Childcare Support – Your Guide to the Changes

The March 2023 Spring Budget announced some much-needed additional support for working parents of young children, which is to be phased in from April 2024. Currently, families with children aged 3 and 4 are entitled to 15 hours of free childcare per week, whether they are both working or not. Working parents can claim an … Read More

Amy FowlerChildcare Support – Your Guide to the Changes

How to reduce corporation tax

From 1 April 2023, corporation tax rates changed.  They now depend on the level of profits arising in the year. Companies whose profits do not exceed £50k will continue to be taxed at 19%. However, for companies whose annual profits exceed £250k the tax rate will increase to 25% and those with profits in the … Read More

Amy FowlerHow to reduce corporation tax

VAT: Rules & Reminders

With new penalty rules coming into force for VAT, we have put together a blog outlining these and some further reminders for VAT. New penalty rules New penalties have been introduced for the late filing or payment of VAT. They apply to VAT accounting periods beginning on or after 1 January 2023. Whilst these may … Read More

Amy FowlerVAT: Rules & Reminders

Spring budget report 2023

Report provided by ACCA The headline message from the Chancellor The Chancellor highlighted that “In the autumn we took difficult decisions to deliver stability and sound money… Today, we deliver the next part of our plan. A budget for growth… long-term, sustainable, healthy growth that pays for our NHS and schools, finds jobs for young … Read More

Amy FowlerSpring budget report 2023

Year-end tax planning for small companies

The end of the tax year is approaching, and now is an important time to be thinking about your remuneration strategy and tax planning. You will need to consider appropriate levels of salary, pension contributions and dividends, before the end of the tax year on 5 April 2023, and plan for the new one. Tax … Read More

Amy FowlerYear-end tax planning for small companies

Property Tax Focus: Non-resident landlords with property in the UK

Have you recently moved abroad and continue to own property in the UK? Or perhaps you are considering moving abroad and may rent out your house. If so, then you may be wondering what UK tax you will incur on the property. Who is a non-resident landlord? The HMRC definition of a non-resident landlord differs … Read More

Amy FowlerProperty Tax Focus: Non-resident landlords with property in the UK

Tax update: Autumn statement 17 November 2022

Last Thursday the Chancellor announced further tax changes, including the freezing of tax thresholds for an additional two years to April 2028 Here is a summary of the main announcements that may affect you: Income tax personal allowance of £12,570 and higher rate threshold of £50,270 frozen until April 2028 Main national insurance thresholds to … Read More

Amy FowlerTax update: Autumn statement 17 November 2022

New Allowance: Small Amounts of Trading and Property Income

In 2017 a new allowance was introduced to provide simplicity for those who receive small amounts of self-employed/miscellaneous income or property income. It is called the Trading and Property Allowance (TAPA) and it can be very useful when you have either earned small amounts of trading or rental income, or when your expenses amount to … Read More

Amy FowlerNew Allowance: Small Amounts of Trading and Property Income

Mini budget 23 September 2022 – Our Round Up

[UPDATE – blog edited on 4th October 2022 to remove abolishment of additional rate of income tax]   You are probably already aware that the Chancellor announced numerous significant changes on Friday, many of which will benefit small businesses, including abolishing the recent Off Payroll Working reforms. It is great to know that the lobbying … Read More

Amy FowlerMini budget 23 September 2022 – Our Round Up

Scams and how to avoid them

Author: Sharon Wright We are all aware of the troublesome rise in scams, and most of us will have experienced at least one attempt to obtain sensitive information from us over the last year. Scammers are now using more sophisticated technology, and the financial loss as a result of scams are at a record high. … Read More

Amy FowlerScams and how to avoid them