HM Revenue & Customs (HMRC) recently announced that Inheritance Tax (IHT) receipts were up by £200 million between April to July 2023, making this a record high.
Read More »Navigating estate planning and Inheritance Tax: what you need to know
As a small business owner, you are probably familiar with the term ‘Self-Assessment’. While many entrepreneurs link Self-Assessment primarily with the yearly tax ritual, it offers a lot more.Read More »Self-Assessment benefits for small businesses
In today’s digital age, the way businesses manage their finances has seen a seismic shift, largely due to the introduction and growing popularity of cloud accounting.
Read More »The role of cloud accounting in modern businesses
Directors might opt to either lend money to or borrow from their own company. This type of transaction is called a director’s loans, and they are recorded in the Director’s Loan Account.
Read More »Understanding Director’s Loan Account (DLA) and the risks involved
For business owners, understanding depreciation is not just about accounting practices but also about handling their taxes efficiently. Read More »What tax implications can come with depreciation?
In December 2022, the plans for Making Tax Digital for Income Tax Self-Assessment changed again, as the Government announced that instead, MTD ITSA would be introduced in mandatory phases from 6 April 2026, as opposed to 2024.
Knowing your charity’s obligations to HM Revenue & Customs (HMRC) is important, as you will have different requirements to standard businesses.
Collections of Capital Gains Tax (CGT) reached a record £16.7 billion in the last tax year, a notable increase from the preceding year’s £14.3 billion.Read More »Capital Gains Tax for SMEs – Recent trends and compliance
Running a successful business in the UK is a challenging yet rewarding endeavour.
Read More »Top tips for being a successful business owner amid financial challenges
Starting your own business can seem daunting, especially when it comes to finding funding.
Read More »Everything you need to know about Government Start Up Loans
