Large number of over 65s file Self Assessment tax return

Jan 18, 2023

The 2021 to 2022 tax year saw a considerable amount of people aged 65 and over filing a tax return. A report released by HM Revenue & Customs (HMRC) revealed that 16 per cent of individuals who submitted a tax return ...

Blog, Tax

How the personal allowance works

Dec 19, 2022

Understanding your income tax and personal allowance is important when looking at your finances and how you are taxed. Everyone has a personal allowance, but what does this mean for you? A personal allowance is the amount of money you are allowed ...

Blog, General news, SMEs, Tax

The Christmas gift allowance: how it works

Dec 01, 2022

Are you planning on treating your staff or clients this Christmas? Christmas gifts can be subject to tax, so it is important to understand these tax rules this festive season. Do gifts count as taxable income? Christmas presents paid in cash to ...

Blog, Budget, General news, Tax, VAT

Autumn Statement 2022

Nov 17, 2022

The message from the Chancellor, Jeremy Hunt, in the days before he rose to the despatch box in the House of Commons to deliver the Autumn Statement was clear; he would be outlining billions of pounds of tax rises and ...

Blog, Tax

Are you missing out on tax-free corporate investment allowances?

Nov 15, 2022

When it comes to running a business, you must keep up with the ever-changing industry you are a part of. It is important to be aware of any allowances you are missing out on, so that your company can reap the ...

Blog, Tax

Capital Gains Tax: What do you need to know?

Nov 08, 2022

Capital Gains Tax (CGT) is a tax applied on the profit you receive when disposing of an asset. You are not taxed on the amount of money you receive, but on the gain you make. For example, if you bought something for ...

Blog, Business Advice, Tax

Supporting staff through the cost-of-living crisis

Nov 01, 2022

Many UK employers are topping up pay packets of valued employees with a cost-of-living payment when they are unable to offer a pay rise. The Chartered Institute of Personnel and Development (CIPD) summer Labour Market Outlook for 2022 found that 15 per ...

Blog, Tax

Have you filed your online Self-Assessment form?

Oct 28, 2022

The clock is ticking for taxpayers, as the countdown to submit online Self-Assessment tax returns has begun. With less than 100 days to go, HM Revenue and Customs (HMRC) is reminding people that they have until 31 January 2023 to submit ...

Blog, Tax

Tax-free shopping for overseas visitors scrapped

Oct 18, 2022

Recent plans to reintroduce tax-free shopping for international visitors in the UK have been scrapped. Last month, former Chancellor, Kwasi Kwarteng reintroduced tax-free shopping as part of his mini-Budget. However, the new Chancellor, Jeremy Hunt, repealed this measure in his fiscal statement ...

Blog, Tax, VAT

Flat Rate Scheme: What do you need to know?

Oct 11, 2022

When running a business, ensuring you get VAT right is vital. So, how can you make things easier? Designed to streamline record-keeping, the VAT Flat Rate Scheme allows you to pay or claim back a simplified fixed rate of VAT to ...

Tax