Latest Business News
Invoice fraud becoming a significant problem
Invoice fraud, affecting one in three companies, involves deceptive practices that trick businesses into making payments to fraudulent accounts. As fraudsters’ techniques become more sophisticated, businesses must understand their tactics and the potential impact on operations. Here are some common
Total Income Tax and NI income hits new high
HM Treasury has taken £77.2 billion in Income Tax and National Insurance (NI) since April 2024 – signalling the effect of the freeze in the Personal Allowance and Income Tax bands and thresholds. Taxpayers have seen two landmark cuts to
What the summer may mean for your business
Whether the hot weather lasts or not, summer is here to stay, bringing with it seasonal challenges and opportunities for business owners. You may think summer is business as usual, but many companies face disruption and delays due to: More
Management buyouts – An alternative approach to exit and succession
When developing your business exit and succession strategy, you must consider all possible avenues, including those which might not seem so obvious. A management buyout (MBO) is one such approach that has gained traction for its flexibility and the ability
Three great reasons to file your tax return early
We often find that clients begin to show signs of stress when the Self-Assessment tax return deadline approaches. This is just one of the reasons we recommend you file your return early, but there are numerous other benefits. Here are
New advisory fuel rates for electric company cars
HM Revenue & Customs (HMRC) has recently announced new Advisory Fuel Rates (AFRs) that will take effect from 1 June 2024. These changes include a reduction in the Advisory Electric Rate (AER) for electric vehicles – which can be highly
The increase to Companies House fees: What you need to know
As of 1st May 2024, Companies House has implemented revised fees, marking a significant change in the cost structure for various services. This adjustment stems from the Economic Crime and Corporate Transparency (ECCT) Act, introducing measures that inevitably increase operational
Using an iPhone? Keep an eye out for tax refund scammers
HM Revenue & Customs (HMRC) has warned that a new wave of fraudulent text messages is targeting taxpayers using iPhones, claiming that recipients are owed tax refunds and must supply personal information to receive them. Some recipients are also being
New accounting practices outlined for LLPs
The Consultative Committee of Accountancy Bodies (CCAB) has released the 2024 edition of its Statement of Recommended Practice Accounting (SORP) for Limited Liability Partnerships (LLPs). CCAB is appointed by the Financial Reporting Council (FRC) to oversee the SORP for LLPs,
Are you ready for changes to LLP salaried member rules?
HM Revenue & Customs (HMRC) has issued its updated guidance on salaried members in limited liability partnerships (LLPs), in relation to capital contributions. Currently, LLPs incorporate elements of both partnerships and limited companies, limiting the liabilities of each partner to