Category: Business Advice

Autumn Statement – 17 November 2022

Autumn Statement – 17 November 2022

The Chancellor Jeremy Hunt’s Autumn Statement came against the background of a Spring Statement and a September ‘mini-Budget’ (which has now been substantially reversed). The overall context is a European recession and high inflation in the wake of the pandemic […]

getting the most from salary sacrifice

getting the most from salary sacrifice

In these straightened times, salary may be preferable to receiving a benefit. However, the attraction of salary sacrifice has increased since 6 April, and when it comes to pensions it makes sense to take a longer-term view. NIC savings Salary […]

Managing your business through high inflation

Managing your business through high inflation

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 […]

Double whammy from rising prices

Double whammy from rising prices

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 […]

Off-payroll mistakes now penalised

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 […]

Company insolvencies on an upward trend

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 withdraws P11D PDF alternative

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 […]

The Chancellor’s May economy statement: all about energy

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 […]

more disclosure on the cards for businesses

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 […]

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