Getting ready for the end of your tax year might appear daunting but don’t dread it, consider embracing it. This is an excellent opportunity to organise your business. This is easier when you have a great relationship with your accountant and you keep good records.
The start of the 2024-25 tax year is almost here. It is important to understand any changes to UK tax rates and allowances because this allows you to make the most of the opportunities available to you. This applies to your business, and for you personally.
Changes to National Insurance contributions (NICs) and tax policies have been announced by the Chancellor. Take a look at the upcoming adjustments, including reductions in NICs rates for employees and the self-employed, changes to Capital Gains Tax rates, the introduction of a new British ISA allowance, updates to VAT registration thresholds, and plans to extend Full Expensing to leased assets. These changes are effective from 6 April 2024 and aim to support individuals and foster investment in promising UK enterprises.
Accountants aren’t just the data analysts you might think they are. Sure, math skills are important, but modern accounting is much more dynamic. Accountancy is problem-solving. Accountancy is detective work. Accountancy is communicating with both your clients and your colleagues. Read on if you are feel a career in accounting or auditing could be for you.
As we near the end of the tax year on 5 April 2024, it’s essential to take stock of your family and business finances. Although tax rates and thresholds remain stagnant, the government’s tax revenue keeps climbing. Nonetheless, there are still plenty of practical ways to manage your affairs tax-efficiently, and we’re here to guide you through some of these strategies.
The Economic Crime and Corporate Transparency Act received Royal Assent in October 2023. It substantially amends the Companies Act 2006 and introduces new requirements for how companies registered in England and Wales interact with, and submit information to, Companies House.
The deadline for submitting your Self Assessment tax returns online for the tax year 22-23 is fast approaching! Tax returns must be filed by 11.59pm on 31 January 2024 and any tax owed from the 2021/22 tax year must also be paid to HM Revenue & Customs (HMRC) by this date – you won’t believe some of the laughable excuses HMRC have received in the past for late submissions
Switching accountants is easy and doesn’t need to cause stress, effort, or disruption to your business. Despite what an accountant may allude to, it can be a simple process. If changing accountants feels like the right move for you, read on
On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. The Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were significant statements relating to National Insurance changes and also the reform of work-related state benefits.
Benefits-in-kind can feel like a minefield for business owners. In this blog we will tell you what you need to know, what you need to do, and show that it is possible to reward your team for doing a brilliant job without being taxed for it!
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