New Tax Year, New Numbers: Key 2025/26 Tax Changes You Should Know
With changes to allowances and tax bands, it’s more important than ever to stay informed and plan proactively. Whether you’re a business owner, landlord, or employee, the right advice can save you time and money.
Spring Statement 2025 – What it Means for You
While no major tax changes were announced, this year’s Spring Statement still holds important insights for individuals and businesses alike. From revised economic forecasts to future plans for Making Tax Digital and VAT penalties, Chancellor Rachel Reeves has outlined the government’s direction amid ongoing global uncertainty.
News Roundup March 2025
Following the Bank of England’s base rate cut to 4.5% on 6 February, HMRC will lower its late payment and repayment interest rates from 25 February.
News Roundup February 2025
Most UK businesses are optimistic about the start of 2025, with economic confidence surveys showing plans for growth following a difficult period. However, retail and hiring concerns linger. According to Lloyds Bank, 70% of businesses expect turnover to rise over the next year, up from 62% in December 2023.
Spotlight On: Understanding the Construction Industry Scheme (CIS)
A GUIDE FOR CONTRACTORS AND SUBCONTRACTORS The Construction Industry Scheme (CIS) is a vital part of the tax system for workers in construction. Whether you’re a contractor managing subcontractors or a subcontractor working on various projects, understanding how CIS works is key to ensuring compliance and managing cashflow effectively. In this guide, we’ll break down […]
News Roundup January 2025
HMRC DELAYS AGENT SERVICES ACCOUNT APPROVALS HMRC has extended the processing time for agent services account (ASA) and VAT agent reference number applications to 40 working days – eight weeks – up from the previous 28 days. This change applies from the date HMRC receives an application. Applications for an ASA must be submitted in writing, as no online […]
How You Can Avoid 5 Common Tax Mistakes Small Business Make
Tax regulations can feel daunting for small business owners. Here are five mistakes we often see and how you can steer clear of them: 1. Not Keeping Accurate Records: Failing to maintain detailed and accurate financial records can lead to missed deductions or problems with the tax authorities. How to Avoid: Set up a system […]
What Entertainment Expenses Can Your Business Claim For?
Here’s a short guide: 1. Client Hospitality and Entertainment: Generally, costs incurred entertaining clients, including meals and events, are not deductible for Corporation Tax purposes. You still need to keep detailed records as these can affect VAT claims and other financial assessments. 2. Staff Parties and Events: Costs of annual events – eg Christmas parties […]
The Beginner’s Guide to Understanding Financial Statements
We believe in demystifying finance for everyone. Today, we’re breaking down the basics of financial statements – the essential tools for understanding your business’s financial health. Why Financial Statements Matter Financial statements are the report card of a business. They tell you where the money came from, where it went, and where it’s currently sitting. […]
What’s Your Business Worth?
The value of your business is not just about numbers – it’s about your hard work, dedication, and the potential for future growth. Knowing your business’s worth is crucial when you’re: – considering selling – seeking investment – planning for the future Five Key Factors 1. Strong Financial Performance: Profitability, revenue trends, and financial health […]
