MTD for ITSA – When will you have to report and what you need to know
Oct 23, 2024
You may already be familiar with Making Tax Digital (MTD), but the extension to Income Tax Self Assessment (ITSA) is something many self-employed individuals and landlords need to start preparing for. What is MTD for ITSA? MTD for ITSA is the Government’s ...
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What impact will the Budget have on inflation?
Oct 21, 2024
As we approach the Budget, due to be announced on 30 October, one of the key concerns is the potential impact on inflation. With recent data showing a sharp drop in the UK’s inflation rate, Chancellor Rachel Reeves faces a challenging ...
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What happens if tax reliefs for SMEs and farms are cut in the impending Budget?
Oct 17, 2024
It is the world’s worst-kept secret at this point, but if you have not already heard, the Budget is approaching and is likely to be “painful”. Tax hikes are almost inevitable, and Inheritance Tax (IHT) and Capital Gains Tax (CGT) look ...
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Six months left – Are you missing out on increasing your state pension?
Oct 14, 2024
The deadline for voluntary National Insurance (NI) contributions is fast approaching, leaving you with little time to fill gaps in your NI record to maximise your state pension. HM Revenue & Customs (HMRC) has reminded taxpayers that the window to fill ...
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How to avoid Lifetime ISA withdrawal penalties from HMRC
Oct 11, 2024
Lifetime ISAs (LISAs) have become a popular way to save for a first home or retirement, offering a 25 per cent Government bonus on contributions. However, if you withdraw money for anything other than these specific purposes, you could face penalties ...
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What are the benefits and challenges of a Management Buyout?
Oct 08, 2024
The upcoming Budget could see a rise in Capital Gains tax (CGT) rates so that they align with Income Tax rates. This rumour has led to many business owners considering the sale of their business before they are subject to these ...
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What are PAYE Settlement Agreements and how can they benefit employers?
Oct 02, 2024
PAYE Settlement Agreements (PSAs) are a convenient tool for employers, allowing them to cover the tax and National Insurance contributions (NICs) on specific benefits provided to employees. These agreements simplify settling tax liabilities on minor, irregular, or impractical expenses and benefits, ...
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How SMEs can capitalise on continued optimism
Oct 01, 2024
Optimism is on the rise among small and medium-sized enterprises (SMEs) for the third consecutive year. According to recent research from banking firm American Express, nearly seven in 10 business leaders are feeling confident about the future of their companies, a ...
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IFRS S1 and S2 and the future of ESG reporting standards
Sep 26, 2024
Sustainability has become a core part of how businesses are expected to operate, whether we like it or not. You might think that all the talk about environmental, social, and governance (ESG) issues is only relevant to big corporations or public ...
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What if Inheritance Tax is affected by the 2024 Autumn Budget?
Sep 24, 2024
In our latest blog, we continue our look ahead to the 2024 Autumn Budget and how it could affect taxpayers. Today, we turn our attention to Inheritance Tax (IHT) and explore the potential changes that might arise from the Chancellor’s announcements. IHT ...
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