Businesses trying to cope with 9%-10% inflation face a difficult balancing act. For many there is a stark choice between potentially alienating customers by increasing prices too sharply or absorbing increased costs and risking their own survival. Staff shortages and […]
Rising prices hurt just about everyone, but small business owners face a double whammy: the impact on their own spending power, but also less revenue coming in from cash-strapped customers. The volume of retail sales fell 1.4% in March, with […]
Many individuals donate to charity simply for altruistic reasons, but this doesn’t mean the tax benefit should be ignored. With Gift Aid donations saving tax at an individual’s marginal rate, donors need to watch out for any pitfalls that might […]
The private sector off-payroll working rules have been in place since April 2021, but for the first 12 months businesses have benefitted from HMRC’s relaxed stance on penalties. HMRC will now, however, penalise mistakes made in applying the rules. HMRC […]
Although showing a slight improvement from March, the number of company insolvencies in April of this year was more than double the number from April 2021. This shows just how important it is to get advice sooner rather than later […]
HMRC has decommissioned its interactive PDF that businesses have been using to submit up to 150 P11Ds. For 2021/22, former users will instead have to turn to HMRC’s PAYE online service or use commercial payroll software. The deadline for filing […]
Economy Statement In late May, the Chancellor announced new measures to counter the rising cost of living, in particular energy prices. Source: Ofgem. Initial measures for 2022 In early February 2022, the Chancellor announced a package of measures to reduce […]
Rising prices hurt just about everyone, but small business owners face a double hit: the impact on their own spending power, but also less revenue coming in from cash-strapped customers. The volume of retail sales fell 1.4% in March, with […]
A downside to running a limited company is that financial information is publicly available. However, micro-entities and small companies do not have to file a profit and loss account, so available information is somewhat restricted. This situation is set to […]
Making Tax Digital (MTD) will become mandatory for the self-employed and landlords in 2024. Although there is no major news, a recent webinar co-hosted by HMRC has shed more light on the sign-up process, the use of spreadsheets and joining […]
Higher rate taxpayer numbers are rising sharply, and if that’s you, then advice is now more important than ever. Source: ONS data, OBR projections. There was once a time when paying tax at more than the basic rate made you […]
HMRC has published government support that is available for SMEs to access that will help you to invest and grow your business. The 5 ways you can get financial support are summarised below by HMRC and you can visit GOV.UK […]
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