Setting up a business is both exciting and worrying. There’s so much to do and the topic of tax deductible expenses for business might not even be on the radar! However, no doubt you want to optimise your tax position whilst making sure you stay on the right side of HM Revenue and Customs (HMRC). […]
Category Archives: Business Tips
29
May
May
The Prime Minister, Rishi Sunak, called a general election last week, scheduled for July 4, 2024. This will mark the first July election since 1945. There is only a six-week campaign period. As a result, there will be no pre-election fiscal statement. Instead, the government is relying on the drop in inflation to 2.3% and […]
08
May
May
According to the Office of National Statistics. (ONS) in early April 2024, one in five (22%) of trading businesses were affected by current uncertainty. Long-term growth also remains a huge concern. This is therefore a good time to remind you to look out for warning signs of insolvency. Common warning signs could signal financial and […]
17
Apr
Apr
Last October, the Economic Crime and Corporate Transparency Act 2023 (ECCTA) was introduced to tackle fraud and economic crime in the UK. One of its key objectives is to improve the quality of data held at Companies House. As a result, on 4th March 2024 changes at the Companies House came into being. Overview […]
06
Mar
Mar
Earlier today, Chancellor Jeremy Hunt delivered the Spring Budget, which probably marks his final budget in the current sitting of parliament. The Chancellor began by stating that the economy is now starting to improve. The Office of Budget Responsibility (OBR) is forecasting inflation to reach 2% in the next few months, and growth in 2024 […]
14
Feb
Feb
The property market for landlords has been experiencing a lot of changes in recent months. After the interest rate hikes, many landlords have been questioning whether it is still profitable to continue being a landlord. They are curious to know if the business of being a landlord is still worthwhile. Why is it difficult […]
24
Jan
Jan
The government has decided to undo the changes made to holiday pay calculations after the Harper Trust v. Mrs Brazel case in July 2022. In 2022 the Supreme Court ruled that the old 12.07% calculation, which had been in use for years, was no longer relevant. Due to these changes in holiday pay regulations for […]
Business Tips, Employee Benefits, Personal Tax, Tax Tips
Salary Sacrifice Scheme and the Electric Car
17
Jan
Jan
Salary sacrifice has been around for a while now. But in recent times it has become a popular topic again. For two reasons, first employers want to offer a competitive package to help with staff retention. Second, money is tight for everyone, and a salary sacrifice scheme offers tax savings. Tax savings for both the […]
10
Jan
Jan
Happy New Year and welcome to the first blog of 2024. We hope you had a good rest and break during the festive season and enjoyed some quality time with friends and family. Many of you will now be looking at starting the New Year off right. For this reason, January is a popular time […]
06
Dec
Dec
Many small businesses may have lost track of MTD, which has been introduced five times already. What did the Autumn Statement 2023 say about MTD? The Autumn Statement 2023 included the outcome of the Making Tax Digital Small Business Review. The review focused on whether and how small businesses should be brought into MTD. So, […]