HB Accountants has created a clear, impartial summary of the main tax policies proposed by major parties for the 2024 general election. This guide highlights the key tax changes each party plans, helping you understand the potential impact on businesses and individuals
In an update for businesses and employees alike, HMRC has revised the advisory fuel rates (AFRs) for company car drivers. These changes, effective from 1st June 2024, will impact all journeys where employees claim back fuel costs from their employer. It is essential for companies to stay informed about these updates to ensure compliance and accurate reimbursement processes.
Following the recent update to the Economic Crime and Corporate Transparency Bill, scammers have been targeting business owners with fake letters and emails claiming to be from Companies House. Letters request a £48 payment to set up enhanced web filing on the Companies House register. This is a scam.
If you are a charity, it is important to be aware that nearly all the provisions of the Charities Act 2022 are now in force as another tranche of rules came into force on 7th March, 2024.
The current economic outlook is to say the least, uncertain. Economic questions cloud the future. Interest rates, inflation, and the ongoing implications of Brexit have an impact. As does the consequences of global warming and the conflict in Europe and further afield. Forthcoming elections both here and abroad also make it harder to understand a business’ viability trading forward.
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.
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