Understanding whether a business is profitable or not is fundamental to the success of the business. If you are a business owner, you need to know what to do to maximise your profits or whether there are areas that need more attention. This is why regularly creatin and understanding your Profit and Loss (P&L) is so important.
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.
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.
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 readingThere is a new digital platform available now on GOV.UK that is revolutionising the way businesses can search for and apply for government grants.
With the growing popularity of cryptocurrencies, some businesses have started to accept crypto payments. Accepting crypto works well for some companies but how do you decide if it is right for your business? This blog will share some information that may help you to decide, although we always recommend taking professional advice before you adopt it as a new payment method.
You are self employed or maybe you are a new start up. You know that you can claim some business expenses but which ones are allowed and which ones are not? This article will help you.
As a business owner, it’s important to manage your cash flow and stay on top of your tax obligations. This can be either overwhelming or time consuming (or both!) so having a reliable accountant on hand to manage your business finances makes sense. But when you engage a fantastic accountant – you will soon discover that they not only keep your finances on track, they offer so much more.
UK Chancellor Jeremy Hunt gave his Spring Budget yesterday telling MPs “the OBR is now forecasting that there will be no recession”. Worth noting, no extension was given to the super deduction tax which WILL now end 31 March ’23 and the planned Corporation Tax rate increase IS going ahead from April ’23
With the enhanced ‘super deduction’ capital allowance coming to an end, it may be worth making a capital purchase or entering into a contract for such a purchase, over the next few weeks. This needs to be weighed up against commercial need and consideration of the impending corporation tax rises. Here’s what you need to consider
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