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Ten top tips for boosting your budget

Effectively managing your budget is crucial for business success, especially in challenging economic times.

Is incorporation still the way to go for solid financial planning?

From a tax planning perspective, incorporation of a business into a limited company has long been considered the gold standard in business development and growth – but is this still the right move?

Starting a seasonal business? Here is what you need to know

Are you considering launching a seasonal business? If so, you are beginning an exciting journey that comes with its own set of unique challenges and opportunities.

Earning between £100,000 and £150,000? Your tax return is changing

If you’re a high earner with between £100,000 and £150,000 in net adjusted income, you’ll soon receive a letter from HM Revenue & Customs (HMRC) regarding whether you need to continue submitting a Self-Assessment tax return.

How SMEs can benefit from £6.4 million AI training fund

The Department for Science, Innovation and Technology (DSIT) has recently introduced a vital initiative targeted at small and medium-sized enterprises (SMEs) in the Professional Business Services sector.

Concerned about Capital Gains Tax changes? Here’s what you need to know.

The start of the 2024/25 financial year saw the Capital Gains Tax (CGT) Annual Exempt Amount fall to a historic low of £3,000, down from £6,000 the previous year.

Is it time to scale up your start-up?

Scaling your start-up is a crucial decision for business owners, as it can directly impact the business’s long-term success.

How your business can benefit from using Management Accounts

Management Accounts consist of regularly updated reports for both internal managers and external stakeholders or investors.

HMRC has clarified tax rules on commuting for hybrid and remote workers

In a recent statement, HM Revenue & Customs (HMRC) has clarified travel from an employee’s home to their base office under a hybrid working arrangement does not qualify for tax relief.

Why are business plans so important?

Many believe that business plans are only necessary for start-ups and new enterprises.

News

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.  

100 days until the Self-Assessment deadline: Are you ready?

We are now only 100 days away from the Self-Assessment tax deadline on 31 January 2024.  

Newsletter October/November 2023

HMRC plans to expand the availability of cash basis accounts preparation, but will it win over businesses from the traditional accruals basis? The cash basis can currently only be used if a business’s annual turnover doesn’t exceed £150,000, so one option from HMRC is to increase this turnover limit to £1.35 million. But will this […]