SME recovery continues as sustainability and growth take centre stage
10 May 2024
In its latest research into the UK’s SME economy, NatWest Group has identified an encouraging trend among the country’s independent operators, as SME growth continues for the fifth consecutive month. Two sectors led the charge, as the service industry continues
P11D – Remember to report before the July deadline!
10 May 2024
With the 6 July deadline nearing, it is essential to understand the updated reporting requirements for Class 1 National Insurance Contributions (NICs) on benefits in kind (BIKs). Employers offering benefits, such as private healthcare, living accommodation, travel expenses, and company
High-income earners need to re-register for child benefit
10 May 2024
Child benefit supports parents or guardians of children under 16, or under 20 if in approved education, by contributing towards the costs of raising them. Since January 2013, the High Income Child Benefit Charge (HICBC) affects those earning above a
The rise of the higher rate taxpayer
10 May 2024
The Government continues to freeze both the personal allowance and the higher-rate income tax thresholds – leading to an increase in the number of higher-rate taxpayers this year. The result of ‘fiscal drag’ – a phenomenon where tax thresholds fail
Gratuities and tips – What the delay to the Employment (Allocation of Tips) Act 2023 means for you
10 May 2024
The Department of Business & Trade (DBT) has released the finalised draft of the Code of Practice on Fair & Transparent Distribution of Tips – the next step towards bringing the Employment (Allocation of Tips) Act 2023 (the Act) into
Preparing for the second payment on account – and what happens when you can’t pay?
10 May 2024
If you are a Self-Assessment taxpayer, it is almost time to make your second ‘payment on account’ – advance payments towards your tax bill. Those who submit a Self-Assessment tax return and owe £1,000 or more will be required to
How SMEs can benefit from £6.4 million AI training fund
9 May 2024
The Department for Science, Innovation and Technology (DSIT) has recently introduced a vital initiative targeted at small and medium-sized enterprises (SMEs) in the Professional Business Services sector.
Changing your VAT details? Remain vigilant over latest fraud activity
7 May 2024
HM Revenue & Customs (HMRC) has issued a warning to businesses over fraudulent attempts to access VAT repayments via postal form VAT484.
Is it time to scale up your start-up?
2 May 2024
Scaling your start-up is a crucial decision for business owners, as it can directly impact the business’s long-term success.
The most common VAT filing mistakes – and why MTD is the solution!
30 Apr 2024
If your business has a turnover of £90,000 or more and sells products or services subject to VAT, then you must register to pay it and file a return to HM Revenue & Customs (HMRC) – at least once every
