Tax

Business rates can be a major overhead when you’re running a shop or hospitality business. But the good news is that your business may be eligible for relief on these rates. Retail, hospitality and leisure relief is available for eligible businesses that meet the criteria. And if that’s you, you could be looking at a 75% cut to...

Here’s your breakdown of the major business announcements from the Autumn Statement 2024. A budget to fix the foundations of the economy Rachel Reeves, the Chancellor of the Exchequer, delivered the Autumn Statement on 30 October 2024, saying that this was a budget intended to fix the foundations of the economy, deliver change for working people, mend the...

Keeping up to date with HMRC’s Making Tax Digital initiative is important, whatever size business you run and however you currently record, submit and pay your business taxes. Let’s take a quick look at the goals of Making Tax Digital (MTD), which requirements are currently mandatory and which elements are likely to change in the near future. What...

If you’re domiciled outside of the UK for tax, you’ll need to get yourself up to speed on the recent announcement from the new Labour government regarding ‘non-dom’ status. As the recent policy note from HM Treasury outlines, ‘the government is committed to addressing unfairness in the tax system, so that everyone who is long-term resident in the...

Contracting or freelancing requires you to wear a lot of hats. Relationship-building, keeping track of your time, marketing your skills and actually doing the work. But one of your priorities should also be establishing how you handle your money and setting the groundwork for good habits. Understand your deductions Before you start, it’s essential to understand what expenses...

The days of deciding on a tax strategy at the start of the year and then forgetting about it are gone. As taxpayers and tax advisers, we both have to be nimble, flexible and aware of changes. That’s why regular tax-planning sessions are so important. Is your business meeting the right tax compliance goals? Are there tax changes...

The Chancellor, Jeremy Hunt, delivered his second Spring Budget on 6 March 2024. This Budget aimed to appeal to the taxpaying masses, with cuts to National Insurance and a rise to the threshold for VAT registration. But was it too little, too late for the UK economy? We’ve summarised the main points, so you can see how the...

Your tax liabilities don’t end when you pass away. That’s why getting your tax affairs in order prior to death is so helpful for those you leave behind. Here’s what you need to know. #tax #accounting #tax #taxplanning If you’ve always thought that your tax affairs end once you die, then think again. The truth is that the...

Are you aware of the personal taxes you’re liable for as a company director? We’ve got the lowdown on self-assessment and capital gains tax – and can help you plan your wealth management as a director. #directors #tax When you set up a new company, there are certain business taxes you’ll be liable for as a business. But...

The OECD recently released its latest Taxing Wages 2022 report, and it’s interesting to see where the UK falls compared to other developed nations when it comes to tax. One of the purposes of this particular paper was to look at the impact of Covid-19 on how workers were taxed across 38 different nations – and it makes...