Unleash the power of generative AI: A potential game-changer for your business
As accountants, we understand the importance of leveraging technology to drive efficiency and innovation in business operations. In this article…
Is your business Disability Confident?
New Disability Confident guidance has been published to help managers recruit, retain, and foster the progression of disabled people and…
Have you checked your tax code?
Prior to the tax year starting each 6 April, HM Revenue and Customs (HMRC), will issue new tax codes to…
Flooding support fund for farmers opened
It has been a difficult winter for many farmers with flooding and extreme weather damaging agriculture and property and equipment.…
Crackdown on retail crime anticipated
The Home Office have reported that the Prime Minister has set out tough new actions that will provide better protection…
New R&D tax relief guidance available
For accounting periods beginning on or after 1 April 2024, a new merged scheme for research and development tax credit…
Safety notice issued on thermites
The Health and Safety Executive (HSE) have issued a safety notice about the manufacture, storage and carriage of thermites and…
What can you do to recover a hacked account?
Losing access to any of your digital accounts can be very stressful, and if it’s an account you need for…
Thinking of buying another business? What due diligence should you consider?
When in business, it’s not uncommon to be approached by another business with a view to you buying the business…
April is Stress Awareness Month
The Health and Safety Executive (HSE), via their Working Minds campaign, has declared April Stress Awareness Month. Work-related stress is…
Are training costs tax deductible for the self-employed?
HM Revenue & Customs have recently updated and clarified their guidance on training costs paid by the self-employed. The general…
What is the future for the National Minimum Wage?
The Low Pay Commission (LPC) has published a report on the future of the National Minimum Wage beyond 2024. In…
Farmers encouraged to keep everyone safe around livestock
The Health and Safety Executive (HSE) have reminded farmers to stay safe around livestock, not just for themselves and their…
Food inflation slowing down according to BRC
The British Retail Consortium (BRC) has released figures showing that food price inflation in March has slowed to its lowest…
UK artists to benefit from new UK-Australia Free Trade Agreement
As a result of a new UK-Australia Free Trade Agreement (FTA), UK artists will now be able to claim resale…
Good bookkeeping: A backbone of business success
Keeping your accounting records up to date can feel like a chore, but when your bookkeeping is kept up to…
Increase in Child Benefit rates
HM Revenue & Customs (HMRC) have confirmed that Child Benefit rates increased on 6 April 2024. A family with one…
Could the VAT Annual Accounting Scheme be good for your business?
VAT-registered businesses normally submit their VAT returns and payments to HM Revenue and Customs 4 times a year. However, HM…
New measures to ensure food production remains the primary purpose of farming
In a bid to reinforce how vital food production is to farming, new measures have been unveiled to restrict how…
How should you respond to a cyber incident?
The National Cyber Security Centre (NCSC) has recently published a guide for CEOs (and by extension all business owners) on…
CMA reviewing deal between Vodafone and Three
Last year, Vodafone UK and Three UK announced a joint venture deal that would bring their customers under a new,…
Payroll reminder – minimum wage rates increase on 6th April
It is important to remember that the minimum wage pay rates are increasing with effect from 1 April 2024. Failing…
Payroll reminder – National Insurance rate reducing from 6 April
From 6 April 2024, the 2% cut in employee national insurance contributions will come into effect. Employees will now be…
Internal audit – is it just for big business?
In the world of small and medium sized businesses, where every decision can make or break success, the role of…
Restaurant owner jailed as government continues crackdown on Covid bounce back loan fraud
In a stern move against loan fraud, Ilhan Kekec, the owner of a Turkish restaurant, was sentenced to two-and-a-half years…
HAPPY NEW TAX YEAR
Welcome to our latest monthly tax newswire. We hope you enjoy reading this newsletter and find it useful. Contact us…
Shareholder Agreements for limited companies: What you need to know
When there are several shareholders, a new company is being formed, a shareholder wants to pass their shares or pass…
Increase to small company thresholds
Thresholds based on a company’s accounts and employee numbers determine whether a company is categorised as small or not. Being…
Employers – Are you ready for the new tax year?
The new tax year begins on 6th April and for employers running monthly payrolls, the March pay run will be…
Major reforms to apprenticeships announced
The Prime Minister, Rishi Sunak, has announced reforms to apprenticeships that will enable up to 20,000 more apprenticeships and could…
Have we heard the death knell for national insurance contributions?
The original concept for national insurance contributions (NICs) was as a part of social welfare reforms implemented by the government…
HMRC announces and then halts changes to helpline services
Last week, HM Revenue and Customs (HMRC) announced changes to its helpline services that will encourage people to go online…
New fining guidance published by the Information Commissioner’s Office
The Information Commissioner's Office (ICO) has released some new data protection fining guidance showing how it decides to issue penalties…
Bank of Japan increases base rate for the first time in 17 years
Last week, the Bank of Japan raised its key interest rate to a range of 0.0%-0.1% from -0.1%. The move…
Car finance complaints being assessed by FCA
The Financial Conduct Authority (FCA) have said that they are assessing the extent of a pre-2021 problem with some car…
Farmers and land managers to benefit from payment rate increases for woodland
The Department for Environment, Food & Rural Affairs (Defra) and the Forestry Commission have announced a significant uplift in England…
Information Commissioner’s Office calls for views on “consent or pay” cookie usage model
When you browse to a website it is now commonplace to have to interact with a cookie notice where you…
Charity ordered to stop sending spam texts
Penny Appeal, a charity based in Wakefield, have been ordered to stop sending unsolicited marketing texts by the Information Commissioner’s…
2024 – The year of the SME
2024 seems to be a good year to be a small business. The UK Government is doubling down on its…
Consultation on fairer food labelling is launched
A consultation was launched last week to look at ways to make food labelling fairer and clearer. This is part…
Are you or your employees making good use of Tax-Free Childcare?
Tax-Free Childcare is available to working families to help them save on their childcare costs. However, many may not be…
New Companies House powers come into force
[Note to users – this article was originally published last week, but due to the Spring Budget taking priority it…
Redundancies – what factors should be considered?
In times of economic uncertainty or because of operational challenges, you may find your business is facing tough decisions, including…
Spring Update –Multiple Dwellings Relief taxed from 1 June 2024
Multiple Dwellings Relief (MDR) is a stamp duty land tax (SDLT) relief that is currently available if you buy two…
New Companies House powers come into force
New powers for Companies House based on the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) finally came into…
Charities given new guidance on decisions about donations
The Charity Commission has published new guidance designed to help charities when they face decisions over whether to refuse or…
In a mental health emergency – can you share staff data?
New guidance has been published by the Information Commissioner’s Office (ICO) to help employers with whether they can share staff…
Construction industry steps up efforts to combat work-related stress
The Health and Safety Executive (HSE) sponsored Working Minds campaign has announced six new partners from the construction industry. The…
Salary sacrifice: Potentially a win-win strategy for your business and your employees
Business and employees are both constantly looking for ways to optimise their financial strategies. One often overlooked strategy in doing…
Spring Budget – Reduction in capital gains tax higher rate
A couple of changes were made to capital gains tax (CGT) allowances and tax rates in the Spring Budget that…
Spring Budget – VAT registration threshold increases
The thresholds for VAT registration and deregistration have remained static for the last 7 years, however an increase in the…
Spring Budget – High-Income Child Benefit Charge changes mean benefits for more
The High Income Child Benefit Charge (HICBC) has attracted a lot of criticism since its introduction because of the way…
Spring Budget – Furnished Holiday Lettings regime to be abolished
If you run a holiday let, then you are likely well aware of the useful tax advantages that holiday lets…
Spring Budget – National insurance cuts – what they mean to you as a self-employed business
The Spring Budget further extended the national insurance cuts first announced in last year’s Autumn Statement, bringing good news to…
Spring Budget – National insurance cuts – what they mean to you as an employer
The national insurance cuts in the Spring Budget have made most of the Budget-related headlines. So, what is the effect…
Spring Budget – A budget for long-term growth?
Jeremy Hunt, Chancellor of the Exchequer, delivered his Spring Budget 2024 speech on 6 March 2024. This potentially is the…
Tax E-News – Budget 2024
On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that the government must…
Are you ready? Carers Leave Act comes into force from 6 April 2024
The Carer’s Leave Act comes into force on 6 April 2024, which will affect all employers in the UK. If…
Cyber security: Evolving tactics from Russian state-linked cyber actors
The UK’s National Cyber Security Centre have highlighted the evolving tactics of Russian state-linked cyber actors. NCSC has noted that…
Customer service at HM Revenue and Customs reaches new low
According to MPs, phone line waiting times for HM Revenue and Customs (HMRC) continue to worsen. A committee found that…
Making Tax Digital: New policy paper published
A new policy paper has been released by HM Revenue and Customs (HMRC) on Making Tax Digital for Income Tax…
Addressing loneliness among young employees
The UK government has launched a campaign to address the stigma around loneliness with young people. Research shows that 16-to-24…
Director of care home investment scheme fraud banned
Robin Forster, the director of two companies involved in operating an unauthorised care home investment scheme has been banned from…
Financial handbook for independent training providers released
David Withey, Chief Executive of the Education and Skills Funding Agency (ESFA) has written to independent training providers in receipt…
Additional protection now available for UK food and drink sold in Japan
A total of 37 Geographical Indications (GIs) gained formal protection last week as part of a deal agreed between Japan…
Are you eligible for a £252 saving on your tax bill?
With the tax year ending on 5 April, March is a good month to check whether sharing unused tax allowances…
Understanding the pros and cons of the VAT Flat Rate Scheme for businesses
Value Added Tax (VAT) is a significant consideration for businesses. It impacts your cash flow, the amount of admin work…
Resources on learning to export
The Department for Business & Trade has made available learning resources for businesses to help with what is involved with…
Cuts to National Insurance: Reminders about changes
In November 2023’s Autumn Statement, the government announced some National Insurance (NI) changes. Some of these changes went into effect…
The Body Shop goes into administration
The latest casualty of the difficulties hitting the high street is The Body Shop, which entered administration on 13 February…
Are you getting minimum wage payments right?
Last Tuesday, the government named and shamed 524 businesses for failing to pay the minimum wage to their staff. These…
Update expected to the Code of Practice on requests for flexible working
The Advisory, Conciliation and Arbitration Service (ACAS) has released a final draft of a new Code of Practice on requests…
Companies House fees to increase from 1 May 2024
Companies House have reviewed the fees they charge and have released details of the new charges that will apply from…
The twin-cab pickup makes a U-turn: What happened?
In an announcement made on 19 February, the government confirmed that twin-cab pickup vehicles with payloads of 1 tonne or…
Exploring tax implications: Limited company vs Sole Trader
When starting a business, or indeed as an established business, choosing the most suitable legal structure for your business is…
Nature benefits from new legal requirement for developers
All major housing developments in England are now required to deliver at least a 10% benefit for nature. This Biodiversity…
Sustainable Farming Incentive receives thousands of applications
The Department for Environment, Food & Rural Affairs (Defra) has announced that more than 10,000 farmers across England have applied…
A reminder for businesses on waste recycling responsibilities
A Buckinghamshire-based company has recently made the news, not for their innovative products or services, but for their failure to…
What’s your policy on scanning QR codes?
Since the COVID lockdowns, QR codes have become increasingly commonplace as a quick way to direct people to websites, to…
New trade and investment partnership with Nigeria
Last week the UK signed an Enhanced Trade and Investment Partnership with Nigeria to boost trade and investment between the…
HMRC warns about an increase in tax refund scams
HM Revenue and Customs (HMRC) are warning that fraudsters could focus on Self Assessment taxpayers. With the tax return filing…
Violence and abuse towards shop workers increases to 1,300 incidents a day
A crime survey carried out by the British Retail Consortium (BRC) shows a 50% increase in levels of violence and…
Some self-catering holiday let owners being asked to provide trade information
The Valuation Office Agency (VOA) is contacting the owners of some self-catering holiday lets. The lets in question are ones…
Inflation stays flat
Official figures were released last week showing that inflation remains at 4% in the year to January. Energy prices have…
Customer satisfaction index drops: how can you avoid the same in your business?
The Institute of Customer Service published its latest UK Customer Satisfaction Index (UKCSI) figures for January 2024. The Index has…
Navigating recession: Key considerations for your business
The Office of National Statistics released official figures last week showing the UK is now officially in recession. Gross domestic…
Next generation broadband coming to a location near you?
The UK government has announced the signing of six new contracts that will allow suppliers to connect businesses and homes…
New digital labelling legislation cuts red tape
UK businesses are welcoming new legislation that introduces digital import labels. The legislation aims to reduce red tape and cut…
Data sharing powers to continue following statutory review
The Digital Economy Act 2017 gave the government data sharing powers that allow it to combat fraud committed against the…
Unlocking efficiency and growth: The benefits of cloud accounting
In business, staying ahead of, or at least up with, the curve is crucial for success. Over recent years, one…
Bounce Back Loan fraudster sentenced
Salih Ozhot from North London has been given a suspended prison sentence of 2 years for applying for a Bounce…
Guidance for small businesses using online services
The National Cyber Security Centre have issued some new guidance on “Using online services safely.” To avoid having to set…
New Economic Crime Unit to tackle financial crime in the waste sector
A new Economic Crime Unit has been launched by the Environment Agency. Its role is to tackle money laundering and…
How to recognise tax scam phone calls, emails and text messages
HM Revenue and Customs (HMRC) have recently published updated their guidance on how to identify tax scams made by phone,…
Year-End Tax Planning: Maximising benefits for your business
We are now within the final two months of the tax year, and for many businesses, the end of the…
Launch of 2024 Business Council
Business Council. The Council is comprised of leaders from FTSE 100 companies to small and medium-sized businesses. It will meet…
January 2024 Labour Market Overview highlights
The latest Labour Market Overview by the Office for National Statistics (ONS) showed the following highlights for the final months…
AI Opportunity Forum members now appointed
AI continues to be high on the agenda in business and UK government policy. Members for a new forum, the…
ICO Targets Non-Compliant Advertising Cookies: A Call to Action for Website Owners
The Information Commissioner's Office (ICO) is intensifying its efforts to ensure compliance with data protection laws regarding advertising cookies, targeting…
No final decision yet on a digital pound
The Bank of England and HM Treasury have published their response to a consultation on a digital pound that was…