We regularly write articles to keep you up to date with changes that affect your growing business.
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There has been a fall in investment of around 12 per cent in the Enterprise Investment Scheme (EIS), largely caused by the effects of the pandemic. But that figure was slightly offset by a surge in the sister programme, the Seed Enterprise Investment Scheme (SEIS), which showed an increase of four per cent. According to
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From 1 September, changes to the rules regarding the Trust Registration Service (TRS) mean that more trusts will need to be registered with HM Revenue & Customs. The TRS was introduced five years ago to make the beneficial ownership of assets held in trust more transparent. While many trusts have had to sign up for
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HM Revenue & Customs (HMRC) is issuing fresh warnings to employers to ensure their payment reference numbers are correct so that payments are recognised. Each payment reference number relates to a specific employer and covers a particular accounting period. HMRC uses these reference numbers to allocate payments and to help process taxes related to PAYE
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There has been a surge in new company formations in the last few years, as entrepreneurs develop new and exciting business ideas and bring them to market. On top of this, there are a growing number of workers with ‘side hustles’, who are quickly scaling up their operations to deal with demand from their customers
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When HM Revenue & Customs’ (HMRC’s) current guidance on the tax treatment of tips and troncs was first published back in 2014, tips and troncs were paid almost exclusively in cash or through card transactions. Of course, in the eight years since, things have changed dramatically and payments are frequently made via app-based platforms, whether
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HM Revenue & Customs (HMRC) has retained its online portal for claiming working from home tax relief for the 2022/23 tax year. But, while the rules and value of the relief remain unchanged, unless there are any further lockdowns this year far fewer people are likely to be able to claim. That is because only
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Without being motivated by business goals, it could be easy for the business to become stagnant. However, simply outlining business goals is not going to instantly ensure the success of your business – it is essential to have a strategy in place. For this reason, we have outlined our top tips for staying on track
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When it comes to purchasing and expensing a garden office, you may be wondering if your company can cover the costs. Whilst this is possible, there are the following caveats and issues to contend with that you should keep in mind. Capital Allowance If your business builds an office in a residential
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Many parents have been missing out on Tax-Free Childcare, after it was revealed that one in five parents did not know they met the eligibility criteria. The Government has launched a push on the allowance, a scheme in which parents can claim up to £500 every three months, and says claiming it will help ease
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A growing number of UK firms are at risk of going under due to soaring costs and the need to repay covid loans. The stark warning has been reported by the BBC, following recent research, which found that in the first three months of 2022 there was a 19 per cent rise in the number
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One of the key things that small and medium sized businesses (SMEs) need to get right is payroll. Not only is it a legal requirement to maintain the relevant documents and pay the correct amount of tax, getting prepared can help to reassure your employees that the business is trustworthy. Step 1: What do you
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With the arrival of April’s payslips in people’s pockets, the recent rise in National Insurance will be clear to see. As of this month, individuals and businesses will pay an extra 1.25p in the pound. The Government says the increase will help fund the health and social care system. Alongside this, prices and inflation are
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