In the Spring Budget on 6th March, one of the headline announcements by Chancellor Jeremy Hunt was a the further reduction to National Insurance. In this ‘Insight’ we take a look at what this means for Employees, Employers and the Self-Employed, with a look at the new National Living Wage…
Are you eligible for a £252 saving on your tax bill? With the tax year ending on 5th April, March is a good month to check whether sharing unused tax allowances with your partner could save you some money. HMRC says that March is the most popular month for Marriage…
In an announcement made on 19th February, the Government confirmed that twin-cab pickup vehicles with payloads of 1 tonne or more will continue to be treated as goods vehicles for both capital allowances and benefit-in-kind purposes. On 12th February, HM Revenue & Customs (HMRC) had updated its guidance on the…
In this ‘Insight’ we take a look at changes to the National Living Wage and National Insurance that come into effect in 2024. Are you getting National Living Wage payments right? Recently, the Government named and shamed 524 businesses for failing to pay the minimum wage to their staff. These…
Exploring the tax implications of trading as a Sole Trader against registering as a Limited Company When starting a business, or indeed as an established business, choosing the most suitable legal structure for your business is an important thing to consider. Two popular options are operating as a sole trader…
Companies House have reviewed the fees they charge and have released details of the new charges that will apply from 1st May 2024. Companies House work on a cost recovery basis, so the fees are set to cover their costs rather than to make a profit. Due to the measures…
In our ‘Insight’ on 16th February, we highlighted some advice from HMRC and the National Cyber Security Centre on Tax Scams and using online services. This week, we look into their warnings regarding tax refund scams and the use of QR Codes to phish for business information. HMRC warns about…
Some self-catering holiday let owners are being asked to provide trade information The Valuation Office Agency (VOA) is contacting the owners of some self-catering holiday lets. The lets in question are ones that are currently being assessed for business rates. The VOA are looking for additional information about the income…
With the rise in scams hot in the news recently, we take a look at guidance from HMRC and the National Cyber Security Centre on what to look out for to help protect yourself and your business from scammers. How to recognise tax scam phone calls, emails and text messages…
Maximising benefits for your business We are now within the final two months of the tax year, and for many businesses, the end of the tax year is also the end of the business’s financial year. This can be a good time to review your business tax planning to ensure…