It goes without saying that submitting tax payments promptly is a necessity for businesses, not only to remain compliant but also to avoid unnecessary fines and penalties.
A new Government with a five-year mandate usually means a major change to the way the UK is governed. So, what can we expect to see happening now that Labour is in power?
In recent reports, former Prime Minister Sir Tony Blair has forecasted potential tax increases that could have an impact on businesses across the UK.
The Tony Blair Institute’s chief economist predicts taxes may need to rise by 1.9 percentage points of GDP by the end of this Parliament to stabilise debt, potentially equating to over £50 billion.
As the opening of Parliament approaches on 17 July, businesses across the country are bracing for the King’s Speech, which is expected to outline the Labour Government’s legislative priorities for the coming year.
Artificial intelligence (AI) is undoubtedly a major trend in accountancy and tax, with many firms, business clients and Government agencies recognising its benefits and adopting it.
If you’re a business owner of a limited company, it’s important that you know how to make the most of your after-tax profit to support your personal financial health – known as profit extraction. Read more…
A director’s loan is a form of profit extraction from your company, often used alongside salaries, dividends and expenses. Read more…
From a tax planning perspective, incorporation of a business into a limited company has long been considered the gold standard in business development and growth – but is this still the right move?
When your business takes on a new employee, we know that you’re eager to get them settled into their role – but not before you’ve completed the right checks and set them up in your payroll system!
If you’re a high earner with between £100,000 and £150,000 in net adjusted income, you’ll soon receive a letter from HM Revenue & Customs (HMRC) regarding whether you need to continue submitting a Self-Assessment tax return.
