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Basis Period Reform

Basis Period Reform:
Will it affect your business?

Tax Planning

Wednesday 5 April 2024 sees the end of the current Tax Year. Following the Chancellor's continued plans to freeze and in some case reduce Tax-free allowances, it's more important than ever to make the most of some timely Tax planning.

Spring Budget 2024 – Highlights

Yesterday, Jeremy Hunt gave what could be the Conservative Party’s last Budget before a General Election and possibly his last as Chancellor of the Exchequer. He claimed the Spring Budget 2024 aimed to halve inflation, reduce debt and grow the economy.

What happens if you can’t pay your tax bill?

If you are a taxpayer and you are concerned that you cannot pay your tax bill on time, you have the option to set up an online “time to pay” arrangement with HMRC.  This means you can spread the cost of you tax bill over a period of 6-12 months, helping improve cash flow.

Misinformation around tax on ‘side hustles’

It was widely and incorrectly reported last week (w/c 8 Jan), that new reporting rules for digital platforms was…

Changes to National Insurance contributions – 6 January 2024

In his 2023 Autumn statement the Chancellor’s giveaway came in the form of a cut to National Insurance rather…

One month to go…

Self-Assessment deadline 31st January Countdown for 5.7 million customers to file their tax return With less than a month…

Scottish Budget 2024/25

The Scottish Budget plans for 2024/25 were announced by the new Scottish Finance Secretary, Shona Robison, on 19 December 2023 and included a new income tax band for higher earners in Scotland.

Why leave the future to chance…

In simple terms when we talk about business succession we mean the long-term plan for the business. In practice, it is difficult to cover all of the taxation and accounting issues surrounding succession in business across the generations in one short article, but here goes . . .

Self-Assessment Tax Returns – don’t be hanging on the phone

5 reasons Self-Assessment customers don’t need to wait on hold

Autumn Statement 2023

Yesterday, Chancellor Jeremy Hunt delivered his Autumn Statement. We have sifted through the details and hope the following highlights, which we feel will be the most significant to our clients, will be helpful.

What does your tax code mean?

HMRC has released a new tool to assist with understanding what a tax code means, how it is made…