How to capitalise on the Government’s AI push
24 Feb 2025
In January, the Government unveiled its Artificial Intelligence (AI) Opportunities Plan, outlining how the UK hopes to shape the AI trajectory by driving economic growth, enhancing public services, and creating new job opportunities while ensuring AI benefits society. While there
Will a minimum wage rise trigger unexpected student loan repayments?
24 Feb 2025
From 1 April 2025, the National Minimum Wage will rise to £12.21 per hour (an increase of 6.7 per cent), meaning rising employment costs for businesses. For graduates, higher earnings can trigger student loan repayments, a factor you should consider
Received a ‘One to Many’ letter recently?
24 Feb 2025
HM Revenue & Customs (HMRC) has recently issued One to Many (OTM) letters to private equity businesses and estate agents. These letters can be sent to any business and usually highlight HMRC’s focus on compliance, urging you to review your
Budgeting for the unknown – Contingency strategies and tips for businesses
24 Feb 2025
No matter how well-prepared you may think you are, things will not always go to plan. It could be a sudden shift in the market, supply chain disruptions, unexpected repairs to your office or equipment, or even a personal emergency.
Optimising your credit control policies to deal with chronic late payers
24 Feb 2025
Despite repeated calls for reform, the Government has shown little support for tackling chronic late payments, leaving businesses to fend for themselves. One effective solution is to tighten your credit control policies to manage the issue. Strengthening credit control A
Fur and finance – Tax compliance in animal sales
24 Feb 2025
If breeding and selling animals has turned into a source of income for you, you need to make sure your earnings are declared correctly to HM Revenue & Customs (HMRC). You can earn up to £1,000 annually from casual trading
Is 2025 your year to incorporate? Here are our top tips
16 Jan 2025
Nearly 900,000 companies were incorporated in 2024 – an 11.2 per cent increase compared to 2023. More entrepreneurs are recognising the benefits of limited companies. The advantages of limited companies include limited personal liability, mitigated taxation and greater exposure to
What are the risks with directors’ loans?
16 Jan 2025
A director’s loan is money taken out of a company by a director that is not a salary, dividend, expense reimbursement or money that has previously been paid into or loaned to the company. A record of money borrowed or
Sole traders – Is there a benefit to van ownership?
16 Jan 2025
As a sole trader, it is only natural to look for opportunities to save money and maximise your earnings. One effective strategy is to consider buying a van, as sole traders can benefit from tax deductions on business-related expenses through
Confusion on savings interest – HMRC weighs in
16 Jan 2025
HM Revenue & Customs (HMRC) has clarified that if your earnings from interest exceed £10,000, tax may apply depending on the account type. This clarification came when a customer reached out to the tax authority on X to see if
