The Chancellor, Jeremy Hunt, delivered his second Spring Budget on 6 March 2024. This Budget aimed to appeal to the taxpaying masses, with cuts to National Insurance and a rise to the threshold for VAT registration. But was it too little, too late for the UK economy? We’ve summarized the main points, so you can…
Spring Budget Update March 2024 Please do not hesitate to contact us with any queries. Personal Tax Employment Business Capital Taxes Other Matters Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor…
The days of deciding on a tax strategy at the start of the year and then forgetting about it are gone. As taxpayers and tax advisers, we both have to be nimble, flexible and aware of changes. That’s why regular tax-planning sessions are so important. – Is your business meeting the right tax compliance goals?…
It takes a lot to start a business. Few business owners start with exit in mind. You start with a dream and the tenacity to make it real, and make it grow. When do you start thinking about what you want to happen when you retire? Some business owners talk about funding a lifestyle but…
The rapid technological advancements we’re seeing are a double-edged sword for many business owners, presenting both great opportunities and potential challenges. Adopting and integrating these new technologies is essential if you want to remain competitive, but it requires careful navigation and a clear strategic plan for your tech stack. 5 key steps for transforming your…
Tired of paying rent for your commercial premises and considering buying a premises for your business? Owning a building works best if your business is well-established, you have money to invest, and you’re taking a long-term approach – it can take many years for this decision to pay for itself. The advantages of owning a…
The new year is a new beginning. If you are a business owner, this is often the time of year when you reflect on where you are at and think about your business goals for the year ahead. Setting goals is an essential part of personal and professional growth. These could be lofty goals, or…
Although inflation is now on a downward trend, the sharp cost rises over the last 18 months are baked in. Energy prices are increasing again and the overall economic outlook isn’t very encouraging. The good news is that by acting now to manage these increases you can stay on top of these costs. And with…
With a combination of low growth and high inflation, the 2022/23 tax year has been a tough time, financially speaking, for many of us. So it’s no surprise that many owners, directors and self-employed individuals are concerned about having enough funds to pay their self-assessment income tax bill. The good news is that HM Revenue…
The VAT domestic reverse charge came into operation in March 2021, introducing significant changes around how VAT is collected and paid within the construction industry. So, how does the domestic reverse charge work?: The domestic reverse charge applies to construction services in the UK, together with related materials, but not to materials supplied separately from…