsletter Jan/Feb 2024

Newsletter Jan/Feb 2024 Married couples and those in a civil partnership are being urged by HMRC to check whether they can benefit from the marriage allowance. It takes just 30 seconds to see if you are eligible for an annual tax saving of up to £252. Click here to read the full article >>

New payrolling of Benefits-in-Kind (BIK) system: A guide for SMEs 

From April 2026, small and medium-sized businesses will be required to report and pay taxes on employee benefits like company cars and accommodation directly through their payroll software.

Warning to all taxpayers – Pay your taxes on time amidst rising interest rates 

As the deadline for paying any tax approaches, it is crucial you make your payments accurately and on time before it is too late.

Autumn Statement 2023

Autumn Statement 2023 Jeremy Hunt’s second Autumn Statement was set against a much less financially turbulent background than his first. However, politics still loomed large with a likely election in the next 12 months prompting calls for tax cuts from within the Conservative party. Until recently the Chancellor had attempted to stall such demands with […]

Understanding loss carry-back claims

In the unpredictable world of business, it’s not uncommon for companies to experience financial losses.