Latest Business News
Companies House service goes digital
The march of the digital age and the effects of the pandemic have led to a Government institution closing its physical doors. After two years of closure due to the pandemic, Companies House has confirmed that it will permanently close
Back to basics: Job expenses
Expenses incurred by employees are generally the responsibility of the employer. Quite often, however, employees have to bear the cost themselves when travelling for work, having meals and even providing clothes, which in most cases are not tax deductible. What
New law delivers even-handed treatment for separating couples
New measures have been introduced for the even-handed treatment of spouses and civil partners who are in the process of separation, divorce or dissolution. The new legislation clarifies Capital Gains Tax (CGT) rules that apply to transfers of assets between
Government increases interest rate on late tax payments
HM Revenue & Customs (HMRC) has increased the interest rate applied to late tax payments following the latest hike in the Bank of England base rate. The late payment interest rate increased to 4.25 per cent from 23 August –
Back to Basics on Business Mileage
Ask anyone who either uses their vehicle for business reasons, or puts fuel in a company car, and you will soon realise business mileage can be a confusing topic. It’s important to know that if you fall into either of
HMRC set to modernise direct debit system for employer PAYE
HM Revenue & Customs (HMRC) has announced plans to offer a recurring direct debit to employers as part of their wider payment modernisation programme. At present, employers can only set up a direct debit to collect a single payment. The
Calls for Government to tackle late payments to small businesses
A new study has revealed the cashflow struggles faced by small businesses across the UK, resulting in calls for Government action. The research, conducted by Xero Small Business Insights and Accenture, discovered that the average UK small business experienced a “cash flow crunch”
I can’t pay my tax bill – what should I do?
With fluctuating incomes and the costs of living hitting businesses and individuals alike, people who have never previously had any issue with paying tax bills on time may have found themselves passing the 31 July payment on account deadline without
COVID business loans scheme extended for two years
The Recovery Loan Scheme, which helped businesses throughout the pandemic, has been extended for a further two years. Launched on 6 April 2021, the Recovery Loan Scheme (RLS) was one of several finance schemes available to struggling businesses. It provided
Group companies – Considerations ahead of the Corporation Tax rise
Corporation Tax (CT) rates are set to rise in the UK from 1 April 2023. From this date, the main rate of CT will increase to 25 per cent for all companies with taxable profits over £250,000. There will also