We regularly write articles to keep you up to date with changes that affect your growing business.
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Making employees feel valued is critical for their morale, engagement, and overall well-being. Often, it's the smaller gestures that have the most significant impact on employees' perceptions of their work environment and employers. What are trivial benefits in kind? The term 'trivial benefits in kind' refers to minor token gifts that employers can offer staff
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While the end of 2023 saw inflation slow down, experts have warned that the chances of a recession in the coming months are more likely. A recession, which is usually triggered by an economic decline across two consecutive quarters or more, was last seen in the UK in 2020 during the Covid-19 pandemic. The risk
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HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key area of tax evasion – online traders. Individuals selling on platforms like eBay, Vinted, or Depop must now be vigilant about their sales and income generated from them and what is reported to the tax
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Now that we have entered 2024, our accounting team has been making their predictions and discussing how best to advise our clients on preparing for upcoming challenges. Before we make predictions on SME prospects for 2024, however, let’s look back on last year to provide some context. We feel that UK businesses are still recovering
Advisory Insights
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The 2024 Scottish Budget has introduced notable changes to Income Tax, particularly impacting high earners. The 2024 tax structure will maintain existing rates for incomes below £75,000. However, a new 'advanced tax rate' of 45 per cent will apply to earnings between £75,000 and £125,140. Additionally, incomes exceeding £125,140 will incur a 'Top rate' tax
Advisory Insights
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With the new year right around the corner, you’re bound to have big plans for your business. But success won’t happen overnight, and you need to make sure you have the basics right. Your clients make your business and ultimately, without their custom, your business’ growth plans will fall short. Regardless of your business’ aim,
Advisory Insights
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Hybrid vehicles are becoming an increasingly attractive option for businesses. With changes in company car tax bands and the environmental benefits they offer, hybrids are a step towards sustainability and a smart financial decision. Understanding company car tax Company car tax, or Benefit in Kind (BiK), is a significant factor when considering a hybrid for
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To successfully grow your business, you need to not only know your current business position but also where you want to be in three or five years’ time. Short-term, medium-term, and long-term plans will help to achieve your goals. How do I grow my SME? There are lots of ways you can grow your business,
Advisory Insights
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Recent statistics reveal a significant increase in the amount of annual pension tax relief, exceeding £50 billion for the first time. This marks a £14 billion rise over five years, highlighting the growing importance of understanding these changes and their implications for your business and employees. The substantial increase in pension tax relief In the
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HM Revenue & Customs (HMRC) has recently issued letters to restaurant and takeaway businesses across the country, emphasising the importance of correctly applying VAT on hot food. This move comes amidst potential confusion amongst business owners regarding the varying VAT rates applicable to different types of food items. Understanding VAT on hot and cold takeaway
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In retirement planning, you may encounter a multitude of options and strategies to increase your pot, but some have a catch. However, some prospects are more valuable, and one such opportunity is currently presenting itself to individuals aged 40 to 73 in the United Kingdom. If you fall within this age bracket, it is imperative
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During the 2023 Autumn Statement, Chancellor Jeremy Hunt made a significant announcement about investment zones that could impact numerous businesses across the UK. The four new investment zones in Greater Manchester, West Midlands, East Midlands (England), and Wrexham and Flintshire (Wales) signify a concerted effort to bolster economic development and stimulate business growth alongside the
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