News

The rise of the higher rate taxpayer
14 May 2024

The Government continues to freeze both the personal allowance and the higher-rate income tax thresholds – leading to an increase in the number of higher-rate taxpayers this year.
Read more...

High-income earners need to re-register for child benefit
14 May 2024

Child benefit supports parents or guardians of children under 16, or under 20 if in approved education, by contributing towards the costs of raising them.
Read more...

---

P11D – Remember to report before the July deadline!
14 May 2024

With the 6 July deadline nearing, it is essential to understand the updated reporting requirements for Class 1 National Insurance Contributions (NICs) on benefits in kind (BIKs).
Read more...

---

SME recovery continues as sustainability and growth take centre stage
14 May 2024

In its latest research into the UK’s SME economy, NatWest Group has identified an encouraging trend among the country’s independent operators, as SME growth continues for the fifth consecutive month.
Read more...

---

Preparing for the second payment on account – and what happens when you can’t pay?
14 May 2024

If you are a Self-Assessment taxpayer, it is almost time to make your second ‘payment on account’ – advance payments towards your tax bill.
Read more...

---

Gratuities and tips – What the delay to the Employment (Allocation of Tips) Act 2023 means for you
14 May 2024

The Department of Business & Trade (DBT) has released the finalised draft of the Code of Practice on Fair & Transparent Distribution of Tips – the next step towards bringing the Employment (Allocation of Tips) Act 2023 (the Act) into force.
Read more...

---

Five steps to growing your business, safely
15 April 2024

There is an inherent degree of risk in any business growth strategy – but keeping this risk to a minimum can help you grow your business without sacrificing your hard work. Growing your business hinges on your ability to take calculated risks, whether that be by investing in innovation or by taking on a new member of staff.
Read more...

---

Are barriers to investment harming your productivity?
15 April 2024

A survey by the Bank of England (BoE) and the Department of Business and Trade has identified a potentially significant challenge facing SMEs on their journey towards growth. The survey’s findings indicate that investment is crucial to sustaining growth for SMEs, but that many businesses faced barriers to accessing finance to make sufficient investment in areas, such as research and development, operational improvements and recruitment.
Read more...

---

A third of UK business owners do not know their company’s value – do you?
15 April 2024

New research by Marktlink suggests that around 33 per cent of UK business owners are unaware of the value of their company – only slightly lower than the European average figure of 40 per cent. While you are not alone if this applies to you, you must know what your business is worth. Why? Let us show you.
Read more...

---

HMRC income tax receipts rise by £2 billion
15 April 2024

HM Revenue & Customs (HMRC) recently reported a £2 billion increase in income tax receipts, reflecting a strong self-assessment period and an evolving dynamic within the tax landscape. The Government's recent changes, including adjustments to National Insurance Contributions (NICs), have both mitigated and exacerbated the overall NIC burden.
Read more...