Month: August 2024

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

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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

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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

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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,

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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

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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

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