HM Revenue & Customs (HMRC) has recently issued letters to restaurant and takeaway businesses across the country, emphasising the importance of correctly applying VAT on hot food. This move comes amidst potential confusion amongst business owners regarding the varying VAT rates ...
READ MOREInheritance Tax (IHT) can be a sensitive and uncertain topic when discussing with loved ones, but it is something that cannot and should not be avoided. Let’s explore the basics of Inheritance Tax, along with how it impacts your finances so ...
READ MOREAccounting standards that impact businesses’ financial reporting are prone to the odd reshuffle every now and then, so it is important for business owners to stay informed. One such standard is International Accounting Standard 32 (IAS 32), which plays a key ...
READ MOREAs we approach the 31 January 2024 tax return deadline, it's crucial for sole traders, to be well-prepared and aware of your obligations. Below, we outline some practical steps to help you navigate the complexities of the Self-Assessment tax return, a ...
READ MOREBetween the 2020/21 and 2022/23 tax years, there was a 21 per cent rise in tax investigations into SMEs, highlighting the fact that HM Revenue & Customs (HMRC) has ramped up its interest in this area. With this in mind, compliance ...
READ MOREFor small businesses navigating the Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative, tax returns can be complex. The new HM Revenue & Customs (HMRC) app seeks to make the process easier, however. The digital tool marks a significant shift ...
READ MOREWith a General Election looming on the horizon, Jeremy Hunt rose to deliver his second Autumn Statement as Chancellor in the knowledge that his latest measures could have a substantial impact, not only on the future economic success of the nation but ...
READ MOREThe current economic climate is less than favourable for small and medium-sized enterprises (SMEs). Due to this, it is important for SMEs to continually seek innovative and efficient ways to fuel their growth and overcome financial challenges. One innovative solution that has ...
READ MOREHis Majesty the King's speech, at the state opening of Parliament, is a significant event for businesses and financial professionals who rely on Government regulation to function effectively and within the law. Last week’s speech outlined the Government's legislative agenda, signalling ...
READ MOREThe Department for Business and Trade has recently released feedback on two major consultations concerning payroll and holiday entitlements. Changes in holiday entitlement calculation The Government has opted against adopting a 52-week reference period for holiday entitlement. Now, the calculation of holiday entitlement ...
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