News

Understanding and improving your balance sheet
16 January 2023

Keeping on top of your business’s financial health is critical to its success. A great place to start is by understanding what a balance sheet is and what it can tell you about the health of your business. Let’s look at what a balance sheet is, why it’s important, and how you can improve yours.
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Should I take a salary or dividends as a small business owner?
16 January 2023

If you own a small business and are also a shareholder director, you may be wondering whether to take a salary or dividends. When it comes to paying yourself, there are both advantages and disadvantages to each option, including potential tax savings.
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Tax considerations for gifting to grandchildren in the UK
16 January 2023

For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But before entering into any gifting arrangement, it is important to understand the various tax considerations that come with it. In this blog post, we will discuss some of the key tax implications of gifting to grandchildren in the UK.
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Improving your business finances in 2023 and beyond
16 January 2023

Every business needs sound financial planning and oversight in order to thrive. With the new tax year just around the corner, now is the perfect time to start thinking about ways you can improve your business’s finances in 2023. Read on to learn some of our top tips for making sure your business’s finances are healthy and secure.
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Take advantage of the super deduction allowance – before it’s gone
16 January 2023

Businesses are being advised that time is running out to be able to take advantage of the Corporation Tax super-deduction capital allowance scheme. This allows businesses to claim back 130 per cent on investments made in plant or machinery.
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Implementation of MTD for ITSA delayed for two years
16 January 2023

The Government has announced a two-year delay and further changes to the rollout of its Making Tax Digital for Income Tax initiative. 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 taxpayers...
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Income tax thresholds freeze – What it means for you
17 December 2022

You could see your Income Tax bill increase significantly in 2022-23 because of a freeze on Income Tax thresholds announced by the Chancellor at the Autumn Statement. While the basic (20 per cent) and higher (40 per cent) thresholds will remain at their current levels for an additional two years until 2028...
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What is the ultimate goal of your business?
17 December 2022

Planning for the future is essential when running a business and you should have a perspective of where you want to be in three to five years. Goals or targets provide a sense of direction, focus, and motivation. However, how do you set aims effectively?
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R&D relief slashed – Time to plan
17 December 2022

Chancellor Jeremy Hunt has announced a series of changes to the UK research and development (R&D) tax credit regime, including a cut to the deduction and credit rates for the SME scheme. The R&D SME scheme enhanced deduction rate will be cut to 86 per cent from the current 130 per cent, and the payable tax credit rate...
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Companies House goes fully digital
17 December 2022

Companies House has gone fully digital after the announcement of the closure of its office in London and all filing being transferred online. It has also permanently shut the public counters in Cardiff, Belfast and Edinburgh. Online services will be available 24 hours a day, seven days a week.
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