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New employment protections
The following changes were enacted from 6 April 2024. These changes apply to England, Wales and Scotland. Northern Ireland is not included as employment law is devolved. The information that follows is reproduced from a post on the House of Commons Library at...
Opening up small company reporting
Companies House are working on detailed changes that will require small and micro sized companies to file information about their turnover and profits at Companies House. Once filed, this data will be available to anyone searching affected companies’ records at...
Boost for small business
In a recent press release, HMRC underlined the benefits to smaller businesses from the increase in the VAT registration threshold and the business rates freeze. Here’s what they said: “Small businesses have received a boost as the VAT registration threshold is raised...
A new acronym
Most readers of our posts will recognise the acronym CGT or IHT -Capital Gains Tax or Inheritance Tax. And the myriad of other taxes that affect most UK taxpayers in or out of business: IT – Income Tax NIC – National Insurance VAT – Value Added Tax But what about MTD?...
Underlying planning options for furnished holiday let owners
The Chancellor recently confirmed – as part of his Spring Budget – that the present tax advantages that owners of Furnished Holiday Let (FHL) property enjoy will be abolished from April 2025. While a deadline in a year’s time may seem a long time away, taking action...
Journey out of debt
Hopefully, this post will be of help to individuals that find themselves in debt and are struggling to keep up with repayments.It’s interesting to consider how easy it is to get into debt and how difficult to get out of debt. In times of rising prices and high...
Are you missing out on the marriage allowance?
According to HMRC, couples who are married or in civil partnerships could be due a financial boost by sharing unused tax allowances. HMRC has revealed that March is the most popular month for Marriage Allowance (MA) applications, with almost 70,000 couples applying in...
Companies House introduces changes
As we have mentioned in previous posts, Companies House have been tasked with introducing a number of changes introduced by the Economic Crime and Corporate Transparency Act 2023 (ECCT Act), that came into force on Monday 4 March 2024. Changes introduced 4th March...
Impact of the Spring Budget 2024
We all knew that the Chancellor would have restricted options when considering the contents of his recent spring budget announcement on 6 March. But it seems he has the skills after all to “play tennis” with his arms tied behind his back… Would there be a combination...
March 2024 Budget – Key Announcements
With an election looming, Chancellor, Jeremy Hunt, delivered his Spring Budget on 6 March 2024, billing it as a ‘Budget for growth’. As widely predicted there were further changes cuts to National Insurance, taking effect from the 2024/25 tax year. Other headline...