Latest Business News
R&D tax reliefs are changing in April – Are you ready?
Chancellor Jeremy Hunt announced many R&D tax changes in his Autumn Budget, including how the funding is allocated, which will be implemented in April. He announced changes to the rates paid by the Research and Development Expenditure Credit (RDEC) for
Make voluntary National Insurance contributions to ensure pension entitlement
People planning to claim the UK state pension have been advised to check their National Insurance (NI) record to identify any shortfalls in their payment history. NI contributions, or lack of them, can affect a person’s entitlement to the state pension in
Avoid stress and prepare for payroll year-end
It is that stressful time of year again with the payroll year-end fast approaching. Payroll year-end ties in with the tax year-end, which is 5 April. The deadline for submitting details to HM Revenue & Customs (HMRC) is 31 May.
Spring Budget 2023
Just a few days short of the third anniversary of the first Covid lockdown, Chancellor Jeremy Hunt rose to the Despatch Box to deliver the first full Budget to have taken place in 504 days and the first unaffected bySelf-Assessment taxpayers warned of next payment deadline
Taxpayers have been reminded that a penalty deadline for unpaid Self-Assessment tax is imminent.
Avoid these costly VAT mistakes
Small business owners need to take measures to avoid costly mistakes when it comes to calculating, reporting and paying Value Added Tax (VAT). The best way to prevent errors and stay on the right side of HM Revenue & Customs
What you should include in a business plan
Business plans provide goals to work towards, help identify potential problems, give insight into competitors, and highlight potential opportunities. A great business plan should include a concept, strategy, executive summary, market analysis, competitor analysis, the company’s financials and a clear
MTD for ITSA is delayed. Should you still go ahead with cloud accounting?
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 landlords with gross business and/or property income over £50,000. This will be followed in April 2027 for those with similar
How can you achieve taxation ‘quick wins’ before the end of the tax year
With the end of the tax year fast approaching on 5 April, it makes sense to assess your tax situation and make use of the reliefs and allowances available to you. Here are a few quick wins you can consider
Taxation planning should be an ongoing process, not just pre-Budget
With the Spring Budget looming in March, it is easy to be tempted to delay tax planning until afterwards in hopes of favourable tax cuts. However, the Chancellor has made it clear that significant cuts to taxation aren’t likely to