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9
Jan

Dividend

  A step by step Dividend guide on how to pay and process for companies and their owners.   At a Glance: If you are a shareholder, your company may distribute its profits to you by way of a dividend. Paying a Dividend has to follow a proper legal process otherwise the dividend will be illegally paid. An illegal dividend

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9
Jan

When Is The Spring Budget 2023

  When Is the Spring Budget 2023? The Chancellor Jeremy Hunt has announced he will deliver his Spring Budget 2023 on 15th March 2023. In a written statement he said: “I can inform the House that I have asked the Office for Budget Responsibility (OBR) to prepare a forecast for March 15 2023 to accompany a Spring Budget. “This forecast,

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9
Jan

Cost Of Living Payments

  In the Autumn Budget 2022 statement, the Chancellor announced a new Cost of Living Payments support package for 2023.  The Department for Work and Pensions have now announced when the 2023/24 support payments will be paid.  The Cost Of Living Payments are designed to help vulnerable households. We take a look at who is eligible, and when they are

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23
Dec

Tax-Deductible Christmas Gifts

Tax-Deductible Christmas Gifts & Expenses Accounting for Christmas Cards Cards are a festive tradition, although lots of organisations may choose to send digital greetings to minimise paper wastage – it is worth noting – if you decide to send cards, these can be recorded as a Tax-Deductible Christmas Gift and expense. Worth noting, that any charitable donations or contributions to

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21
Dec

Tax-Free Childcare

  HMRC are reminding families to sign up for their Tax-Free Childcare. Families could save up to £2,000 a year towards their childcare costs.  HMRC is urging thousands of other families to not miss the chance to save up to £500 every 3 months, or £1,000 if their child is disabled. Families can sign up to Tax-Free Childcare to help pay

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21
Dec

Phased Mandation of MTD

Phased Mandation of Making Tax Digital for ITSA   Following a government announcement on 19th December 2022, Self-Employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA). The mandatory use of software is therefore being phased in from April 2026, rather than April 2024.   From April 2026, self-employed individuals

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20
Nov

Autumn Budget 2022

Autumn Budget 2022 The Autumn Budget 2022 has finally been announced by Jeremy Hunt on 17th November 2022 following a two-week delay and weeks of chaos following his predecessors’ announcements. It has been anticipated that the Autumn budget 2022 would feature a number of tax increases and budget cuts.  From council tax bills and energy bills, to income tax rates

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21
Oct

Mini Budget Where are we now

Mini Budget – Where are we now?    Following a mini budget announcement that rocked the markets, the government made a dramatic u-turn.  That mini budget has since had further u-turns, not to mention the latest turnaround in Prime Minister and Chancellor – it’s a struggle to keep up!   Where are we now? On the morning of 17 October,

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10
Oct

Mini Budget U-Turn

Mini Budget U-Turn A dramatic mini budget U-Turn was witnessed last week. The Chancellor is reversing the plan to scrap the 45p top rate of income tax announced at the end of September in the Mini budget. This decision comes after several Tory MPs voiced their opposition to the proposed plan. Why? The government had been planning to borrow money

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26
Sep

Start-Up Business Loans

  Start-Up Business Loans The Start-up Business Loans scheme launched in 2012 is being extended according to Prime Minister Liz Truss and Jacob Rees-Mogg.  An £884m loan scheme for new businesses is to be greatly expanded, delivering much needed finance to the UK’s array of innovative start-ups, Start-up Business Loans offer support and funding to new businesses that have been

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