Many businesses have vacancies for new staff at the moment but filling the roles is not as straight forward as simply finding a person. Businesses need to employ people with skills: the right skills for a particular industry or business task. Many industries are facing a skills shortage so the spotlight is now on understanding which specific skills local Broxbourne businesses need so that any gaps may be highlighted. This will allow local education organisations to provide the right courses to young people and local residents with the ultimate aim of opening up future employment opportunities.
ACTION STATIONS: What you need to know about Corporation Tax Rises
The UK’s main rate of corporation tax will increase from 19% to 25% with effect from 1 April 2023. Not every company will pay at this rate. A small profits rate of 19% will be introduced for companies with annual chargeable profits of £50,000 or less, with a tapered tax band for those with profits between £50,000 and £250,000.
Check for gaps in your National Insurance record now to avoid pension shortfall
Update: Deadline for voluntary National Insurance contributions extended to April 2025 to check your National Insurance record to enable you to fill in any gaps in your NI contributions. Anyone with a shortfall in their record has until April 2025 to buy back their missed years to qualify for a full state pension
HMRC warning as late payment interest rates set to rise again
When you have a personal tax liability to HMRC, you are required to pay it by the due date specified by HMRC. If you fail to pay your tax liability on time, HMRC will charge you interest on the amount owed until it is paid
Help for Businesses with Paying Energy Bills
Energy costs are a huge concern for many businesses. With further price rises looming, it is a great time for businesses to reassess expenditure, including energy costs, and put mitigations in place to help.
Be Scam Alert: Companies House fake message
A current email purports to be from Companies House. A scam email instructs you to check the information held about your company and says that if you ignore this instruction you may be subject to legal action
Year End Tax Planning Guide – 2022-23
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 readingHMRC announces further delay to Making Tax Digital for Income Tax Self Assessment – MTD for ITSA
Making Tax Digital for Income Tax Self Assessent update: The UK Government has announced that MTD ITSA has been delayed again (was due to come into play 6 April 2024), is now mandated to start from April 2026
Continue readingUpdated Advisory Fuel Rates (AFR) from HMRC
Changes have been made by HMRC to the advisory fuel rates (AFRs) for all journeys on or after 1 December 2022 for company car drivers claiming back fuel costs from their employer
Continue readingJeremy Hunt’s Autumn Statement Deconstructed
UK Chancellor, Jeremy Hunt has delivered his Autumn Statement and stated UK “is now in recession”. The Treasury’s intention is to bring stability, protect growth in the economy and to continue to support public services.
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