Tax savings by giving money away?
Do you make payments under “gift aid”? You may make regular direct debits to your favourite charity, or you may do one-off sponsorships e.g. a charity walk or parachute jump. You will probably be asked If you want to make the payment under Gift Aid. By doing so, the charity can benefit by more than […]
Why you should prioritise tax planning before the tax year ends
Save tax and improve your cash flow As the UK tax year-end approaches on 5 April, it’s an excellent time for you to review your business finances and explore tax planning opportunities, particularly if you are self-employed. Tax planning can help you to reduce tax liabilities, boost your cash flow and put you […]
Has your Christmas party exceeded HMRC rules? Check now!!
A limited company is a separate legal entity from the individuals that own the shares. Any trading receipts belong to the company and directors should not just “help themselves” to the funds, in the same way as is possible if trading as a sole proprietor or partnership. There are various methods of extracting the funds, […]
Crackdown on right to work checks
Are you compliant? Recent immigration enforcement activity has highlighted the need for employers to ensure their workers have the right to work in the UK. With thousands of enforcement visits, arrests, and hefty fines being issued, businesses that neglect their responsibilities risk serious consequences. Crackdown on illegal working Immigration Enforcement teams […]
What reports and business data insights would you like to see?
Every business produces data – accounting records being a prime example. Business owners will often have different ideas as to what information is, or might be, useful to them. Seeing the data in graphical, dashboard or picture form often helps too. Which do you prefer? A management reports pack full of pages and pages of […]
New safety and security declaration requirements
Are you ready? Beginning 31 January 2025, entry summary declarations are now required for goods imported into Great Britain (GB) from the EU. This extends the already existing requirements to submit entry summary declarations for imports into GB from countries outside the EU and exit summary declarations for exports to the EU. To […]
Inflation falls to 2.5%
What this means for your business Official figures released in January reveal that UK inflation fell slightly in December, down to 2.5% from 2.6% in November. While the drop is marginal, it has sparked discussion in the press as to whether this easing of inflation might prompt the Bank of England to consider […]
Planning for the future
Whatever your plans are in the future, you will need an income. How far will just the state pension of £221.20 per week take you? And do you (or can you) wait until age 66 for this to be paid? Many business owners consider their business to be their pension fund. However, not all businesses […]
Has your Christmas party exceeded HMRC rules? Check now!!
With the annual Christmas party behind us, now is the time to count the costs to ensure there is no breach of the HMRC rules. What you need to report and pay depends on: if it’s an annual event if it’s open to all of your employees if it costs more than £150 per head […]
New reporting requirements for online platforms
