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Thoughtful accounting content
On our blog, you’ll find content and updates from the world of accounting, relevant to your business and thoughtfully constructed. With topics ranging from top tips on dealing with HMRC to the latest updates in Government policy, our blog has it all.
We’ll post content here regularly, so make sure to check back, or follow our social media pages so that you don’t miss a post. We like to keep our content fresh and relevant, so you feel like you’re getting the latest information directly from us.
Extracting profits from your business
Extracting profits from your business? Let’s take a look at profit extraction strategy and assess whether it is tax-efficient.
File your Tax Return for 2022/23
If you need to file your tax return for 2022/23 self-assessment and you have not already done so, you will need to file your return online by midnight on 31 January 2024 to avoid an automatic late filing penalty.
Removal of VAT on period pants, a triumph for menstrual equality or is it just PANTS?
In a landmark move towards menstrual equality the UK Government has recently removed VAT on period pants. This marks a significant step forward in the fight against period poverty and helps to ensure access to essential menstrual products for all.
Spring Budget 2024
The UK Chancellor, Jeremy Hunt, will present the Spring Budget 2024 on 6 March 2024.
Advisory fuel rates
HMRC has published the latest advisory fuel rates (AFR) for company car users, which applies from the 1st December 2023. The rates for some petrol engines and all vehicles with diesel engines increased by 1p per mile
January deadlines
January deadlines are fast approaching and taxpayers must undertake various tasks, such as filing returns and paying tax, by certain dates. If these deadlines are missed, HMRC may charge late filing and late payment penalties. What are the January deadlines and key dates?
New year, new personal financial planning
The new year marks the start of new beginnings, so there’s no better time to revisit your personal financial planning strategy.
Should you incorporate?
If you are thinking of setting up a business, or if you operate as a sole trader, you may be considering the question, should you incorporate?
NIC changes January 2024
NIC changes were announced in the Autumn 2023 Statement and as a result the main rate of Class 1 NIC payable by employees will reduce from 12% to 10% from 6 January 2024
HMRC target Crypto Assets
In a strategic move to combat tax avoidance within the cryptocurrency world, HMRC unveiled a strategic and targeted campaign on 29 November 2023 on Crypto Assets. The HMRC initiative urges cryptocurrency investors to proactively address any outstanding tax liabilities they may have.
Fuel scale charge – repaying fuel for private travel
Fuel scale charge – to be effective in eliminating the tax charge on fuel for private travel in a company car, the employee must ‘make good’ the cost of all fuel for private journeys in the tax year.
When is tax advice, not tax advice?
When is tax advice, not tax advice? We believe the answer is when it’s given by ChatGPT! Harber v HMRC [2023] TC09101 is probably the first reported case of this kind in the UK.
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