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!
From the 2023/2024 tax year onwards, the self assessment threshold for taxpayers will rise to £150,000 as long as your only income is via PAYE. This means that you only need to submit a self assessment tax return if your income exceeds £150,000 or you receive income from sources. Other sources of income include but are not limited to self employment income over £1000, dividends, high income child benefit, or rental income.
Accountants play a vital role in preventing serious crimes like human trafficking by being watchful and reporting suspicious financial activities. HB Accountants are serious about this responsibility. Strengthening our team and building a vigilant workforce is paramount. Continuous Professional Development (CPD) is a mandatory part of our commitment to professional ethics. We ensure our team stays well-informed by using resources such as the ICAEW‘s AML educational drama, “All Too Familiar.”
Charity trustees, also known as board or committee members, are the people who lead the charity and decide how it is run. Being a trustee means making decisions that will impact people’s lives. You can read more about the work of a trustee here. With over 400,000 charities registered in the UK needing trustees to oversee their work and finances, it really is a great way to ‘give back’ to our communities.
Finance directors of growth businesses, like you, are constantly faced with the challenge of steering the financial ship toward greater prosperity. To help you navigate this dynamic journey, let’s delve into how partnering with the right accountant, can be a game-changer for your role and your business’s success.
There are over 400,000 charities in the UK working hard to benefit different segments of society. You may be aware of a gap in provision and have the passion and drive to start up a new charity. This is what you need to do to establish your charity and the laws that govern charities in the UK.Continue reading
Could you be an HB Accountants’ apprentice? We are a dynamic training firm in Hoddesdon, Hertfordshire. Empowering and inspiring our young talent is at the heart of HB’s ethos. We have developed our Apprenticeship programme and our dedication to fostering exceptional talent and creating a supportive work environment has earned us the prestigious Top 50 SME Apprenticeship Employer statusContinue reading
On 1st April each year, all minimum wage rates are increased. This includes all National Minimum Wages rates and the National Living Wage rate. By law, your employer must pay a minimum amount on average for the hours you work. This is called the:
- National Living Wage (NLW) if you’re aged 23 or over
- National Minimum Wage (NMW) if you’re aged under 23 or an apprentice