Tax
Year-end tax planning strategies for #SmallBusinessSaturday
Nov 30, 2023
As 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 ...
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How SMEs should prepare for and handle tax investigations
Nov 28, 2023
Between 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 ...
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How to use the new HMRC app for your tax returns
Nov 23, 2023
For 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 ...
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Autumn Statement 2023
Nov 22, 2023
With 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 ...
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How can the Marriage Allowance save you money?
Nov 09, 2023
There are many financial and legal benefits to being married or in a civil partnership, but one of the most overlooked reasons is the potential for tax relief. This is because, thanks to the Marriage Allowance, where one partner earns below ...
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BOO-st your tax planning this Halloween
Oct 31, 2023
When it comes to tax planning, timing is everything. The end of the financial year might seem like the obvious period to get your accounts in order, but why risk a tax season rush? Halloween is near the mid-point of the tax ...
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The impact of Capital Gains Tax in estate planning
Oct 19, 2023
Capital Gains Tax (CGT) is one of those terms that often elicits a groan from private clients, but understanding its intricacies can be incredibly beneficial in the long run. CGT has, after all, a significant influence on your estate planning and ...
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What business owners need to know about meeting PAYE deadlines
Oct 17, 2023
Among the long list of financial responsibilities that you must handle as a business owner is ensuring PAYE are made on time. In October 2023, the electronic payment deadline for your PAYE tax bill falls on Sunday, 22 October. To ...
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Secure your financial future – Plan ahead and send Self-Assessment returns early
Oct 10, 2023
Recent data from HM Revenue and Customs (HMRC) reveals a significant trend - an increasing number of UK taxpayers are filing their Self-Assessment tax returns within the first week of the new tax year. In fact, the number of early filers ...
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Planning for Inheritance Tax challenges as penalties surge in 2022/23 tax year
Sep 05, 2023
While Inheritance Tax (IHT) is a topic that many find uncomfortable to discuss, it is an unavoidable aspect of estate planning. With HM Revenue & Customs (HMRC) collecting a significant £2.28 million in IHT penalties in the last tax year, it ...
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