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Employers can opt to deal with taxable benefits in kind through the payroll (known as ‘payrolling’) rather than reporting them to HMRC after the end of the tax year on the employee’s P11D. However, this is only possible if the employer is registered to payroll the benefits. This must be done before the start of […]

Diving into self-employment and starting your own business is by no means an easy feat. With that being said, however, it does come with many benefits!  If, like many aspiring business owners, you are motivated by being your own boss but are being held back by the “where do I start?” fears, this mini-guide is

As the end of the tax year approaches, it is prudent for those operating their business as a personal or family company to review the profits extracted so far in the tax year and to consider whether it is beneficial to take further profits before the end of the tax year.  There are various ways

As the end of the tax year approaches, it is prudent to review your pension contributions for the year and consider whether it is worth making further contributions before 6 April 2024. Remember, any annual allowances brought forward from 2020/21 will be lost if not used by this date. The amount of tax-relieved contributions that

The days are getting longer…your end-of-year taxes have been filed (we hope). Now, all that is left to do is to dust off the cobwebs on your finances, so you can spring forward with confidence.  While we may be using the spring cleaning metaphor as a bit of fun, the message here is the same:

From 1 April 2025, the rates of Theatre Tax Relief (TTR), Orchestra Tax Relief (OTR) and Museums and Galleries Exhibition Tax Relief (MGETR) will be permanently set at 40% (for non-touring productions) and 45% (for touring productions and all orchestra productions). The government will remove the sunset clause for MGETR so that it becomes a

The Treasury has announced additional support for ‘independent films’ that can currently claim the Audio Visual Expenditure Credit(AVEC): the Independent Film Tax Credit (IFTC). Films that meet the IFTC qualifying criteria will be eligible for a higher rate of expenditure credit on their qualifying expenditure. The basic rate of credit under AVEC is 34%- independent

It’s safe to say that business owners are facing a unique set of challenges in today’s day and age. From the impact of inflation on business operations to the talent shortage and the rapid pace of technological change, the business landscape is more demanding than ever. The good news is, however, that as accountants, we

Attracting and retaining talent has become more challenging than ever for business owners, thanks to the ‘Great Resignation’ that has swept across the UK since the Coronavirus. As a result, this seismic shift in the job market has left many suffering with a significant talent crunch – so how can we combat this? If you,

The impact on you and your staffYou will need to ensure that all staff members are paid the increased minimum wage for their age group by this date. How much is the increase?See below for details of the updated Minimum Wages to take effect from 1 April 2024. Apply 23 and over 21 to 22