If you are looking to plan your exit from your business, whether for retirement or to start your next venture,…

Claiming allowable expenses when calculating taxable profit as a self-employed business owner is an important step in preparing your tax…

Sometimes, paying your tax bill on time can be difficult when costs are high. If you miss a payment deadline…

Directors have the ability to draw income from a business in several ways, including through the extraction of profits from…

If you are a sole trader or small business owner using a double cab pickup (DCPU) for your work, now…

With Christmas right around the corner, many of you might be looking into ways to spread the holiday cheer among…

Capital Gains Tax (CGT) was a significant target for the Chancellor in the Autumn Budget – with an immediate rise…

In Chancellor Rachel Reeves’ 2024 Autumn Budget, she announced over £40 billion of tax increases, as the Government attempts to…

As we approach the end of the year, one trend has become increasingly concerning for UK businesses – debts are…

Recent research by Three Business indicates that tech-enabled SMEs could add an impressive £79 billion to the UK economy over…

In this year’s Autumn Budget, Chancellor Rachel Reeves announced that the majority of unspent pension funds will form part of…

The Government estimates that new obligations placed on employers under the Employment Rights Bill could result in substantial compliance costs…

A new Government, a new Chancellor and a new approach to the UK’s fiscal policies. Rachel Reeves entered her first…

As the Government seeks to plug certain gaps in the public purse, we are unlikely to see any change in…

For business owners and directors, dividends may form a critical element of your salary strategy and tax planning, keeping your…

As the Autumn Budget approaches, the Government has pledged that it will “make the tax system fairer” and avoid raising…

Taxpayers have a fundamental right to reclaim input tax, also referred to as input VAT. However, HMRC has the authority…

Capital allowances are a great way to reduce your tax liabilities by claiming deductions on certain property-related expenses. They allow…

Labour’s Autumn Budget is just around the corner (30 October) and many businesses are uncertain of what the next few…

Labour shortages, particularly in the hospitality sector, are creating significant challenges for many businesses this year. Managing your costs while…

When you’re self-employed, keeping track of essential dates and deadlines can be challenging. One crucial date to remember is 5…

The furnished holiday lettings (FHL) tax regime is set to be scrapped from April 2025, with draft legislation already on…

While we’ve made meaningful progress in the global energy transition, the pace is still too slow. The charity Accounting for…

Your environmental, social and governance (ESG) strategy might just pave the way to growth for your business. ESG initiatives are…

Having the right team that aligns with your goals and values is key to the success of your business. However,…

HMRC has begun to issue ‘nudge letters’ to cryptoasset owners who may have underpaid tax when selling their assets, urging…

The issue of late payments has become a growing concern for small businesses. Recent data from Xero Small Business Insights…

Recently, there has been a significant increase in company closures due to petitions from creditors, particularly HM Revenue & Customs…

Recently, many pensioners received surprising news: a tax bill for the first time. This stems from HM Revenue & Customs…

In a bid to ease the regulatory burden on businesses, new thresholds for classifying company sizes have been announced. This…

The first Budget of the new Labour Government has been announced to take place on 30 October 2024. Ahead of…

King Charles delivered his speech to Parliament last month following the election, setting out the priorities of the new Labour…

In recent reports, former Prime Minister Sir Tony Blair has forecasted potential tax increases that could have an impact on businesses across the UK.

When developing your business exit and succession strategy, you must consider all possible avenues, including those which might not seem…

Whether the hot weather lasts or not, summer is here to stay, bringing with it seasonal challenges and opportunities for…

HM Treasury has taken £77.2 billion in Income Tax and National Insurance (NI) since April 2024 – signalling the effect…

Invoice fraud, affecting one in three companies, involves deceptive practices that trick businesses into making payments to fraudulent accounts. As…

The new UK Government has been formed. Despite the Labour Party’s campaign and pledges around keeping tax rises to a…

Private equity investment has been a significant force in the financial world for some time. However, the nature of private…

Deepfake technology has made significant advancements thanks to the progress in artificial intelligence (AI), enabling scammers to replicate a person’s…

HM Revenue & Customs (HMRC) has issued its updated guidance on salaried members in limited liability partnerships (LLPs), in relation…

The Consultative Committee of Accountancy Bodies (CCAB) has released the 2024 edition of its Statement of Recommended Practice Accounting (SORP)…

HM Revenue & Customs (HMRC) has warned that a new wave of fraudulent text messages is targeting taxpayers using iPhones,…

As of 1st May 2024, Companies House has implemented revised fees, marking a significant change in the cost structure for…

HM Revenue & Customs (HMRC) has recently announced new Advisory Fuel Rates (AFRs) that will take effect from 1 June…

We often find that clients begin to show signs of stress when the Self-Assessment tax return deadline approaches. This is…

The Government continues to freeze both the personal allowance and the higher-rate income tax thresholds – leading to an increase…

Child benefit supports parents or guardians of children under 16, or under 20 if in approved education, by contributing towards…

With the 6 July deadline nearing, it is essential to understand the updated reporting requirements for Class 1 National Insurance…

In its latest research into the UK’s SME economy, NatWest Group has identified an encouraging trend among the country’s independent…

If you are a Self-Assessment taxpayer, it is almost time to make your second ‘payment on account’ – advance payments…

The Department of Business & Trade (DBT) has released the finalised draft of the Code of Practice on Fair &…

There is an inherent degree of risk in any business growth strategy – but keeping this risk to a minimum…

A survey by the Bank of England (BoE) and the Department of Business and Trade has identified a potentially significant…

New research by Marktlink suggests that around 33 per cent of UK business owners are unaware of the value of…

HM Revenue & Customs (HMRC) recently reported a £2 billion increase in income tax receipts, reflecting a strong self-assessment period…

From 6 April 2024, UK redundancy rules will change, particularly surrounding pregnant employees and those on family-related leave. The new…

With the start of the new tax year, taxpayers can expect significant changes that will directly impact their finances in…

The introduction of Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is going to create some upheaval within…

In a significant development for the hospitality industry, the Employment (Allocation of Tips) Act 2023 (the Act), which received Royal…

The initial provisions of the Economic Crime and Corporate Transparency Act 2023 came into effect on 4 March 2024. These…

If you are a business owner and work or run your business from home, then you may be entitled to…

Following changes to the Working Time Regulations 1998 in January 2024, further amendments are set to come into force on…

You may have already heard that the Chancellor, Jeremy Hunt, has announced an end to the preferential tax treatment that…

The Chancellor delivered his 2024 ‘Budget for long-term growth’ in the face of an upcoming general election. Although the headlines…

The latest Budget was an important speech for the Chancellor, Jeremy Hunt, and his Government, as he laid out key…

For both limited companies and unincorporated businesses, managing Value Added Tax (VAT) can be a significant challenge, affecting a broad…

HMRC surprised all taxpayers who own a double cab pickup as a company vehicle on 12 February by announcing that…

There is a series of impending changes to UK company law as a result of the enactment of the Economic…

Starting in April 2026, UK employers will have to include the benefits they give to their employees, like company cars…

The Government plans to introduce new legislation to help parents who earn more money than others with their future pensions.…

HM Revenue & Customs (HMRC) has made a significant change to the way that some taxpayers access its alternative dispute…

Businesses may be able to reclaim significant amounts of National Insurance Contributions (NICs) and plan for future savings because of…

Are you a sole trader or a member of a partnership? Here is what you need to know about the…

Working remotely has increased since the Covid pandemic, with 12.7 per cent of employees now working full-time from home in…

In the current climate of rising inflation rates, many savers are seeing significant returns on their savings and investments. However,…

The Bank of England’s decision to raise interest rates in the first half of 2023 might not have been well-received…

Recent developments in the Self-Assessment tax return criteria have brought significant changes that everyone who files an Income Tax Self-Assessment…

Similar to many sectors that value innovation and staying up to date, the landscape of tax compliance has seen a…

With the rapid growth of the cryptocurrency and crypto asset sector, traditional tax reporting and enforcement have been struggling to…

Understanding and managing Value Added Tax (VAT) is crucial for businesses that operate internationally – increasingly common in today’s business…

These are critical questions for business owners and individuals with high-value assets to understand to maximise tax reliefs and avoid…

HM Revenue & Customs (HMRC) have been awarded new powers by the Government in a bid to cut off a…

Recent changes in National Insurance Contributions (NICs) have significant implications for self-employed individuals. Any self-employed person must understand what their…

Individual Savings Accounts (ISAs) are a popular method of personal financial planning, offering a tax-efficient way to save and invest…

As a small business owner, embracing environmentally friendly practices not only supports a sustainable planet but can also unlock significant…

In 2024, small and medium-sized enterprises (SMEs) will face a brand-new set of challenges and opportunities. As the economy continues…

Despite many owners’ fears, insolvency is avoidable through well-thought-out financial strategies and careful planning. There are several practical strategies for…

For limited companies registered and operating in the UK, one of the requirements that directors must meet is filing annual…

As the crypto asset sector grows, with an annual growth rate predicted to reach around 12 per cent, taxpayers with…

Making employees feel valued is critical for their morale, engagement, and overall well-being. Often, it’s the smaller gestures that have…

In the world of business, cash flow is king and, for small business owners, it is a lifeline that keeps…

During the 2023 Autumn Statement, Chancellor Jeremy Hunt made a significant announcement about investment zones that could impact numerous businesses…

Alongside measures designed to support growing businesses and workers, the Chancellor’s 2023 Autumn Statement saw the publication of the Future…

In retirement planning, you may encounter a multitude of options and strategies to increase your pot, but some have a…

Designed to reduce the tax gap and simplify tax management for individuals and businesses, the Government’s Tax Administration Strategy is…

Chancellor Jeremy Hunt has announced a number of reforms to policies concerning businesses and innovation, in a bid to enhance…

Based in Bradford, John Kinsella, Tax Director at Watson Buckle Chartered Accountancy firm says that small and medium-sized enterprises (SMEs)…

With a General Election looming on the horizon, Jeremy Hunt rose to deliver his second Autumn Statement as Chancellor in…

When making the decision to become a freelancer, you have two options. You can either set up as a sole…

The recent survey by the British Chambers of Commerce (BCC) reveals a concerning lack of preparedness among UK small and…

The recent update to HM Revenue & Customs’ (HMRC) Employment Income Manual is a significant development for businesses and employees…

Inheritance tax (IHT) can be a sore subject for some taxpayers, especially when it comes to passing on the family…

Recent years have held a lot of uncertainty for small and medium-sized enterprises (SMEs) and independent businesses. While there are…

Financial initiatives to support business growth are continually being announced by the Government, local authorities, individuals and private-sector companies. Funding…

Making sure you’re paying the right amount of tax can be taxing! If you receive a State Pension or other…

New research from the #SBS State of the Nation Roundtable report has revealed that 72 per cent of small and…

HM Revenue & Customs (HMRC) has recently launched a consultation on new rules aimed at simplifying the reporting of salary…

HM Revenue and Customs (HMRC) has recently reported a significant increase in Corporation Tax receipts for 2022/23. The receipts have…

HM Revenue & Customs (HMRC) has continued to run campaigns to ensure that overseas workers, registered in the UK, are…

Businesses are holding their breath as the upcoming Autumn Statement threatens to change the tax landscape of the UK. Chancellor…

Research and development (R&D) tax relief claims are a vital way to offset your business costs against profits and promote…

In a world where technological advancements are reshaping industries, small and medium-sized enterprises (SMEs) cannot afford to be left behind.…

You must file your company accounts, to avoid late filing penalties, Companies House is warning. All companies must file annual…

After the fourteenth consecutive increase in interest rates since 2021, many business owners will be asking themselves the same thing:…

Stagnation is a prolonged period of little or no growth in the economy and it can have a serious impact…

If your company is involved in the creative industry, then it could be eligible for significant tax relief from the…

As experts in the field of accountancy, we understand the unique challenges business owners face when it comes to payroll.…

As of 8 August 2023, all Research and Development (R&D) Tax Credit claims require the submission of an online Additional…

In the second quarter of 2023, overpayments on pension tax in the UK reached £56 million. This was an increase…

Introduced in 2014, Employee Ownership Trusts (EOTs) provide an attractive alternative to traditional business succession strategies, offering a series of…

Accountants are often seen as guardians of tax and compliance. However, their expertise extends far beyond these areas. They can…

The High-Income Child Benefit Charge (HICBC) is a tax that affects households where at least one person with parental responsibility…

The Government recently named over 200 companies for failing to pay the national minimum wage (NMW). The list includes firms…

In times of economic uncertainty, businesses should have a clear plan to ensure that they can navigate any potential financial…

The tax gap in the UK – the difference between the amount of tax owed and the amount that has…

The number of individuals participating in the UK’s ‘hidden economy’ is increasing according to recent research. A surge in additional…

New research from wealth management firm Evelyn Partners has revealed that the majority of business owners with companies that earn…

Small and medium-sized businesses (SMEs) have struggled to access finance from banks for a while, with many having to turn…

Office for National Statistics (ONS) data revealed that the Consumer Price Index (CPI) – the official measure of inflation –…

The UK Government has long encouraged businesses to invest in Research & Development (R&D) projects, believing it to be at…

As an employer, you will likely face the delicate situation of employees asking for pay rises. With the cost-of-living crisis…

In the Spring 2023 Budget, the Government laid out plans to shake up the current free childcare system – but…

It is important for employees to feel valued in the workplace. A lot of the time, it is the little…

The 2020/21 tax year saw 1.4 million people charged interest on overdue tax payments – a 15 per cent increase…

With a growing number of company car owners using electric vehicles, many are deciding or being permitted to use company…

There have been several important tax decisions previously regarding the difference between vans and cars, but how do the different…

The Government has announced a shake-up in how Benefits in Kind (BIK) are paid. The move will allow tax agents…

The Valuation Office Agency (VOA) has updated the rateable values of all businesses, and other non-domestic, properties in England and…

Changes to the amount of Corporation Tax (CT) businesses pay came into effect on 1 April. From that date, the…

The Government has announced there will be greater scrutiny on the reporting of all crypto transactions, including for cryptocurrencies and…

Chancellor Jeremy Hunt has announced a partial replacement for the Super Deduction that allows companies to write off 100 per…

The abolition of the pensions Lifetime Allowance, (LTA) which was announced in the Spring Budget, releases people to save as…

Chancellor Jeremy Hunt announced a partial reversal to the SME Research & Development (R&D) tax credit cuts in the recent Spring…

Capital allowances are a form of tax relief for businesses. They allow you to subtract some or all of the…

Just a few days short of the third anniversary of the first Covid lockdown, Chancellor Jeremy Hunt rose to the…

You are an established business and doing well, but you are still ambitious and looking to improve and expand.

Your business may be sailing along quite nicely, or it may be struggling with the effects of shortages, rising prices…

With the Spring Budget looming in March, it is easy to be tempted to delay tax planning until afterwards in…

With the end of the tax year fast approaching on 5 April, it makes sense to assess your tax situation…

Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will now come into effect in April 2026 for businesses, self-employed individuals, and…

Business plans provide goals to work towards, help identify potential problems, give insight into competitors, and highlight potential opportunities. A…

Small business owners need to take measures to avoid costly mistakes when it comes to calculating, reporting and paying Value…

The Government has announced a two-year delay and further changes to the rollout of its Making Tax Digital for Income…

Businesses are being advised that time is running out to be able to take advantage of the Corporation Tax super-deduction…

Every business needs sound financial planning and oversight in order to thrive. With the new tax year just around the…

For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But…

If you own a small business and are also a shareholder director, you may be wondering whether to take a…

Keeping on top of your business’s financial health is critical to its success. A great place to start is by…

A major overhaul of VAT penalties came into effect on 1 January 2023. This new approach changes how penalties are…

The exemption for paying Capital Gains Tax (CGT) is changing. The CGT annual exemption will fall from £12,300 to £6,000…

Companies House has gone fully digital after the announcement of the closure of its office in London and all filing…

Chancellor Jeremy Hunt has announced a series of changes to the UK research and development (R&D) tax credit regime, including…

Planning for the future is essential when running a business and, ideally, you should have a perspective of where you…

Millions of new taxpayers will be created by the extended freeze on the income tax thresholds.   In the Autumn…

The message from the Chancellor, Jeremy Hunt, in the days before he rose to the despatch box in the House…

Investing in property can still provide a strong return, but it needs careful planning to achieve the best outcomes. Just…

If you are an owner of a limited company, taking money out of your business using dividends is a mainstay…

Card payments rocketed during the pandemic and that trend has continued since then. According to figures from the British Retail…

The status of IR35 or off-payroll working has caused some confusion since the repeals to reforms put forward by former…

The season of goodwill is just around the corner as Christmas approaches. It is a time of year when employers…

Inflation has been described as paying £15 for the £10 haircut you used to get for £5 when you had…

Announcements by the Chancellor – 17 October 2022 The markets have experienced considerable volatility as a result of the ‘Growth…

Corporation Tax to rise in April 2023: what you need to know The Prime Minister has announced that the Corporation…

Sterling’s fall to close to parity with the dollar means that the cost of investing in UK businesses is lower…

From 11 October, the interest rates on late tax payments rise again in line with the Bank of England’s (BoE)…

R&D tax reliefs have supported hundreds of thousands of businesses to invest in innovation by cutting the amount of tax…

The IR35 and off-payroll working rules, which affect how contractors operating through a personal service company (PSC) are classed and…

In his mini-Budget, Chancellor Kwasi Kwarteng announced plans for Tax-Free Investment Zones across England. The Government says these new economic…

With a new King at the Palace and a new Prime Minister at Number 10, it was no surprise that…

The Government has outlined a new Energy Bill Relief Scheme to support households, businesses and public sector organisations tackling soaring…

The UK has seen a boom in the ownership of Furnished Holiday Lets thanks to the increase in staycations. As…

The Government could move to crack down on anyone providing accountancy services who is not professionally qualified. As the law…

There were stunning figures released in a new survey about business start-ups recently. Data from small business lender iwoca showed that…

The march of the digital age and the effects of the pandemic have led to a Government institution closing its…

Expenses incurred by employees are generally the responsibility of the employer. Quite often, however, employees have to bear the cost…

New measures have been introduced for the even-handed treatment of spouses and civil partners who are in the process of…

HM Revenue & Customs (HMRC) has increased the interest rate applied to late tax payments following the latest hike in…