Vector,Illustration.businessmen,Are,Negotiating,Against,The,Background,Of,The,Calendar.the

Can I claim Employment Allowance for my business?

Feb 22, 2024

The Employment Allowance is a means for SMEs to reduce the tax burden of employing staff at critical points in their growth and help avoid cash flow crises, via a reduction in National Insurance Contributions (NICs). What is the Employment Allowance? The ...

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HMRC U-turns on its double cab pickups tax decision

Feb 20, 2024

HMRC surprised all taxpayers who own a double cab pickup as a company vehicle on 12 February by announcing that these vehicles would be classified as cars and not vans, which would have led to higher National Insurance Contributions (NICs) ...

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Acc A (15.02.24)

Loophole closed: Pickups are now classed as cars (NOT vans)

Feb 15, 2024

A dispute between Coca-Cola and HM Revenue & Customs (HMRC) has closed the loophole that previously defined double-cab pickups as vans and now means they will be classed as cars. Historically, a double-cab pickup with a payload of one tonne (1,000kg) ...

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Starting a business: the complete checklist

Feb 13, 2024

The UK economy is built on SMEs and innovative entrepreneurs.   In 2022/23, over 800,000 new businesses were registered nationwide, an increase of 6.4 per cent on the previous period. SMEs are significant contributors to wider economic health and their continued existence ...

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Acc A - 08.02.24

Understanding payroll responsibilities for apprentice wages

Feb 08, 2024

Managing payroll effectively is crucial, especially when it involves apprenticeship wages. Employers must adhere to government regulations to avoid potential fines, penalties and disputes. If your organisation runs an apprenticeship scheme, it is important to understand their specific pay requirements and ...

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Investing in skills – Why SMEs should embrace apprenticeships

Feb 06, 2024

Alternative routes to employment are in the National Apprenticeship Week spotlight this week. Do you think apprenticeships are right for your business?  Apprenticeship opportunities are far more diverse and accessible for businesses than many people think.   We’re going to lift the veil ...

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Government to change tax law twice before election – How to prepare

Feb 01, 2024

The Chair of the Conservatives, Richard Holden, has said that there could be two more changes to UK tax law before the election – which is expected to be called in the latter part of this year. The Guardian reported: “Rishi ...

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Attention UK Taxpayers – do you understand the 500T tax code?

Jan 31, 2024

The 500T tax code in the UK is a temporary, non-cumulative code used by HMRC when they lack information. They use this code to assign a standard tax code, usually in new employment, complex tax situations, or as an emergency measure. HMRC’s ...

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Management accounts – Why SMEs should embrace regular reporting

Jan 30, 2024

Consistent financial reporting needs to be a core part of your financial strategy to ensure sustainable business growth. Naturally, year-end accounts will form the backbone of your reporting – but, for a full picture, don’t stop there. To properly carry out your ...

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New payrolling of Benefits-in-Kind (BIK) system: A guide for SMEs

Jan 25, 2024

From April 2026, small and medium-sized businesses will be required to report and pay taxes on employee benefits like company cars and accommodation directly through their payroll software. This change eliminates the need for separate paperwork and simplifies the process. Ultimately, the ...

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