Latest Thinking

The government Valuation Office Agency have issued the following warning to business owners who may have received unprompted approaches by an agent offering to negotiate a reduction in their business...

An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the...

There are a multitude of rules and regulations that you must be aware of when you start employing staff for the first time. HMRC’s guidance sets out some important issues...

HMRC’s has awarded twelve voluntary and community sector organisations a share of £5.5 million in funding to help customers with their tax affairs. The £5.5 million funding pot applies over...

HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes some...

HMRC’s self-assessment (SA) helpline will focus on priority queries from 11 December until 31 January. Whilst the helpline is focusing on priority calls in the run-up to the filing deadline,...

As Christmas arrives the week before the calendar year-end, many of us will enjoy a week’s shut down and have time to relax and enjoy the break with our family...

There are two ways to consider the effects or benefits of business and personal expenditure. The payment of rates or utility costs are an essential part of our daily expenditure,...

1 January 2024 – Due date for Corporation Tax due for the year ended 31 March 2023. 19 January 2024 – PAYE and NIC deductions due for month ended 5...

If you are having trouble paying your tax on time you may be eligible to receive support from HMRC by applying for an instalment payment plan. An online payment plan...

A reminder that the main rate of Class 1 Employee National Insurance contributions (NIC) will be reduced from 6 January 2024. This change will see Class 1 NICs reduced by...

There are special rules for the provision of living accommodation for employees. In most cases, employees will pay tax on any living accommodation provided by an employer unless they qualify...

The annual exempt amount applicable to Capital Gains Tax (CGT) is to be halved from April 2024. This means that the exempt amount will be reduced from £6,000 currently, to...

When a new employee is added to the payroll it is the employer’s responsibility to ensure they meet the employee’s rights and deduct the correct amount of tax from their...

If you are concerned that an organisation is holding personal information you have a legal right to ask for a copy of the information that they hold about you. If...

Homes and businesses will be able to install rooftop solar panels more easily, under new rules that were recently announced. Changes to permitted development rights rules will mean more homeowners...

The normal filing deadline for filing the accounts of a private limited company is nine months after the company’s financial year end. Known as the accounting reference date. For example,...

The Help to Save scheme is intended to help those on low incomes to boost their savings. Eligible users of the scheme can save between £1 and £50 every calendar...

Employees who working from home may be able to claim tax relief for some of the bills they pay that are related to your work. Employers may reimburse employees for...

The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in...

Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced in 2003 to keep retired people out of...

The government published the Autumn Finance Bill 2023 on 29 November 2023. The Bill is officially known as Finance Bill 2023-24. The Bill contains the legislation for many of the...

It’s the directors’ responsibility to file their company’s accounts, and make sure they’re filed on time. It’s important to understand your role and how late filing could affect your company....

Most dictionaries define “bottom line” as “the most important thing to consider”. In financial circles it’s taken to mean a focus on profitability (the last line on a P&L accounts)...

The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023. A Small Profits Rate (SPR) of 19% was also introduced...

In some respects, the Chancellor’s predicament is deserving of a sympathetic ear; its as if he has a long journey ahead but has one foot firmly nailed to the floor....

The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023. The new Act provides Companies House with more power to reduce the abuse of corporate structures...

In the Autumn Statement it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will be merged from April 2024. It was also confirmed that...

In the recent Autumn Statement, the Chancellor announced two important changes to National Insurance contributions (NIC) for the self-employed. The first change concerns the removal of Class 2 NICs for...

In the recent Autumn Statement, the Chancellor announced a significant change to National Insurance contributions (NIC) for employees. There will be a cut in the main rate of Employee National...