New HMRC service allows businesses to set up online payment plans for VAT owed
Jun 13, 2023
HM Revenue & Customs (HMRC) have recently confirmed that businesses that owe less than VAT £20,000 can now set up a payment plan online. The measure, which came into effect on 31 May 2023, is part of a wider project from ...
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Major pension reforms sparks rethink for UK savers
Jun 08, 2023
Several significant changes were announced by the Government in the 2023 Spring Budget regarding the annual allowance and the lifetime allowance. These changes affect the amount of tax-free contributions individuals in the UK can make towards their pensions, which may have ...
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Corporation Tax: Upcoming filing deadlines and reminder about recent amendments
Jun 06, 2023
Recent changes HM Revenue & Customs (HMRC) made to the rate of Corporation Tax mainly affected larger businesses in the UK. As of April 2023, companies that generate a profit of more than £250,000 during their accounting period will pay a ...
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Self-Assessment tax returns threshold to change for 2023-2024 tax year
Jun 02, 2023
HM Revenue & Customs (HMRC) has revealed plans to increase an individual’s income threshold before being required to submit a self-assessment tax return. The changes are due to come into effect from the 2023-2024 tax year. For the current tax year (2022-2023), ...
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Essential financial metrics every business owner should track
May 30, 2023
Understanding the financial health of a business is integral to its success, regardless of the industry or the size of the operation. By keeping an eye on vital financial metrics, business owners can make data-driven strategic decisions that can drive their ...
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Key factors to consider when starting a business
May 25, 2023
Setting up a new business is not merely about innovative ideas or immense passion. It also demands careful planning and research. Running a thriving business is not without its obstacles, however, the potential for rewards makes it a journey worth undertaking. It ...
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Landlords should bring UK tax affairs up to date before Renters Reform Bill is enforced in law
May 23, 2023
The Government is looking to introduce the Renters Reform Bill, which if made law, will be the biggest shake-up to housing laws in forty years. Whilst the Bill will have implications for the 11 million renters in the UK, landlords have ...
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Benefits of hiring an accountant for your start-up
May 18, 2023
Running a start-up can take its toll, with the inevitable early struggle of managing and overseeing every role within the business. Eventually, your business will start to grow, and you will find spinning multiple plates more difficult as you expand. Keeping track ...
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Strategies for SMEs: Surviving the interest rate hike
May 16, 2023
As interest rates in the UK rise, small and medium-sized enterprises (SMEs) will undoubtedly feel the pinch. Interest rate changes can be effectively managed by SMEs by reviewing and altering the financial processes within their organisations to ensure outstanding debts are ...
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What do you need to know about Income Tax?
May 11, 2023
If you’re feeling unsure about your Income Tax obligations, it's important to understand what you are required to pay, how you pay it and what to do if you haven’t paid enough or have paid too much. What is Income Tax? ...
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