We regularly write articles to keep you up to date with changes that affect your growing business.
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HM Revenue & Customs (HMRC) have recently confirmed that businesses that owe less than VAT £20,000 can now set up a payment plan online. The measure, which came into effect on 31 May 2023, is part of a wider project from HMRC to digitise tax reporting and payments, to reduce the number of calls placed
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On 14 May, our team smashed the Dance 100 challenge by dancing their hearts out in aid of our charity of the year Scottish Huntington’s Association (SHA). Not only did the team dance along to an impressive 100 songs back-to-back but we were also the proud sponsors of the event, which brought together more than
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You work hard to make your business successful, so you want to make sure you are retaining as much of your income as possible. But how can you and your business minimise tax liabilities? This new tax year presents a chance to get off on the right foot, by staying up-to-date with the latest changes
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Several significant changes were announced by the Government in the 2023 Spring Budget regarding the annual allowance and the lifetime allowance. These changes affect the amount of tax-free contributions individuals in the UK can make towards their pensions, which may have an impact on their overall pension strategy. Annual allowance The annual allowance is the
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There have been several important tax decisions previously regarding the difference between vans and cars, but how do the different rules regarding electric vans affect their tax treatment? Let’s use a hypothetical: A Ltd has acquired a new electric company van that its director, Bob, uses to go to and from work, as well as
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In the Spring 2023 Budget, the Government laid out plans to shake up the current free childcare system – but many higher earners will be disappointed to find that the changes keep them excluded from the scheme. The existing childcare rules mean that parents are eligible for up to 30 hours of free childcare if
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As an employer, you will likely face the delicate situation of employees asking for pay rises. With the cost-of-living crisis and rise in inflation, these requests will have become more frequent as people look to keep up with spiralling living costs. Each month, the Office for National Statistics (ONS) surveys collect the salaries of 12.8
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The 2020/21 tax year saw 1.4 million people charged interest on overdue tax payments – a 15 per cent increase on pre-pandemic figures. The data was released after a Freedom of Information request by investment platform, AJ Bell, but this did not disclose how much money HM Revenue & Customs (HMRC) raised from these late
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With a growing number of company car owners using electric vehicles, many are deciding or being permitted to use company credit cards to pay for roadside charging. However, what are the implications of this for the employee and business alike? While the answer is fairly technical, the short simple answer is there will be no
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The UK Government has long encouraged businesses to invest in Research & Development (R&D) projects, believing it to be at the forefront of economic growth. R&D tax reliefs are, therefore, lucrative and aimed at both Small and Medium Sized Enterprises (SMEs) and larger organisations. However, before organisations plan to claim R&D tax relief or expenditure
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It is important for employees to feel valued in the workplace. A lot of the time, it is the little things that employers can provide to their staff that have the most substantial impact. One such ‘little thing’ is the concept of trivial benefits in kind. Trivial benefits are best described as small ‘token gifts’
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A range of car financing options are available for individual buyers and businesses alike. These options not only facilitate the acquisition of vehicles for personal use but also provide advantageous solutions for companies in need of a fleet for their employees. Types of car finance Personal Contract Purchase (PCP) PCP is a popular car finance
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