Business News

17 January 2023

A new VAT penalty system is now in effect

A major overhaul of VAT penalties came into effect on 1 January 2023. This new approach changes how penalties are applied, as well as how interest

17 January 2023

Understanding and improving your balance sheet

Keeping on top of your business’s financial health is critical to its success. A great place to start is by understanding what a balance sheet is

17 January 2023

Should I take a salary or dividends as a small business owner?

If you own a small business and are also a shareholder director, you may be wondering whether to take a salary or dividends. When it comes

17 January 2023

Tax considerations for gifting to grandchildren in the UK

For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But before entering into any gifting arrangement,

17 January 2023

Improving your business finances in 2023 and beyond

Every business needs sound financial planning and oversight in order to thrive. With the new tax year just around the corner, now is the perfect time

17 January 2023

Take advantage of the super deduction allowance – before it’s gone

Businesses are being advised that time is running out to be able to take advantage of the Corporation Tax super-deduction capital allowance scheme. This allows businesses

17 January 2023

Implementation of MTD for ITSA delayed for two years

The Government has announced a two-year delay and further changes to the rollout of its Making Tax Digital for Income Tax initiative. The delayed implementation of

20 December 2022

Income tax thresholds freeze – What it means for you

You could see your Income Tax bill increase significantly in 2022-23 because of a freeze on Income Tax thresholds announced by the Chancellor at the Autumn

20 December 2022

What is the ultimate goal of your business?

Planning for the future is essential when running a business and you should have a perspective of where you want to be in three to five

20 December 2022

R&D relief slashed – Time to plan

Chancellor Jeremy Hunt has announced a series of changes to the UK research and development (R&D) tax credit regime, including a cut to the deduction and

20 December 2022

Companies House goes fully digital

Companies House has gone fully digital after the announcement of the closure of its office in London and all filing being transferred online. It has also

20 December 2022

Be prepared for changes to Capital Gains Tax thresholds

The exemption for paying Capital Gains Tax (CGT) is changing. The CGT annual exemption will fall from £12,300 to £6,000 from April 2023, before being cut