Knowledge hub

9 Tax Saving Tips for Company Directors

For those who do not want to pay more taxes than they are legally obliged to, here are some methods that the government has made available to you.

Featured

Spring Budget 2023

Just a few days short of the third anniversary of the first Covid lockdown, Chancellor Jeremy Hunt rose to the Despatch Box to deliver the first full Budget to have taken place in 504 days and the first unaffected by the immediate impact of the pandemic since October 2018.

Featured

Blog right caret

Adapting your business plan for the summer

Blog

Tax implications to consider for business owners when paying themselves 

Blog

Research and Development tax relief changes 

Blog

What you need to know about running your business from home

Blog

Everything you need to know about Government Start Up Loans

Blog

Taxi firms may have to charge VAT on their services if new legislation comes to pass

Blog

Understanding tax obligations for charities

Blog

Late payments – why they are so damaging to small businesses and how to deal with them

Blog

The role of cloud accounting in modern businesses

Blog

Payroll considerations when expanding your business internationally

Blog

Navigating estate planning and Inheritance Tax: what you need to know

Blog

Navigating National Insurance contributions – what do you need to know? 

Blog

Best practices for business and personal finances

Blog

Understanding employer obligations for payroll 

Blog

Cloud-powered accounting: Advancing beyond traditional cloud accounting systems

Blog

Tax considerations for small business owners: Sole traders vs limited companies 

Blog

Crafting success: Selecting the right business framework

Blog

Management accounts – Why timing is everything 

Blog

Five strategies for leveraging financial forecasting

Blog

Tax reliefs business owners can claim amidst record Corporation Tax payments

Blog

New VAT changes: are you ready to move into a paperless world?  

Blog

How the National Living Wage increase could affect businesses

Blog

How management accounts can help your business

Blog

Paper VAT registration to be abolished in latest digital move

In the latest move in their Making Tax Digital (MTD) campaign, HM Revenue & Customs (HMRC) is removing paper VAT registration from 13 November 2023.

Blog

Understanding loss carry-back claims

Blog

A look at the scalability of in-house vs outsourced accounting 

Blog

Everything you should know before becoming a sole trader

Blog

Becoming a freelancer – setting up a limited company

Blog

How does your locus of control influence entrepreneurial success?

Blog

National Insurance: What are the changes and how do they affect me? 

Blog

Understanding Capital Gains Tax on property investments

Blog

An overview of Personal Tax – what do you need to know?

Blog

Implications for businesses amid soaring pension tax relief

Blog

Twelve Days of Tax Tips

Blog

How to keep your clients happy and grow your business 

Blog

Employers must be ready for upcoming changes to pay in 2024

Blog

Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers

Blog

Allowable business expenses – simple ways to save money

Blog

Future-proof your SME – Follow our handy tips for 2024

Blog

Navigating the Capital Gains Tax annual exemption reduction – a reminder of what you need to know

Blog

Here’s how you can boost your SME’s efficiency and beat rising costs in 2024

Blog

Warning to all taxpayers – Pay your taxes on time amidst rising interest rates

Blog

Management buyouts – The tax perspective

Blog

Attention UK Taxpayers – do you understand the 500T tax code?

Blog

Why should your SME produce management accounts? 

Blog

Making Tax Digital – Your questions, answered

Blog

I am hiring my first member of staff – how do I set up payroll? 

Blog

Five Self-Assessment deductions you didn’t know you could claim 

Blog

How will the R&D tax relief change in April? 

Blog

Higher rate taxpayer? How to prepare for the end of the tax year

Blog

What do you need to know about Marriage Allowance? 

Blog

Companies House is changing – are you prepared?

Blog

Do you employ part-time workers? Here’s how their holiday entitlement calculation system will change 

Blog

Government Gateway to be replaced with single login system

Blog

I’m not VAT registered; can I claim VAT back? 

Blog

Cloud accounting isn’t right for my business! We disagree.

Blog

Prepare your payroll – the upcoming changes 

Blog

Funding for growing businesses – Obtaining and managing private investment

Blog

Can you make a negligible value claim for unquoted shares? 

Blog

The new tax year is starting – don’t let your taxes stress you out! 

Blog

Plan a little, achieve a lot – Destress with effective tax planning

Blog

Why should you use the HMRC app? 

Blog

Why is it so important to separate your personal and business finances?

Blog

Making MTD for ITSA easier for landlords

Blog

How do accountants support small businesses?

Blog

HMRC has clarified tax rules on commuting for hybrid and remote workers

Blog

How to use financial forecasting effectively 

Blog

Everything you need to know about Patent Box

Blog

What should you consider when starting a seasonal business?

Blog

Comparing the tax differences between Furnished Holiday Lets and furnished residential lets

Blog

Earning between £100,000 and £150,000? Your tax return is changing

Blog

How an accountant can help to build a high-performing team

Blog

Is incorporation still the way to go for solid financial planning?

Blog

What is the Flexible AI Upskilling Fund?

Blog

Are you optimising profit extraction from your business? 

If you’re a business owner of a limited company, it’s important that you know how to make the most of your after-tax profit to support your personal financial health – known as profit extraction.  

Blog

What is more suitable for scalability? In-house or outsourced accounting

Blog

Key factors to keep in mind before launching your business

Blog

Six simple ways to cut your business costs

Blog

Business right caret

Small business confidence dips ahead of new customs controls coming into force

Four in 10 exporters have reported a fall in international sales since the end of the Brexit transition period, a major study has revealed. According to the tracker, four in 10 – around 41 per cent of traders – have reported a “drop off” in international sales in the three months to September 2021.

Business

Large number of businesses looking to recruit more staff

It is perhaps a sign of confidence returning to the UK economy that a significant number of British businesses believe they will be recruiting staff over the coming year.

Business

Spring Statement 2022 summary

Mr Sunak found himself addressing MPs against a background of crisis, with the residual impact of COVID, the invasion of Ukraine and the cost-of-living crisis all affecting the economy in different ways.

Business

Bank campaign launched as businesses baffled by carbon jargon

The British Business Bank has launched a campaign to alert and encourage SMEs to make the most of the commercial benefits of investing in decarbonisation.

Business

Hundreds of thousands of jobs saved by loans says report

Business

Commercial property values affected by poor ESG performance

Business

Be prepared if you decide to adopt a working from home policy

So, it seems sensible that both employers and members of staff take full advantage of any tax breaks or allowances available for those not in the office.

Business

Be aware of your obligations when using subcontractors

They carry out work that the contractor can’t perform, but remains responsible for, while the subcontractor provides his or her services under a contract for service.

Business

The benefits of taking on an apprentice

With the current labour shortage affecting pretty much all areas of the economy, taking on an apprentice could reap rewards for many businesses.

Business

Neglected commercial properties could be transformed by new initiative

Hundreds of neglected commercial properties could be transformed by a coalition of landlords and retailers with Government support.

Business

How can tourism businesses achieve Net Zero?

Whilst the Government has outlined its plan to be Net Zero by 2050, your business should have a plan in place to lower its carbon footprint.

Business

Extended Enterprise Management Incentive valuation period to be wound down

Businesses have been reminded of a change in a share option scheme that enables companies to attract and keep key staff by rewarding them with a share of the business.

Business

Taxman reminds couples to take advantage of Marriage Allowance

Marriage Allowance allows married couples or people in civil partnerships to share their personal tax allowances if one partner earns below the Personal Allowance threshold of £12,570, and the other is a basic rate taxpayer

Business

Savers facing being taxed on interest for the first time

Rising interest rates are a worry for those with a mortgage or loan, but for savers, it means an increase in their investment as savings rates rise.

Business

Tax year basis reform: Should I change my year-end?

In the first blog of this series on tax year basis reforms, we will be discussing the new rules that will affect how unincorporated businesses are taxed from 2023/24.

Business

Tax year basis reform: How does this change affect me?

Business

First lenders announced for new Recovery Loan Scheme

The first batch of lenders accredited to take part in the latest version of the Recovery Loan Scheme (RLS) has been announced.

Business

Interest rate hike puts pressure on taxpayers behind on payments

In light of the recent increase in the Bank of England’s base rate, HM Revenue & Customs (HMRC) has announced a rise in interest on both late paid tax and repayments of tax.

Business

More than 90 businesses created every hour

A new survey has revealed that 93 new businesses were created every hour across the UK in the first half of 2022.

Business

SMEs struggle as number of late payments increase

Small businesses are still struggling from the scourge of late payments, with a new survey showing a six per cent increase in the amount owed over a year ago

Business

The recipe to business success and how to deal with it

Success comes with its own unique challenges and we have several tips for you to manage growth and success in the best way possible.

Business

Struggling with your cashflow? Here are our top tips

Maintaining a healthy cashflow sometimes feels like a big headache, especially with the ongoing cost of living crisis hiking your costs.

Business

Firms involved in four-day week pilot satisfied with progress

Firms that signed up to take part in a four-day working week trial have reported the scheme is going well at the halfway point.

Business

Fiscal Statement

With a new King at the Palace and a new Prime Minister at Number 10, it was no surprise that the new Chancellor at Number 11 used his first statement to the House of Commons to signal a “new era” for fiscal policy.

Business

Why management accounts are vitally important for businesses

It may seem obvious, and the clue is in the name, but management accounting reports can provide vital insights into the performance of a business.

Business

Late payments add to the costs burden for SMEs

Small businesses, or SMEs, are the lifeblood of the country and their financial stability is a major factor in keeping the economy moving

Business

Self Assessment customers could be a target for fraudsters as deadline approaches

With the deadline for returning paper Self Assessment tax returns for the 2021 to 2022 tax year rapidly approaching, HM Revenue & Customs (HMRC) has warned taxpayers to be on the lookout for fraudsters.

Business

How you can make your payroll run smoothly

The smooth running of payroll is vital as your staff are one of the most important parts of your business

Business

Looking to grow – What are the benefits of networking? And how can your accountant help?

Communication and networking may not seem a priority for busy SMEs struggling against economic headwinds at the moment.

Business

Taxpayers urged to file Self-Assessment form online

The deadline for filing paper returns for Self-Assessment is now imminent, but the taxman is also reminding taxpayers that there are now less than 100 days left to file their returns online.

Business

Top tips for launching a successful start-up

Although many new entrepreneurs already have a clear vision of what they want to do, they may not know where to start.

Business

Avoiding obstacles with the Construction Industry Scheme

Under the Construction Industry Scheme (CIS), contractors take money from a subcontractor’s payments and send it to HM Revenue and Customs (HMRC).

Business

HMRC raises interest rates on late payments from 22 November

HM Revenue & Customs (HMRC) will raise the interest rates on tax debt from 22 November following the 0.75 per cent increase in the Bank of England base rate.

Business

Number of R&D claims fall in HMRC fraud crackdown

A crackdown on suspected Research and Development (R&D) tax credits fraud by HM Revenue & Customs (HMRC) has led to a fall in claims for the first time.

Business

Accountants helping businesses make savings, says survey

Accountants are saving businesses time and money as well as easing the pressure of rising inflation, according to a new survey.

Business

Autumn Statement 2022

The message from the Chancellor, Jeremy Hunt, in the days before he rose to the despatch box in the House of Commons to deliver the Autumn Statement was clear; he would be outlining billions of pounds of tax rises and spending cuts.

Business

Be prepared for changes to Capital Gains Tax thresholds 

The Capital Gains Tax allowance (CGT) reductions announced by Chancellor Jeremy Hunt in November’s Autumn Statement could have a significant impact on investors. 

Business

The importance of cash flow for tourism businesses

With the busy Christmas period approaching, businesses operating in the hospitality and tourism sector will be dealing with increased demand.

Business

Small businesses gearing up for a bumper Christmas 

Small businesses expect to make two-thirds of their yearly revenue over the festive period. 

Business

Business goals – how should you keep track of your performance?

Business goals are vital to future success but it is equally as important to keep track of how your business is performing.

Business

Company name or trading name – what is the difference?

What’s in a name is a question often asked. Well, quite a lot actually when it comes to establishing a business.

Business

Furnished Holiday Let Tax: What do you need to know?

If your property qualifies as an FHL, it is classed as a ‘trade’ by HM Revenue & Customs (HMRC), meaning you are entitled to various tax advantages.

Business

How the cloud has made an impact on UK business 

The impact of the “cloud” cannot be overestimated and has revolutionised the way we do business in the UK and the rest of the world.

Business

What you need to know when setting up a business

There is much to consider when setting out, including funding, staffing, strategies, sales, marketing and financial forecasts.

Business

Is your business going for growth? What you need to think about

Many businesses think of growth in terms of increased sales, but it’s also important to focus on how to maintain or improve your profitability. 

Business

Don’t pay the penalty for filing late tax returns 

For those who got their 2021 to 2022 Self-Assessment wrapped up before Christmas, they can enjoy the festivities. But delay too long and miss the 31 January deadline and you risk having to pay a penalty.

Business

How cloud accounting can make your business grow  

Traditionally, accounting processes were carried out using software and spreadsheets on a desktop computer. With cloud accounting, data can be accessed from any device with an internet connection anywhere in the world. 

Business

Cut business costs to avoid dipping into savings

Business

Dealing with pay and time off for the coronation  

Business

How can your business overcome cash flow issues?

Business

How Trivial Benefits can help your workforce 

Business

Why is cloud accounting technology good for your business?

Business

How to protect your business in the cost-of-living crisis

Business

How can an app stack work for my business?

Business

What you need to consider when starting up a business

Business

Five more tax avoidance schemes named by HMRC

Business

Getting started with cloud accounting

Business

How to handle an overdrawn director’s loan account

Business

Be aware of your taxation responsibilities when trading with cryptoassets

Business

Industry bodies call on Government to reform Apprenticeship Levy

Business

Businesses need to be prepared for changes to business rates from April

Business

New income tax relief eligibility rules for those working from home

Business

How to navigate your first year as a business

Business

The clock is ticking to review your National Insurance record

Business

What should you consider when starting your own business?

Business

How you can improve your business performance

Business

How do I grow my business internationally?

Business

Spring Budget 2023

Just a few days short of the third anniversary of the first Covid lockdown, Chancellor Jeremy Hunt rose to the Despatch Box to deliver the first full Budget to have taken place in 504 days and the first unaffected by the immediate impact of the pandemic since October 2018.

Business

Supreme Court rules roof replacement company must pay £2.5 million VAT bill

Business

Wildlife attraction loses appeal over HMRC VAT bill

Business

Thousands of construction firms suspected of pandemic loans fraud

Business

Capital allowance – Changes for plant and machinery expenditure

Business

Don’t forget about P60 forms

Business

Financial considerations of building a new brand

Business

Tips and tricks for maintaining your cash flow

Business

Making Tax Digital for Tax Self-Assessment – How it affects you

Business

Better Business Day and what it means for start-ups and SMEs

Business

What do you need to know about Capital Gains Tax?

Business

Social value strategies and the benefits for your business

Business

How to handle taxes if you are self-employed

Business

Quarterly VAT return and payment deadline approaching

Business

Tips for launching a seasonal business

Business

R&D tax relief rates – Have your plans adapted to the recent changes?  

Business

The benefits of outsourcing payroll in the tourism industry 

Business

The benefits of grant funding for your business

Business

What are the different types of car financing?

A range of car financing options are available for individual buyers and businesses alike.

Business

Voluntary National Insurance contributions deadline extended to April 2025

Business

Hybrid company cars: What do you need to know?

Hybrid cars offer several benefits, such as lower emissions and reduced fuel consumption. But did you know hybrid cars can also provide tax incentives?

Business

The importance for businesses of avoiding tax fraud

Business

Cloud accounting – Is it the way forward for businesses?

Business

Cost management for your business – What can you do to save money?

Business

Understanding and navigating job expenses

Business

Are you aware of the Government’s Marriage Allowance?

Business

Understanding Inheritance Tax and gifts

Business

Preparing your business for a merger or acquisition 

Business

Adapting your business plan for the summer

Business

Tax implications to consider for business owners when paying themselves 

Business

Late payments – why they are so damaging to small businesses and how to deal with them

Business

The role of cloud accounting in modern businesses

Business

Payroll considerations when expanding your business internationally

Business

Navigating estate planning and Inheritance Tax: what you need to know

Business

Best practices for business and personal finances

Business

Cloud-powered accounting: Advancing beyond traditional cloud accounting systems

Business

Tax considerations for small business owners: Sole traders vs limited companies 

Business

Crafting success: Selecting the right business framework

Business

Management accounts – Why timing is everything 

Business

Five strategies for leveraging financial forecasting

Business

Tax reliefs business owners can claim amidst record Corporation Tax payments

Business

New VAT changes: are you ready to move into a paperless world?  

Business

How the National Living Wage increase could affect businesses

Business

How management accounts can help your business

Business

Paper VAT registration to be abolished in latest digital move

In the latest move in their Making Tax Digital (MTD) campaign, HM Revenue & Customs (HMRC) is removing paper VAT registration from 13 November 2023.

Business

Understanding loss carry-back claims

Business

Everything you should know before becoming a sole trader

Business

Becoming a freelancer – setting up a limited company

Business

Autumn Statement 2023

Business

How does your locus of control influence entrepreneurial success?

Business

National Insurance: What are the changes and how do they affect me? 

Business

Understanding Capital Gains Tax on property investments

Business

An overview of Personal Tax – what do you need to know?

Business

Implications for businesses amid soaring pension tax relief

Business

Twelve Days of Tax Tips

Business

How to keep your clients happy and grow your business 

Business

Employers must be ready for upcoming changes to pay in 2024

Business

Allowable business expenses – simple ways to save money

Business

Future-proof your SME – Follow our handy tips for 2024

Business

Navigating the Capital Gains Tax annual exemption reduction – a reminder of what you need to know

Business

Here’s how you can boost your SME’s efficiency and beat rising costs in 2024

Business

Management buyouts – The tax perspective

Business

Attention UK Taxpayers – do you understand the 500T tax code?

Business

Why should your SME produce management accounts? 

Business

Making Tax Digital – Your questions, answered

Business

I am hiring my first member of staff – how do I set up payroll? 

Business

Higher rate taxpayer? How to prepare for the end of the tax year

Business

Companies House is changing – are you prepared?

Business

Do you employ part-time workers? Here’s how their holiday entitlement calculation system will change 

Business

Government Gateway to be replaced with single login system

Business

Spring Budget 2024

Business

I’m not VAT registered; can I claim VAT back? 

Business

Prepare your payroll – the upcoming changes 

Business

Funding for growing businesses – Obtaining and managing private investment

Business

Can you make a negligible value claim for unquoted shares? 

Business

Plan a little, achieve a lot – Destress with effective tax planning

Business

Why is it so important to separate your personal and business finances?

Business

HMRC has clarified tax rules on commuting for hybrid and remote workers

Business

Everything you need to know about Patent Box

Business

What should you consider when starting a seasonal business?

Business

Concerned about Capital Gains Tax changes? Here’s what you need to know.

Business

Comparing the tax differences between Furnished Holiday Lets and furnished residential lets

Business

Earning between £100,000 and £150,000? Your tax return is changing

Business

How an accountant can help to build a high-performing team

Business

Is incorporation still the way to go for solid financial planning?

Business

What is the Flexible AI Upskilling Fund?

Business

Are you optimising profit extraction from your business? 

If you’re a business owner of a limited company, it’s important that you know how to make the most of your after-tax profit to support your personal financial health – known as profit extraction.  

Business

What is more suitable for scalability? In-house or outsourced accounting

Business

Key factors to keep in mind before launching your business

Business

Six simple ways to cut your business costs

Business

Cloud right caret

Cloud-powered accounting: Advancing beyond traditional cloud accounting systems

Cloud

Cloud accounting isn’t right for my business! We disagree.

Cloud

Making MTD for ITSA easier for landlords

Cloud

Compliance right caret

HMRC asks sole traders to correctly report SEISS grants or “repay in full”

Sole traders who have not correctly reported their Self Employment Income Support Scheme (SEISS) grants may be forced to repay them in full, it has been warned.

Compliance

Making Tax Digital – what you need to know ahead of 2022-23

From April 2022 all VAT-registered businesses need to comply with MTD for VAT. MTD applies to taxpayers who file Income Tax Self Assessments for business or property income of more than £10,000

Compliance

Real-time online sanctions tracker to assist importers and exporters

Any business involved in international trade, whether importing, exporting or part of the supply chain supply to those firms, is faced with a rapidly changing regulatory environment.

Compliance

Can a business fund a garden office and what are the drawbacks?

As the debate over home working, returning to the office or some form of hybrid working plays out in the wake of the pandemic, some novel, but still workable solutions have come to the fore, including the garden office.

Compliance

HMRC taking a hardline approach over suspect R&D claims

The tax authority has been sending thousands of letters to taxpayers probing potential dishonest activity and claims, which has provoked alarm over possible criminal action.

Compliance

Survey shows taxpayers are still unprepared for Making Tax Digital switchover

A new survey on Making Tax Digital (MTD) shows taxpayers have an alarming lack of readiness and enthusiasm for the changeover and a lack of awareness that MTD for Income Tax begins in less than two years.

Compliance

‘Umbrella’ contracts firm loses £11m tribunal case against HMRC

A company has lost an £11 million dispute with the taxman over whether contract construction workers were entitled to claim travel costs tax-free.

Compliance

Prepare your payroll – the upcoming changes 

Compliance

Why should you use the HMRC app? 

Compliance

Economy right caret

Small businesses call for Government support to tackle climate change

According to new research, many are addressing energy usage, increasing recycling and investing in microgeneration, but only a third of those have a formal plan to tackle climate change within their business.

Economy

Hospitality bosses develop new strategies to cope with staff shortages

Hospitality business owners have responded positively to the staff shortages caused by the pandemic, by increasing wages and implementing improved staff retention strategies.

Economy

Everything you need to know about the new WTO Services Domestic Regulation

New World Trade Organisation (WTO) rules are set to cut the cost of global trade by billions of pounds every year, it has been announced.

Economy

Brexit Freedoms Bill to be brought forward

The Brexit Freedoms Bill will be brought forward to “cut red tape” and improve trading conditions for British businesses, it has been announced. The new laws will make it easier to amend or repeal outdated “retained EU law” to support international growth.

Economy

Brexit: have your say on the future of customs

The Government is calling on businesses, traders and the public to have their say on the future of customs. The call for evidence comes after the introduction of full customs controls in January this year, forcing thousands of traders to change the way they do business.

Economy

UK Single Trade Window to save traders time and money in wake of Brexit

The Government is planning to build a central hub to “encompass everything traders do” to support businesses in the wake of Brexit. Known as the Single Trade Window, the digital service will allow international traders to input all of their import and export data in one place.

Economy

Brexit: new competition rules to replace retained EU laws

The Government is set to repeal EU laws that discourage “efficiencies, investment, and innovation” and replace them with regulations that work for British businesses, it has been announced. 

Economy

International trade: UK moves into second and final phase of accession to join CPTPP

The UK has moved into the second and final phase of accession to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), it has been announced.

Economy

Industry leader says economy will be hit by removal of diesel rebate

The removal of the red diesel rebate in April will have a major impact on the economy, a leading construction business organisation has claimed, and called for the measure to be deferred.

Economy

Brexit: UK exports to single market fall amid “unstable” trading environment

UK exports to the European Union have fallen by almost £20 billion since leaving the single market in 2021, a major study has revealed.

Economy

Post-Brexit customs rules eased to allow aid to flow to Ukraine

The Government has relaxed customs rules for goods heading to Ukraine after aid donations to the embattled country were held up due to Brexit confusion. The rules have been eased after post-Brexit bureaucracy left lorries with supplies meant for Ukraine stuck at the border in Dover for days.

Economy

£1.1m training fund gives helping hand to UK exporters

British exporters are being offered a helping hand with a training and consultancy package to help them boost their businesses. They are being given access to a £1.1 million programme to help them trade more effectively overseas.

Economy

How the Spring Statement will affect businesses and individuals

The Chancellor’s Spring Statement has attracted a mixed reaction, with some tax changes going ahead, some promised later and a hoped for move on VAT in the hospitality sector not appearing.

Economy

Divided opinion over the introduction of new border import controls

The Independent news website earlier this week that the Government is exploring a delay to new controls on imports from the EU because of growing alarm over the cost of living crisis.

Economy

Big fall in businesses exporting to EU ‘caused by Brexit red tape’

Industry experts said the fall is due to the extra red tape UK businesses must now comply with when exporting to the EU.

Economy

Setting up in the EU – An alternative solution to Brexit trade challenges?

Many businesses are still trying to get to grips with the new and changing EU-UK trade rules more than two years on from Brexit. However, a growing number of UK companies are trying an alternative approach – setting up in the EU.

Economy

What impact are Brexit rules having on EU-UK trade?

According to the latest LSE Centre for Economic Performance study, imports from the EU to the UK fell by a quarter relative to those from elsewhere in 2021

Economy

Ports consider legal action after border controls delayed again

Further delays on border controls at UK ports caused by Brexit have led to some of the country’s biggest ports threatening to sue the Government.

Economy

Post-Brexit row over Northern Ireland sparks trade war fear

The UK Government has announced it will introduce a new law to change the post-Brexit trade deal for Northern Ireland, known as the Northern Ireland Protocol.

Economy

British science projects hit by Brexit row with EU

The EU is preventing British scientists from joining the €95 billion (£80 billion) Horizon Europe research funding programme.

Economy

Exports have still not recovered to pre-Brexit levels says survey

UK exports to the EU are still significantly below pre-Brexit levels, according to the Office for National Statistics (ONS).

Economy

Home Office facing probe over post-Brexit EU resettlement scheme

The Home Office is under investigation over whether it has fulfilled its obligations to EU citizens in this country who are seeking settled status.

Economy

How can tourism businesses achieve Net Zero?

Whilst the Government has outlined its plan to be Net Zero by 2050, your business should have a plan in place to lower its carbon footprint.

Economy

Tourism Tax – Will it help or hamper small tourist businesses?

Firms that signed up to take part in a four-day working week trial have reported the scheme is going well at the halfway point.

Economy

Chancellor implements basic rate tax cut a year early

Millions of workers will be paying less Income Tax from April next year.

Economy

Late payments add to the costs burden for SMEs

Small businesses, or SMEs, are the lifeblood of the country and their financial stability is a major factor in keeping the economy moving

Economy

Funding right caret

Funding for growing businesses – Obtaining and managing private investment

Funding

Key factors to keep in mind before launching your business

Funding

Investment right caret

Funding for growing businesses – Obtaining and managing private investment

Investment

MTD right caret

Making MTD for ITSA easier for landlords

MTD

SME right caret

Adapting your business plan for the summer

SME

Research and Development tax relief changes 

SME

Late payments – why they are so damaging to small businesses and how to deal with them

SME

The role of cloud accounting in modern businesses

SME

Payroll considerations when expanding your business internationally

SME

Navigating estate planning and Inheritance Tax: what you need to know

SME

Best practices for business and personal finances

SME

Cloud-powered accounting: Advancing beyond traditional cloud accounting systems

SME

Tax considerations for small business owners: Sole traders vs limited companies 

SME

Crafting success: Selecting the right business framework

SME

Five strategies for leveraging financial forecasting

SME

New VAT changes: are you ready to move into a paperless world?  

SME

How the National Living Wage increase could affect businesses

SME

How management accounts can help your business

SME

Paper VAT registration to be abolished in latest digital move

In the latest move in their Making Tax Digital (MTD) campaign, HM Revenue & Customs (HMRC) is removing paper VAT registration from 13 November 2023.

SME

Understanding loss carry-back claims

SME

A look at the scalability of in-house vs outsourced accounting 

SME

Everything you should know before becoming a sole trader

SME

Becoming a freelancer – setting up a limited company

SME

How does your locus of control influence entrepreneurial success?

SME

Understanding Capital Gains Tax on property investments

SME

How to keep your clients happy and grow your business 

SME

Employers must be ready for upcoming changes to pay in 2024

SME

Allowable business expenses – simple ways to save money

SME

Future-proof your SME – Follow our handy tips for 2024

SME

Here’s how you can boost your SME’s efficiency and beat rising costs in 2024

SME

Management buyouts – The tax perspective

SME

Attention UK Taxpayers – do you understand the 500T tax code?

SME

Why should your SME produce management accounts? 

SME

Making Tax Digital – Your questions, answered

SME

I am hiring my first member of staff – how do I set up payroll? 

SME

How will the R&D tax relief change in April? 

SME

Higher rate taxpayer? How to prepare for the end of the tax year

SME

Companies House is changing – are you prepared?

SME

Do you employ part-time workers? Here’s how their holiday entitlement calculation system will change 

SME

Government Gateway to be replaced with single login system

SME

I’m not VAT registered; can I claim VAT back? 

SME

Cloud accounting isn’t right for my business! We disagree.

SME

Prepare your payroll – the upcoming changes 

SME

Funding for growing businesses – Obtaining and managing private investment

SME

Plan a little, achieve a lot – Destress with effective tax planning

SME

Making MTD for ITSA easier for landlords

SME

How do accountants support small businesses?

SME

HMRC has clarified tax rules on commuting for hybrid and remote workers

SME

Everything you need to know about Patent Box

SME

What should you consider when starting a seasonal business?

SME

Concerned about Capital Gains Tax changes? Here’s what you need to know.

SME

Comparing the tax differences between Furnished Holiday Lets and furnished residential lets

SME

How an accountant can help to build a high-performing team

SME

Is incorporation still the way to go for solid financial planning?

SME

What is the Flexible AI Upskilling Fund?

SME

Are you optimising profit extraction from your business? 

If you’re a business owner of a limited company, it’s important that you know how to make the most of your after-tax profit to support your personal financial health – known as profit extraction.  

SME

What is more suitable for scalability? In-house or outsourced accounting

SME

Tax right caret

Understanding tax obligations for charities

Tax

Navigating estate planning and Inheritance Tax: what you need to know

Tax

Tax considerations for small business owners: Sole traders vs limited companies 

Tax

Tax reliefs business owners can claim amidst record Corporation Tax payments

Tax

New VAT changes: are you ready to move into a paperless world?  

Tax

Paper VAT registration to be abolished in latest digital move

In the latest move in their Making Tax Digital (MTD) campaign, HM Revenue & Customs (HMRC) is removing paper VAT registration from 13 November 2023.

Tax

Understanding loss carry-back claims

Tax

A look at the scalability of in-house vs outsourced accounting 

Tax

Everything you should know before becoming a sole trader

Tax

Understanding Capital Gains Tax on property investments

Tax

An overview of Personal Tax – what do you need to know?

Tax

Implications for businesses amid soaring pension tax relief

Tax

Twelve Days of Tax Tips

Tax

Employers must be ready for upcoming changes to pay in 2024

Tax

Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers

Tax

Navigating the Capital Gains Tax annual exemption reduction – a reminder of what you need to know

Tax

Warning to all taxpayers – Pay your taxes on time amidst rising interest rates

Tax

Management buyouts – The tax perspective

Tax

Attention UK Taxpayers – do you understand the 500T tax code?

Tax

Making Tax Digital – Your questions, answered

Tax

Five Self-Assessment deductions you didn’t know you could claim 

Tax

How will the R&D tax relief change in April? 

Tax

Higher rate taxpayer? How to prepare for the end of the tax year

Tax

What do you need to know about Marriage Allowance? 

Tax

Government Gateway to be replaced with single login system

Tax

I’m not VAT registered; can I claim VAT back? 

Tax

Funding for growing businesses – Obtaining and managing private investment

Tax

Can you make a negligible value claim for unquoted shares? 

Tax

The new tax year is starting – don’t let your taxes stress you out! 

Tax

Plan a little, achieve a lot – Destress with effective tax planning

Tax

Making MTD for ITSA easier for landlords

Tax

Everything you need to know about Patent Box

Tax

Concerned about Capital Gains Tax changes? Here’s what you need to know.

Tax

Comparing the tax differences between Furnished Holiday Lets and furnished residential lets

Tax

Earning between £100,000 and £150,000? Your tax return is changing

Tax

Is incorporation still the way to go for solid financial planning?

Tax

What is the Flexible AI Upskilling Fund?

Tax

Are you optimising profit extraction from your business? 

If you’re a business owner of a limited company, it’s important that you know how to make the most of your after-tax profit to support your personal financial health – known as profit extraction.  

Tax

Tax Planning right caret

Almost 800,000 tax scams reported to HMRC in past 12 months, figures reveal

Nearly 800,000 tax-related scams were reported to HM Revenue & Customs (HMRC) in the past 12 months, a major study has revealed. According to the report, HMRC responded to 797,010 referrals of suspicious contact from the public in the last year. Around 358,000 of these involved scams where taxpayers were offered bogus tax rebates.

Tax Planning

Be aware of tax liabilities if you are using cryptocurrencies

For those who have dabbled in the market, its important for them to understand that there may be tax liabilities with Captial Gains Tax and Income Tax, with any transactions whether with currency or other crypto assets.

Tax Planning

Did you use a Bounce Back Loan to cover personal expenses during the pandemic? Act now to avoid tax consequences

If you received a Bounce Back Loan (BBL) during the coronavirus pandemic and took the cash as drawings, there may be additional tax consequences.

Tax Planning

Tax cut and Employment Allowance rise comes into effect

Due to the increase of the employment allowance, smaller companies will be able to claim up to £5,000 off their employer National Insurance Contributions (NICs).

Tax Planning

Be prepared if you decide to adopt a working from home policy

So, it seems sensible that both employers and members of staff take full advantage of any tax breaks or allowances available for those not in the office.

Tax Planning

How to minimise Inheritance Tax bills as house prices surge

More and more people are being drawn into paying Inheritance Tax (IHT), as the price of property soars.

Tax Planning

Britons lose millions in penalty charges as they cash in LISAs

Millions of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charges.

Tax Planning

Tax credit claimants reminded of deadline as 33,600 use new app

As the deadline for renewing tax credits approaches, HM Revenue & Customs (HMRC) has revealed that 33,600 people have used their new app to renew.

Tax Planning

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.

Tax Planning

9 Tax Saving Tips for Company Directors

For those who do not want to pay more taxes than they are legally obliged to, here are some methods that the government has made available to you.

Tax Planning

Tax year basis reform: Should I change my year-end?

In the first blog of this series on tax year basis reforms, we will be discussing the new rules that will affect how unincorporated businesses are taxed from 2023/24.

Tax Planning

Furnished Holiday Lets – What tax reliefs are available?

The UK has seen a boom in the ownership of Furnished Holiday Lets thanks to the increase in staycations.

Tax Planning

Back to basics: Job expenses

Expenses incurred by employees are generally the responsibility of the employer.

Tax Planning

Homebuyers make savings as stamp duty thresholds rise

For those homebuyers facing higher mortgages, changes to Stamp Duty Land Tax (SDLT), or stamp duty, announced in September’s mini-Budget will ease some of the pain.

Tax Planning

The significance of ‘One To Many’ letters from HMRC

Letters have been sent out to individuals listed as ‘Persons of Significant Control’ (PSC), urging them to check and, where necessary, correct their tax returns.

Tax Planning

More people to be caught by higher income tax bands

Nearly three-quarters of a million more people are likely to be caught by the 40 per cent income tax bracket from next April.

Tax Planning

Implementation of MTD for ITSA delayed for two years

The delayed implementation of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) means it will now be phased in from April 2026 for a smaller number of businesses, rather than the original launch date of April 2024

Tax Planning

Don’t pay the penalty for filing late tax returns 

For those who got their 2021 to 2022 Self-Assessment wrapped up before Christmas, they can enjoy the festivities. But delay too long and miss the 31 January deadline and you risk having to pay a penalty.

Tax Planning

Thousands file tax returns on Christmas Day 

Tax Planning

Significant number of those who file a Self Assessment tax return are over 65

Tax Planning

Be aware of your taxation responsibilities when trading with cryptoassets

Tax Planning

The clock is ticking to review your National Insurance record

Tax Planning

Are you making the most of pension contributions?

Tax Planning

Voluntary National Insurance contributions deadline extended

Tax Planning

How does the additional (45p) rate of Income Tax work?

Tax Planning

Get ready for ‘Awful’ April

Tax Planning

New year, New Tax rises

Tax Planning

Personal Tax: A Beginner’s Guide

Tax Planning

How to handle taxes if you are self-employed

Tax Planning

Quarterly VAT return and payment deadline approaching

Tax Planning

Early Self-Assessment tax returns are on the rise 

Tax Planning

The deadline for Voluntary National Insurance contributions is approaching

Tax Planning

Voluntary National Insurance contributions deadline extended to April 2025

Tax Planning

Capital Gains Tax – what is it, how does it work, and what do I need to do about it?

Tax Planning

Understanding tax on foreign income

Tax Planning

New VAT changes: are you ready to move into a paperless world?  

Tax Planning

An overview of Personal Tax – what do you need to know?

Tax Planning

Implications for businesses amid soaring pension tax relief

Tax Planning

Twelve Days of Tax Tips

Tax Planning

Employers must be ready for upcoming changes to pay in 2024

Tax Planning

Warning to all taxpayers – Pay your taxes on time amidst rising interest rates

Tax Planning

Five Self-Assessment deductions you didn’t know you could claim 

Tax Planning

How will the R&D tax relief change in April? 

Tax Planning

Higher rate taxpayer? How to prepare for the end of the tax year

Tax Planning

The new tax year is starting – don’t let your taxes stress you out! 

Tax Planning

Plan a little, achieve a lot – Destress with effective tax planning

Tax Planning

Is incorporation still the way to go for solid financial planning?

Tax Planning

VAT right caret

Paper VAT registration to be abolished in latest digital move

In the latest move in their Making Tax Digital (MTD) campaign, HM Revenue & Customs (HMRC) is removing paper VAT registration from 13 November 2023.

VAT

I’m not VAT registered; can I claim VAT back? 

VAT