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Get Ready for Changes to UK Company Law
The Economic Crime and Corporate Transparency Act became law in October 2023. Since then, Companies House have been getting ready to introduce the measures brought in by the act. Companies House have introduced the first set of changes to take effect from 4 March...
Summary of Autumn Statement 2023
Personal & employment taxes As predicted, the Chancellor announced some cuts in relation to the taxes facing individuals: National InsuranceClass 1 employees’ National Insurance contributions (NICs) to be cut by 2% from 6 January 2024 (down to 10%), meaning those...
Which Is The Right Enterprise For You – A Community Interest Company (CIC) Or A Charity?
CICs (Community Interest Companies) and charities are both legal structures that can be used if you wish to set up a social enterprise. The choice between the two is dependent on a number of factors - In this article, we've highlighted the key differences between...
When Should You Register For VAT?
Understanding VAT (Value Added Tax) and when to register for VAT is crucial for businesses as it has a significant impact on the business finances. The VAT threshold, is currently £85,000 per annum - If your annual turnover approaches this figure, you should keep an...
Self-Assessment Tax Returns – A Quick Guide
Do I Need To Complete A Self-Assessment Tax Return? Self Assessment is a system HMRC uses to collect Income Tax. For those employed, Tax is usually deducted automatically from wages and pensions. People and businesses with other income (including COVID-19 grants and...
Cash Flow Management
Keeping on top of the financial management of your business can be really difficult. Successful cash flow management is a key element to running a successful business and tackling cash flow problems head on is crucial. It's possible to have a profitable business...
The Importance of Getting Payroll Right
A business’ payroll system is fundamental in operations. Paying staff accurately and on time is the cardinal rule of payroll. Not paying employees for their work is the quickest way to upset them at a moment's notice. However, it’s not as...
Salary or Dividend for Company Owners and Directors?
For some time, it has generally been the case that dividends have offered company owners and directors a cost effective and flexible remuneration option compared to a bonus or salary. The gap between the two has narrowed in the past few years, and with the recent...
5 Common Tax Deductible Business Expenses
Incurring expenses it's unavoidable when running a business. There are ways to reduce the impact of these expenses by offsetting allowable costs against your tax bill. Here are some common expenses that are tax deductible: Expenses for staff parties and...
A Guide To Tax Efficient Staff Benefits
