Blog
Thinking About Starting a Business?
One of the most crucial decisions you'll make when starting a business is choosing the right structure. This choice impacts everything from your tax responsibilities to your level of personal liability, and even how you can secure funding. If you're considering...
Crypto investors urged to review tax obligations
The Chartered Institute of Taxation (CIOT) has emphasised the importance of accurate and timely tax reporting for all crypto-asset owners. UK crypto investors are urged to review their tax responsibilities as HMRC begins issuing “nudge letters” to those it suspects...
Will Pension Tax Reliefs change in the October Budget?
It was only last April when we saw the abolition of the lifetime allowance charge. There was also a significant increase in the pension annual allowance from £40,000 to £60,000 a year. Since then, Rachel Reeves has commented on Pension Tax Reliefs being...
Spotlight on Tax-efficient giving
Tax-efficient giving during your lifetime is a crucial component of estate planning, helping to minimize your potential inheritance tax (IHT) liabilities by benefiting your loved ones. By strategically using available allowances and exemptions during your lifetime,...
Don’t Miss Out on Your Full State Pension: Check Your National Insurance Record
HM Revenue and Customs (HMRC) has issued a reminder for individuals to review their National Insurance (NI) record to ensure they’re not missing out on valuable State Pension entitlements. This is especially important if there are gaps in your NI history. The issue...
Will the October Budget see a change in Capital Gains Tax rates and reliefs?
Capital Gains Tax (CGT) was established in 1965 by the Labour Chancellor in response to rising property values and investments after World War II, which had previously gone untaxed upon sale. Initially set at 30% in the 1980s, CGT rates were aligned with Income Tax...
ABC…Accepting Business Change
If you are running your own business, are you open to change? A business that is quick to accept change and adapt to market conditions, is one that is more likely to thrive. Change is inevitable but how you respond and manage change is key. There are some basic...
New Tipping Rules – Are You Ready?
From 1 October 2024, the Employment (Allocation of Tips) Act 2023 will come into effect. The legislation mandates that employers must ensure workers receive the entirety of any tips left by customers. The new law requires businesses to distribute all discretionary...
Providing a helping hand to finance functions
With the retirement of their previous accountant and their internal Financial Director at the same time, Touch of Ginger (TOG) found themselves with a potentially large gap in the finance function of their business that needed to be rectified quickly to ensure the...
Crypto investors urged to review tax obligations
The Chartered Institute of Taxation (CIOT) has emphasised the importance of accurate and timely tax reporting for all crypto-asset owners. UK crypto investors are urged to review their tax responsibilities as HMRC begins issuing “nudge letters” to those it suspects...
Will Pension Tax Reliefs change in the October Budget?
It was only last April when we saw the abolition of the lifetime allowance charge. There was also a significant increase in the pension annual allowance from £40,000 to £60,000 a year. Since then, Rachel Reeves has commented on Pension Tax Reliefs being...
Spotlight on Tax-efficient giving
Tax-efficient giving during your lifetime is a crucial component of estate planning, helping to minimize your potential inheritance tax (IHT) liabilities by benefiting your loved ones. By strategically using available allowances and exemptions during your lifetime,...
Will the October Budget see a change in Capital Gains Tax rates and reliefs?
Capital Gains Tax (CGT) was established in 1965 by the Labour Chancellor in response to rising property values and investments after World War II, which had previously gone untaxed upon sale. Initially set at 30% in the 1980s, CGT rates were aligned with Income Tax...
Get ahead of the Game: Submit Your 2024 Self-Assessment Tax Return early!
Gathering together all the information you need to complete your Tax Return can be stressful, especially as you’ll find yourself scrambling around to gather documents from April 2023 to April 2024. By submitting your Tax Return earlier than its usual due...
Tax Adviser vs. Accountant: What’s the Difference?
At CKLG, we offer the best of both worlds. Our Business Services Team provide expert accounting services, while our Tax team specialise in tax advice. Although the roles of an accountant and a tax adviser often overlap, they serve distinct purposes when it comes to...
Do you need to register for Self Assessment?
If you know you owe Income Tax on increased amounts of savings income and/or have sold assets realising a chargeable gain on which Capital Gains Tax is payable – it is very likely that you will need to complete a 2024 Tax Return. This will involve registering for...
Will the October budget be “painful”?
The Prime Minister, Sir Keir Starmer, has said that the October budget will be “painful” and the government would be making “big asks” of the country. He said that the country would need to be prepared to “accept short-term pain for long-term good” and that those with...
Should you be thinking about passing on wealth before the budget?
Many individuals are passing on their wealth in anticipation of possible changes to Inheritance Tax (IHT) in Labour’s first Budget on 30 October. Should you consider doing the same? Do you know what the value of your Estate is and your potential IHT exposure under the...
One of the most crucial decisions you'll make when starting a business is choosing the right structure. This choice impacts everything from your tax responsibilities to your level of personal liability, and even how you can secure funding. If you're considering... HM Revenue and Customs (HMRC) has issued a reminder for individuals to review their National Insurance (NI) record to ensure they’re not missing out on valuable State Pension entitlements. This is especially important if there are gaps in your NI history. The issue... If you are running your own business, are you open to change? A business that is quick to accept change and adapt to market conditions, is one that is more likely to thrive. Change is inevitable but how you respond and manage change is key. There are some basic... From 1 October 2024, the Employment (Allocation of Tips) Act 2023 will come into effect. The legislation mandates that employers must ensure workers receive the entirety of any tips left by customers. The new law requires businesses to distribute all discretionary... With the retirement of their previous accountant and their internal Financial Director at the same time, Touch of Ginger (TOG) found themselves with a potentially large gap in the finance function of their business that needed to be rectified quickly to ensure the... In our latest Spotlight Report we shine a light on the world of R&D Tax Credits. Designed to encourage businesses to spend more on R&D activities they can provide you with an ‘R&D Tax Credit cash refund’ or reduce your tax bill. It’s worth remembering that... HMRC have created a video to provide advice to Construction Industry Scheme (CIS) subcontractors. The video runs for just over a minute and briefly explains why contractors must provide accurate material costs and encourages contractors to send the correct details... At CKLG, we offer the best of both worlds. Our Business Services Team provide expert accounting services, while our Tax team specialise in tax advice. Although the roles of an accountant and a tax adviser often overlap, they serve distinct purposes when it comes to... Starting a business is an exciting journey filled with creativity, innovation, and the thrill of bringing an idea to life. However, amidst all the energy and focus on launching a startup, financial management can often take a backseat. This is where the role of an...
Thinking About Starting a Business?
Don’t Miss Out on Your Full State Pension: Check Your National Insurance Record
ABC…Accepting Business Change
New Tipping Rules – Are You Ready?
Providing a helping hand to finance functions
Spotlight on R&D Tax Credits
HMRC’s Construction Industry Scheme Subcontractors Information Video
Tax Adviser vs. Accountant: What’s the Difference?
When does a Startup Company need an Accountant?
Get in touch
Phone
Find Us
9 Quy Court, Colliers Lane, Stow-cum-Quy, Cambridge, CB25 9AU