Welcome back to the HB Accountants Podcast. After the success of our first episode, we are excited to bring you Episode Two, where we tackle a crucial topic for every business owner – tax planning.
You may wish to change how you pay a director’s salary and dividends due to the changes to Employer’s National Insurance Contributions (NICs) announced in the October budget. NICs are not payable on dividends so despite salaries being tax deductible, the optimum balance between paying a salary and a dividend may have shifted – depending on how many directors are in your business. If you are a director or shareholders of a small, limited company, read on to find out more.
We haven’t gone crazy! The snake is one of the animals in the 12-year cycle of the Chinese zodiac signs. The new Chinese lunar year is the start of the Year of the Snake in 2025 so we thought it would be fun to apply the stated behaviours of someone born in a snake year and think about why a snake would be a great accountant!
While it is incredibly tempting to wind down in the days leading up to Christmas and take it easy between Christmas and the New Year celebrations, it really is the perfect time to ensure that your accounts are in tip top shape.
Advisory fuel rates (AFRs) are recommended reimbursement figures for drivers reclaiming business mileage, usually for those in company vehicles. The advisory fuel rate is updated by HMRC based on fuel prices every quarter, and publish revised figures if required in late February, May, August and November each year
As we leap towards the start of the festive season, with Christmas only a few weeks away (sorry!), we are sure that marketing and people teams are full speed ahead with planning Christmas parties and finding ways to to thank everyone for their hard work and loyalty over the past year. This means it is a great time to revisit HMRC’s guidance around parties and Christmas giving to your team and to your clients.
Finance professionals are not only responsible for financial transactions and reporting, they are directly involved in the operation of their organisations; providing strategic direction and high-level decision making. However, with this expanded responsibility and new technology, there comes new challenges.
It’s a delicate balancing act to keep expenses down whilst still investing in growth and innovation. It is tough but it is possible to reduce costs without impacting growth by identifying and eliminating wasteful spending and ultimately build a lean, efficient business that can weather economic storms and be poised to seize new opportunities. Here are 5 proven cost reduction strategies that can help your business achieve longterm positive results.
On 30th October, Chancellor Rachel Reeves has presented Labour’s first Budget since their election. Understanding how their changes to the UK tax system impacts on your business and personal affairs is paramount. Get budget clarity here.
Most of you know Catherine but say hello anyway especially as she is celebrating a very special personal birthday (not naming any numbers here but read on for some clues!) and as she nears her 21st work birthday.
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