We regularly write articles to keep you up to date with changes that affect your growing business.
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Business Advice
When it comes to running a business, you must keep up with the ever-changing industry you are a part of. It is important to be aware of any allowances you are missing out on, so that your company can reap the benefits. So, what support is on offer? Capital Allowances Capital allowances can lessen the
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Blogs
Are you aware of the change to filing accounts at Companies House? If not, there are penalties for mistakes, so it is important to ensure that you are up to date with the latest information on these changes. What is changing? Under the Economic Crime and Corporate Transparency Bill (the Bill) the Government is bringing
Accounting
Blog
Letters have been sent out to individuals listed as ‘Persons of Significant Control’ (PSC), urging them to check and, where necessary, correct their tax returns. HM Revenue & Customs (HMRC) Wealthy External Forum has been posting the ‘One To Many’ letters to PSCs listed at Companies House. A PSC is someone who owns or controls
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Latest News
Capital Gains Tax (CGT) is a tax applied on the profit you receive when disposing of an asset. You are not taxed on the amount of money you receive, but on the gain you make. For example, if you bought something for £10,000 and sold it for £20,000, you’ve made a gain of £10,000, and
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Business Blog
HMRC is launching a new penalty regime where VAT returns are submitted late or VAT is not paid on time. As of 1 January 2023, these penalties will apply to anyone obliged to regularly record and report VAT information. This change reflects the new system for reporting and recording VAT, introduced under Making Tax Digital
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Business
Under the Construction Industry Scheme (CIS), contractors take money from a subcontractor's payments and send it to HM Revenue and Customs (HMRC). Are you up to speed with everything you need to know? Some key terms include: Construction operations These are the services the scheme relates to, such as work to permanent or temporary buildings, structures,
Latest News
The season of goodwill is just around the corner as Christmas approaches. It is a time of year when employers look to reward their staff for their efforts throughout the year. But they should be aware that certain tax, National Insurance and reporting obligations could apply. We want to ensure that you enjoy the festive
Latest News
Inflation has been described as paying £15 for the £10 haircut you used to get for £5 when you had hair. It is soaring at the moment and leaves business owners facing real problems. If they increase their prices, they risk losing customers, but if they peg prices, they put their profits and potentially their
Latest News
The status of IR35 or off-payroll working has caused some confusion since the repeals to reforms put forward by former Chancellor Kwasi Kwarteng were subsequently scrapped by new Chancellor Jeremy Hunt. IR35 is tax legislation designed to deal with a form of tax avoidance known as disguised remuneration, where individuals attempt to avoid paying the
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Card payments rocketed during the pandemic and that trend has continued since then. According to figures from the British Retail Consortium (BRC), card payments account for four out of every five payments made. But as consumers switch, the soaring cost of accepting card payments is hitting retailers and adding to the cost of doing business.
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Investing in property can still provide a strong return, but it needs careful planning to achieve the best outcomes. Just buying new properties without a clear strategy would be risky. While it is true that rates of interest continue to increase, as do many of the costs associated with being a landlord, with the correct
Latest News
If you are an owner of a limited company, taking money out of your business using dividends is a mainstay of effective tax planning, thanks to an additional £2,000 annual allowance and lower rates than apply when taking money in the form of salary. However, there are restrictions on the circumstances in which a limited
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