Latest Business News
Repeal of furnished holiday lettings tax regime – Last chance for capital allowance claims
The furnished holiday lettings (FHL) tax regime is set to be scrapped from April 2025, with draft legislation already on the table. If you own a holiday home, now is the time to get familiar with these forthcoming changes and
Reminder – The deadline to register for Self-Assessment is approaching
When you’re self-employed, keeping track of essential dates and deadlines can be challenging. One crucial date to remember is 5 October 2024, which is the deadline to register for Self-Assessment. If you started working as a self-employed individual on or
King’s Speech – What did he say? Why does it matter to you?
King Charles delivered his speech to Parliament last month following the election, setting out the priorities of the new Labour Government for the months ahead. The speech included 40 pieces of legislation that the Government plan to implement. To help
The Budget is coming – It is time to prepare
The first Budget of the new Labour Government has been announced to take place on 30 October 2024. Ahead of the budget, Chancellor Rachel Reeves has announced that spending cuts worth £13.5 billion will be required over the next two
Audit rules are changing – Get ready
In a bid to ease the regulatory burden on businesses, new thresholds for classifying company sizes have been announced. This change, introduced by the previous Government, could allow around 132,000 businesses to skip mandatory audits. Under the current plans, which
Worried about a new tax bill? A guide for pensioners
Recently, many pensioners received surprising news: a tax bill for the first time. This stems from HM Revenue & Customs (HMRC) decision to send letters to over 140,000 pensioners, who have taxable income but are not filing Self-Assessment. In total,
How to keep your business afloat amid rising HMRC pressures
Recently, there has been a significant increase in company closures due to petitions from creditors, particularly HM Revenue & Customs (HMRC). In 2023, forced closures rose by 63 per cent compared to 2022. This spike is mainly due to high
SME late payments surge: How to mitigate the impact
The issue of late payments has become a growing concern for small businesses. Recent data from Xero Small Business Insights reveals that, on average, payments were made 7.3 days late between April and June 2024. This is an increase of
Inside the private equity boom
Private equity investment has been a significant force in the financial world for some time. However, the nature of private equity has changed considerably in the last few years and it’s worth knowing how this may affect your business. Background
Taxes on the rise: A certainty, not a possibility
By the time you read this, the next UK Government is likely to have been formed. Whatever the outcome achieved in the election and despite the various parties campaigning and pledges around tax, expert opinion suggests that future rises are