Maximise Profits, Minimise Taxes and Gain Invaluable Business Insights
Starting from 1st January 2023, the VAT penalty regime in the UK has undergone significant changes. The previous default surcharge has been replaced by new penalties for late submission of VAT returns and payment of VAT. These changes are designed to encourage businesses to comply with their VAT obligations in a timely manner, while providing […]
The New VAT Penalty Regime and how this may affect late submissions Read More »
A question I get asked all the time is: ‘What can I take out of my business?’ and ‘how do I save more tax?’ Well, the quick answer is, ‘there’s up to 32 ways to get value out of your business, tax efficiently.’ Yep, that’s a lot of ways ⬇️ But the truth is, not
32 Ways to Get the Maximum Value out of your Business Read More »
There’s an unspoken truth when it comes to tax advice: for business owners, there’s a complete lack of transparency from advisors over what tax advice actually is. This means as a business owner: …..you don’t know what to expect from your accountant …..you don’t know if you are getting all the advice you need But
Every business owner has a real-life number. It is everything behind the scenes, that you are working towards in your real life, things like your next house, next big investment, or your pension pot. This real-life number can and should be linked with everything that the business is working towards. It is the key to
After market turmoil and uncertainty, the new Chancellor resigned on Friday, 14th October. The new chancellor, Jeremy Hunt was appointed as his replacement. Many of the tax cuts originally announced in the mini budget have been reversed and we will outline these below. National Insurance National Insurance rates for employees and employers increased by 1.25%
The newly appointed Chancellor, Kwasi Kwarteng, announced a ‘mini budget’ on 23rd September 2022 under Liz Truss’ new Government. The mini budget was announced to set out the Governments key policies to help tackle the higher energy costs and inflation. Below we will be setting out details of the changes, which have been dubbed as
The UK mini budget – September 2022 and what it means for your business Read More »
The Chancellor, Rishi Sunak, announced the Governments Spring Statement on 23rd March 2022. We are releasing this information sheet as a summary of the changes announced. Additional information will be provided when more detailed information is released over the coming weeks. Tax Free Personal allowance The personal allowance will remain in the 2022/23 tax year
Last month, the Prime Minister Boris Johnson announced an increase to national insurance rates to help raise an extra £12bn a year for health and social care. The announcement means that all rates of national insurance contributions (NIC) and income tax on dividends will increase by 1.25% from 6 April 2022. The announcement has many
What the National Insurance Increase Means for Businesses and Their Employees Read More »
With the Self Assessment deadline looming, many self-employed individuals who have encountered a difficult year due to the COVID-19 Pandemic have been offered a reprieve. In addition to the continuation of government support available under the Self-Employment Income Support Scheme (SEISS), HMRC is also offering to make things easier for those working for themselves. HMRC
How to Setup A Self Assessment Payment Plan Online Read More »
