August 15, 2024
HMRC interest rates to be reduced
The Bank of England’s decision to reduce the base rate to 5% means that HM Revenue & Customs (HMRC) will also reduce their interest rates.
August 14, 2024
Chancellor refuses to rule out increase to capital gains tax
Chancellor Rachel Reeves visited the US and Canada last week, and during an interview with Bloomberg was asked whether she was considering increasing capital gains tax.
August 12, 2024
Pitfalls to avoid in making a strategic plan
For businesses, having a strategic plan in place is vital for the long-term success and sustainability of the business. It serves as a roadmap for your business that gives you a clear direction, sets out the priorities, and helps you to make sure that you are using your resources effectively to reach your goals.
August 8, 2024
Abolishment of Furnished holiday lettings tax regime confirmed
HM Revenue and Customs (HMRC) have published draft legislation and a policy paper outlining the proposal for the abolition of the furnished holiday lettings (FHL) tax regime.
August 6, 2024
Bank of England reduces base rate to 5%
As anticipated, the Bank of England reduced their base interest rate on August 1 from 5.25% to 5%.
August 5, 2024
Chancellor’s speech paving the way to a potentially difficult Autumn budget
The Chancellor of the Exchequer, Rachel Reeves, addressed the House of Commons last week to detail the results of a Treasury spending audit
August 1, 2024
HMRC conducting Business Asset Disposal Relief checks
The Institute of Chartered Accountants in England and Wales (ICAEW) have reported that HM Revenue and Customs (HMRC) are contacting taxpayers they believe may have overclaimed Business Asset Disposal Relief.
July 31, 2024
Nine out of ten small employers concerned about new legislation
The King’s Speech detailed proposals for a number of areas of new legislation that are likely to affect small employers.
July 29, 2024
Chancellor Launches Landmark Review to Boost Pensions and Investment
The Chancellor, Rachel Reeves, has announced a significant review aimed at enhancing pension investments, increasing pension pots, and reducing waste in the pensions system. The review was highlighted in the King's Speech, confirming a new Pensions Bill that could significantly benefit UK pensioners and the broader economy.
July 25, 2024
Making HMRC pay for poor service
Dealing with HM Revenue & Customs (HMRC) can sometimes be challenging. Long wait times when phoning for help, incorrect refund amounts, errors in tax codes and other issues can cause frustration. In recent months and years the decline in service standard from HMRC has been notable, but did you know that it is possible to complain about HMRC and even receive compensation?
July 24, 2024
Inflation stable staying at 2%
The Office of National Statistics has released the latest inflation figures for June, and the good news is that the Consumer Prices Index (CPI) has stayed at 2.0%.
July 22, 2024
Highlights from the King’s speech: What impact may they have on your business?
Last week King Charles delivered the King’s Speech. This is a speech traditionally delivered at the State Opening of Parliament and it sets out the government’s plans and priorities for the coming year.
July 18, 2024
The new government’s six first steps for change: Implications for your business
The new government has rolled out an ambitious plan to drive significant changes across the UK, and as your business advisors, we want to break down how these could impact you.
July 17, 2024
New VAT registration tool released by HMRC
HM Revenue & Customs have released a new tool designed to help businesses find out what VAT registration would mean for their business.
July 15, 2024
Highlights from the Chancellor’s speech: What are the implications for tax and compliance?
The new Chancellor of the Exchequer, Rachel Reeves, delivered her first speech as Chancellor last week outlining her plans for revitalising the UK economy. While her speech was inevitably political and included criticism for the previous government while emphasising her own role, there were also some key takeaways for her plans on tax. Here’s a summary with some comments on what they could mean for you.