March 27, 2024
Employers – Are you ready for the new tax year?
The new tax year begins on 6th April and for employers running monthly payrolls, the March pay run will be the last of the 2023/24 tax year.
March 25, 2024
Increase to small company thresholds
Thresholds based on a company’s accounts and employee numbers determine whether a company is categorised as small or not. Being able to qualify as a small or medium sized business can cut red tape for a business with the reduced amount of both non-financial and financial reporting a small or medium sized business is required to do.
March 22, 2024
Are you or your employees making good use of Tax-Free Childcare?
Tax-Free Childcare is available to working families to help them save on their childcare costs. However, many may not be making use of this provision and with the Easter break soon upon us, HM Revenue & Customs (HMRC) is encouraging families who have not yet signed up to consider doing so.
March 20, 2024
Redundancies – what factors should be considered?
In times of economic uncertainty or because of operational challenges, you may find your business is facing tough decisions, including the possibility of redundancies. While such situations can be daunting and emotionally challenging, careful consideration and planning can help reduce the impact on both employees and the business as a whole.
March 18, 2024
2024 – The year of the SME
2024 seems to be a good year to be a small business. The UK Government is doubling down on its commitment to the nation’s 5.5 million small businesses by announcing the launch of a new Small Business Council.
March 15, 2024
Spring Budget – VAT registration threshold increases
The thresholds for VAT registration and deregistration have remained static for the last 7 years, however an increase in the thresholds was announced in the Spring Budget.
March 13, 2024
Spring Budget - National insurance cuts – what they mean to you as an employer
The national insurance cuts in the Spring Budget have made most of the Budget-related headlines. So, what is the effect of this on you as an employer?
March 11, 2024
Spring Budget – A budget for long-term growth?
Jeremy Hunt, Chancellor of the Exchequer, delivered his Spring Budget 2024 speech on 6 March 2024. This potentially is the last budget before the next general election, which will need to be held before 28 January 2025. The Budget was designed to emphasise the government’s good achievements as well as to appear to lower taxes and curry favour with voters.
March 8, 2024
Making Tax Digital: New policy paper published
A new policy paper has been released by HM Revenue and Customs (HMRC) on Making Tax Digital for Income Tax Self Assessment for sole traders and landlords.
March 6, 2024
Are you eligible for a £252 saving on your tax bill?
With the tax year ending on 5 April, March is a good month to check whether sharing unused tax allowances with your partner could save you some money.
March 4, 2024
Understanding the pros and cons of the VAT Flat Rate Scheme for businesses
Value Added Tax (VAT) is a significant consideration for businesses. It impacts your cash flow, the amount of admin work needed, and even your overall profitability. One option available to businesses - with a VAT exclusive turnover of £150,000 or less - is the VAT Flat Rate Scheme (FRS), which offers a simplified approach to VAT accounting.
March 1, 2024
Update expected to the Code of Practice on requests for flexible working
The Advisory, Conciliation and Arbitration Service (ACAS) has released a final draft of a new Code of Practice on requests for flexible working. The draft Code received consultation in 2023 and is now awaiting parliamentary approval. If it is approved, then the new Code is expected to come into force in April 2024.
February 28, 2024
Companies House fees to increase from 1 May 2024
Companies House have reviewed the fees they charge and have released details of the new charges that will apply from 1 May 2024.
February 26, 2024
Exploring tax implications: Limited company vs Sole Trader
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 or forming a limited company. Each of these options comes with its own set of pros and cons, especially when it comes to tax.
February 23, 2024
What’s your policy on scanning QR codes?
Since the COVID lockdowns, QR codes have become increasingly commonplace as a quick way to direct people to websites, to log into online video services on smart TVs and TV boxes, or to order or pay for goods and services.