In a recent turn of events that could signal a positive shift in the UK’s economic landscape, a closely watched survey has revealed that UK consumers’ confidence in their personal finances has reached its highest level in over two years. According to research firm GfK, the outlook on individuals’ financial situation for the year ahead […]
In an eye-opening revelation, the latest figures for the 2020-21 tax year have showcased the immense potential of Individual Savings Accounts (ISAs) in the UK. With the largest ISA pot exceeding £11.6 million, according to a recent Freedom of Information request, and the top 25 ISA investors holding an average of £11,660,000 each, it’s clear […]
With the start of the new tax year, taxpayers can expect significant changes that will directly impact their finances in the next tax year (2024/25). If you haven’t already, it’s time to closely examine your financial planning, including savings, investments, and tax compliance. So, what changes should you be aware of from 6 April 2024? […]
From 6 April 2024, UK redundancy rules will change, particularly surrounding pregnant employees and those on family-related leave. The new legislation extends the ‘protected period’ for redundancy to 18 months after the birth or adoption placement, requiring employers to prioritise these employees for suitable alternative employment in case of redundancies. The financial impact on your […]
HM Revenue & Customs (HMRC) recently reported a £2 billion increase in income tax receipts, reflecting a strong self-assessment period and an evolving dynamic within the tax landscape. The Government’s recent changes, including adjustments to National Insurance Contributions (NICs), have both mitigated and exacerbated the overall NIC burden. This is because they encompass rate reductions […]
New research by Marktlink suggests that around 33 per cent of UK business owners are unaware of the value of their company – only slightly lower than the European average figure of 40 per cent. While you are not alone if this applies to you, you must know what your business is worth. Why? Let […]
A survey by the Bank of England (BoE) and the Department of Business and Trade has identified a potentially significant challenge facing SMEs on their journey towards growth. The survey’s findings indicate that investment is crucial to sustaining growth for SMEs, but that many businesses faced barriers to accessing finance to make sufficient investment in […]
There is an inherent degree of risk in any business growth strategy – but keeping this risk to a minimum can help you grow your business without sacrificing your hard work. Growing your business hinges on your ability to take calculated risks, whether that be by investing in innovation or by taking on a new […]
Beginning on 6 April 2024, the 2024/25 tax year is set to bring about a number of changes to the way employees are paid in the UK. If you are an employer, you should be prepared to meet new requirements and ensure that your payroll is up to date to avoid breaching new regulations. Changing […]
In this April issue we highlight some of the key tax changes that take effect from the start of the new tax year. Unfortunately, most of the income tax and national insurance thresholds continue to be frozen, resulting in an increasing number of higher rate taxpayers. The major exception is the welcome increase in the […]
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