HM Revenue & Customs (HMRC) has continued to run campaigns to ensure that overseas workers, registered in the UK, are paying the correct taxation rates. Taxpayers that have overseas assets and income may still be obligated to pay UK tax rates under certain circumstances. The first step HMRC will take Read more…
HM Revenue and Customs (HMRC) has recently reported a significant increase in Corporation Tax receipts for 2022/23. The receipts have risen by £17.3 billion, reaching a record £84.7 billion. This represents a 26 per cent increase on the previous tax year, which is a substantial figure by any measure. This Read more…
HM Revenue & Customs (HMRC) has recently launched a consultation on new rules aimed at simplifying the reporting of salary advances. This change is expected to have a significant impact on employers, streamlining administrative processes and reducing costs. Under existing legislation, salary advances are treated as a payment on account Read more…
New research from the #SBS State of the Nation Roundtable report has revealed that 72 per cent of small and medium-sized enterprises (SMEs) feel they are surviving, rather than thriving. Fewer than one-third of small businesses have enough cash in hand to be able to keep their businesses afloat for Read more…
As experts in the field of accountancy, we understand the unique challenges business owners face when it comes to payroll. We’ve put together three essential tips to help you manage maternity and paternity pay, ensuring legal compliance and employee satisfaction. Understand the statutory requirements: In the UK, employees are entitled Read more…
If your company is involved in the creative industry, then it could be eligible for significant tax relief from the Government. These tax reliefs support the Government’s objective of becoming the technological centre of Europe by promoting growth in the digital, creative, and other high-technology areas. Your business can claim Read more…
Stagnation is a prolonged period of little or no growth in the economy and it can have a serious impact on your business. Whilst talking to The Guardian, Samuel Tombs, a leading UK economist, claimed that stagnation will cause “businesses to cut employment and investment, and trigger a sharp decline Read more…
After the fourteenth consecutive increase in interest rates since 2021, many business owners will be asking themselves the same thing: “When will interest rates finally fall?” The higher the interest rates, the more money you pay on your debts like loans, overdrafts, and credit cards. Equally, many of your customers Read more…
You must file your company accounts, to avoid late filing penalties, Companies House is warning. All companies must file annual accounts with Companies House each year, regardless of whether they are trading or not, or whether they are public or private. This applies to both large and small companies. LLPs Read more…
In a world where technological advancements are reshaping industries, small and medium-sized enterprises (SMEs) cannot afford to be left behind. The hesitance to embrace new technologies, epitomised historically by movements like the Luddites in the 19th Century, can impede growth and competitiveness. For SMEs open to innovation, Artificial Intelligence (AI) Read more…
