News
Why regular financial forecasting is so important
If you want to secure the long-term success of your business, we highly recommend doing some financial forecasting.
Newsletter Oct/Nov 2024
Newsletter Oct/Nov 2024 More people will have to pay tax on their savings interest this year due to increased interest rates coupled with a frozen tax-free savings limit. If you are in this position and do not complete annual tax…
MTD for ITSA – When will you have to report and what you need to know
You may already be familiar with Making Tax Digital (MTD), but the extension to Income Tax Self Assessment (ITSA) is something many self-employed individuals and landlords need to start preparing for.
The impact of extending the Income Tax threshold freeze
A recent report from the Financial Times has indicated that Chancellor Rachel Reeves may extend the freeze on Income Tax thresholds.
What happens if tax reliefs for SMEs and farms are cut in the impending Budget?
It is the world’s worst-kept secret at this point, but if you have not already heard, the Budget is approaching and is likely to be “painful”.
Could the Budget affect dividend tax? A closer look at potential impacts
Dividends have long been an important income stream for investors, business owners, and retirees alike.
How to avoid Lifetime ISA withdrawal penalties from HMRC
Lifetime ISAs (LISAs) have become a popular way to save for a first home or retirement, offering a 25 per cent Government bonus on contributions. However, if you withdraw money for anything other than these specific purposes, you could face…
What pension tax reforms could we see in the October Budget?
For months, there was speculation that the upcoming Budget could bring major changes to pension tax relief, specifically a move towards a flat rate of tax relief for pension contributions. While nothing has yet been confirmed, reports in The Guardian…
What are PAYE Settlement Agreements and how can they benefit employers?
PAYE Settlement Agreements (PSAs) are a convenient tool for employers, allowing them to cover the tax and National Insurance contributions (NICs) on specific benefits provided to employees.
IFRS S1 and S2 and the future of ESG reporting standards
Sustainability has become a core part of how businesses are expected to operate, whether we like it or not. You might think that all the talk about environmental, social, and governance (ESG) issues is only relevant to big corporations or…
How changes in tax receipts and National Insurance may affect you
With tax and National Insurance (NI) receipts making headlines, many people are understandably concerned about what this means for their tax obligations.
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.