Blog

Commuting costs for hybrid workers

Commuting costs for hybrid workers

The Covid-19 pandemic fundamentally changed how many employees work and working from home became the norm. Since the pandemic, many employees have  partially returned to the office – their working week being split with some days spent in the office and some...

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Maintaining Financial Health

Maintaining Financial Health

Getting into good financial habits is sensible, but sometimes making those strategic money decisions can be overwhelming. Here’s our five-step guide to a healthy financial wellbeing. Budget EffectivelyIf you set yourself an effective budget you can control your...

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Practical and Effective Steps to Manage Debt

Practical and Effective Steps to Manage Debt

With rising living costs and the easy availability of credit, it can be easy to fall into debt. There are some practical and effective strategies that you can use to manage your debt, if you find yourself overwhelmed with money worries. So, whether you are dealing...

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Stealth Tax Raid

Stealth Tax Raid

A couple of years ago, the chancellor told us that the level at which we’d pay Income Tax would be frozen at £12,570 until April 2028 thus dragging more and more individuals into paying tax. Alongside this we have seen:    State pensions increasing in...

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Tax Deadlines & Penalties for Limited Companies

Tax Deadlines & Penalties for Limited Companies

Managing a limited company requires meticulous attention to regulatory obligations, particularly regarding tax and accounting. Financial compliance is punctuated by a series of key deadlines and potential penalties for...

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Spotlight on Personal Tax Planning 

Spotlight on Personal Tax Planning 

As we step into the 2024/ 2025 tax year, it's time to take a proactive approach to managing your personal finances.  Whether you are navigating the complexities of income tax, considering investment opportunities or planning for your future, understanding the...

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Changes to how business profits are taxed

Changes to how business profits are taxed

In preparation for ‘Making Tax Digital for Income Tax Self-Assessment’, the method of taxing your ‘sole trade’ profit or ‘share of partnership’ profit has significantly changed. Using an accounting date of 31 December as an example: a ‘sole trade’ or ‘share of...

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Making Tax Digital: The latest news

Making Tax Digital: The latest news

It's imperative that businesses and property landlords stay abreast of changes in tax reporting requirements, especially with initiatives like Making Tax Digital (MTD) on the horizon. MTD aims to modernise and streamline the tax system by digitising tax reporting and...

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Happy New Tax Year

Happy New Tax Year

The beginning of April 2024 has not only brought chocolate eggs, sunshine and spring flowers but also a flurry of tax changes.  The tax changes 2024 / 2025 will create winners and losers, depending on how much you earn.  However, with frozen allowances and thresholds...

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What is Capital Gains Tax?

What is Capital Gains Tax?

Capital Gains Tax (CGT) is a tax levied on the profit arising when you sell an asset, give it away, exchange it or otherwise dispose of it.  It could also apply if you receive insurance when an item is lost or destroyed. CGT is charged on the profit that you...

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A Spring Budget for long term growth (and cheap beer?)

A Spring Budget for long term growth (and cheap beer?)

Jeremy has been listening to his wavering constituents, but will his policies result in ‘more jobs, more investment and lower taxes?’   ‘Permanent tax cuts’ were mentioned during the speech, but is anything permanent in economics or politics?  ...

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Have you received a ‘nudge’ letter from HMRC?

Have you received a ‘nudge’ letter from HMRC?

If you have undeclared income or gains, it is always better to tell HMRC about it before they contact you.  Voluntarily disclosing omitted income and gains generally leads to more favourable treatment and lower penalties, compared to when corrections are prompted...

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HMRC announces simpler tax reporting

HMRC announces simpler tax reporting

HMRC have proposed improvements to two tax reporting systems which should simplify and modernise the tax system.  These are The reporting and payment of Income Tax and Class 1A National Insurance contributions on benefits-in-kind via payroll software will become...

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Maintaining Financial Health

Maintaining Financial Health

Getting into good financial habits is sensible, but sometimes making those strategic money decisions can be overwhelming. Here’s our five-step guide to a healthy financial wellbeing. Budget EffectivelyIf you set yourself an effective budget you can control your...

read more
Practical and Effective Steps to Manage Debt

Practical and Effective Steps to Manage Debt

With rising living costs and the easy availability of credit, it can be easy to fall into debt. There are some practical and effective strategies that you can use to manage your debt, if you find yourself overwhelmed with money worries. So, whether you are dealing...

read more
Tax Deadlines & Penalties for Limited Companies

Tax Deadlines & Penalties for Limited Companies

Managing a limited company requires meticulous attention to regulatory obligations, particularly regarding tax and accounting. Financial compliance is punctuated by a series of key deadlines and potential penalties for...

read more
Changes to how business profits are taxed

Changes to how business profits are taxed

In preparation for ‘Making Tax Digital for Income Tax Self-Assessment’, the method of taxing your ‘sole trade’ profit or ‘share of partnership’ profit has significantly changed. Using an accounting date of 31 December as an example: a ‘sole trade’ or ‘share of...

read more
Our Top Ten Tips for dealing with VAT as a small business

Our Top Ten Tips for dealing with VAT as a small business

If you are running a small business VAT can be a tricky area, there are many obligations and legal requirements that you must adhere to. Here’s our top ten thoughts on the areas where you can be at risk: Failing to register for VAT, or registering incorrectly can lead...

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Unlocking the potential of the SME

Unlocking the potential of the SME

In a move to empower and advocate for small businesses, the establishment of the Small Business Council marks a significant milestone in fostering entrepreneurship and innovation. Small businesses are often considered the backbone of the UK economy, comprising 99.9%...

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Spotlight on Managing Cashflow for Small Businesses 

Spotlight on Managing Cashflow for Small Businesses 

Managing cash flow effectively is crucial for the survival and growth of your small business. It involves planning, monitoring, and controlling the money flowing in and out of your business to ensure you have enough cash to cover expenses and avoid...

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New powers for Companies House

New powers for Companies House

The Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on 4 March 2024 providing new powers for Companies House. Companies House, the UK’s registrar of companies, plays an important role in maintaining public records related to corporate...

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