HMRC Advisory Fuel Rates (AFRs) from 1st December 2024

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

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Accounting for Christmas

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.

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Solving a Finance Director’s Worst Nightmares: Strategies to mitigate or prevent them from occurring

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.

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5 cost reduction strategies that do not sacrifice growth

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.

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Budget Breakdown: Insights for Self-Employed, Companies, and Everyday Earners

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.

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Meet HB Accountants’ Director Catherine Hill: and wish her a happy birthday!

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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5 Common Tax Mistakes Small Businesses Make (And How to Avoid Them)

We have taken a look at the top common tax mistakes made by small businesses. The HB team works with all our clients to ensure that they remain compliant with tax and filing regulations and we are definitely not saying that all small businesses make these errors. However, it’s always worth reminding ourselves what needs to be done and our top tips to avoid making tax mistakes. Here they are, in no particular order:

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Navigating IR35 Rules: A Guide for Businesses

The IR35 off-payroll working rules have seen significant changes in recent years. Historically, this has impacted public companies but since 2021, this is also an issue for all businesses. This is a brief overview of the current IR35 situation and how it may impact your business if you employ contractors.

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