Your personal affairs, your family and business affairs, and your plans for the long term, need to be arranged as tax efficiently as possible. The period before the end of the tax year, on 5 April 2023, is the BEST time to do this. Make sure to check out our year end-tax planning guide 2022-23 – a must read, right now, to maximise the opportunities available
Continue readingCategory Archives: Annual Accounts
Jeremy Hunt’s Budget U Turn Update
Liz Truss’ economic agenda has been deconstructed by new chancellor Jeremy Hunt in a bid to bring stability to the financial markets following the market’s reaction caused by the Mini-Budget. Here is our outline of the current position
Continue readingThe Kickstart Scheme Delivery Suprising Bonus for HB Accountants
The ICAEW are highlighting the work HB Accountants in Hoddesdon, Hertfordshire are doing to address diversity within the profession, their apprenticeship program and their Kickstart experience – read more here
Continue readingSpring Statement 2022
Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23rd March 2022 – find out what that means to you and your business here in our HB Accountants Spring Statement 2022 highlights
Continue readingJohn Neighbour is retiring after 45 years with HB Accountants
A letter from our former Tax Director, now Tax Consultant,
Mr John Neighbour
I joined HB in September 1976 from Thomson McLintock (now part of KPMG) in order to set up a tax department. At that time, we were based in London at Coventry House near Liverpool Street Station. 45 years & 4 office moves later, we are now based at Plumpton House in Hoddesdon. Over the past few years, I have been winding down my time commitments & at present I am typically working about two days per week. At the same time my tax manager, Amy Thompson, has been taking on more responsibility.
Continue readingWhy is effective credit control so critical for your business?
Effective credit control is fundamental to ensuring a business has a regular flow of cash. Securing a good cash flow is one of the most important aspects of running a business in order to enable sustainable growth or to support a fight for survival. As we emerge from a pattern of lockdowns and openings, it’s never been more important to ensure your business is in the strongest financial position possible.
Continue readingCan Directors borrow money from their business?
If you’re a director of a limited company, can you borrow money from your company? The simple answer is yes, however, there are a number of things to consider before doing so, in particular, tax implications and pressures on cash flow.
Continue readingCorporation Tax Changes Explained
Corporation tax is a huge source of revenue for the Government. Collected by the Government from the profits of companies operating in the UK and it is changing. (The profits of unincorporated businesses, sole traders and partnerships are subject to income tax as opposed to corporation tax)
Continue readingMeet Karen – Director, Analytical Auditor and Charity Fundraiser
Karen Chase officially joined HB Accountants back in 1998. It was the year when Buffy the Vampire Slayer was all the rage, Titanic won 11 Oscars and a furby was the toy of choice! Karen had already gained an Accountancy and Finance degree but was unsure where she wanted to work – many accountancy firms seemed grey and impersonal. She was attracted to HB because many of our 10-strong audit team were of a similar age and Karen could see that there was both the opportunity to learn more about auditing as well as enjoy a social life.
Continue readingCOVID support schemes are ending, find out what is continuing
The SEISS fifth grant period ends today as does the furlough scheme, with employers having until 14 October to submit a claim for the latter – as does the VAT reduction for hospitality and tourism to 5%, which will see an increase to 12.5
The ICAEW have issued a handy timeline for the remaining schemes.
Two forms of data are shown in the chart: how much money has been spent or lent on each scheme so far, and each scheme’s end date.
The chart does not include all of the support measures provided by the government or the Bank of England to businesses and individuals, for example the £20 a week uplift in universal credit to those on low incomes that also comes to an end on 30 September or the corporate finance lending facilities provided by the Bank of England to very large businesses.
Continue reading