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Are you planning on selling your business? And let’s face it, if you’ve spent years of your life, and taken risk after risk, to launch and scale your small business,
Did you know that many UK based small businesses still aren’t aware of a great little tax free gifts benefit you can offer your employees?
It’s called a ‘Trivial Benefit’…
As a small business owner in the UK, how do you reduce your tax liability to increase your take-home pay? Is a question we are asked multiple times a year.
What’s going to happen in the 2024 budget? While we don’t have a crystal ball, IN Accountancy Tax Director Paul Brown shares his best guess…
Whether you run a limited company or are planning to incorporate, one of the key considerations is how you’ll draw income from your business. Two popular ways to pay yourself
Following the Bank of England’s reduction of the base rate of interest to 5% on 1 August, HMRC has finally announced they will follow suit, reducing the late payment interest
It’s all change at HMRC as to how tax refunds will be processed and issued: HMRC has stopped posting out automatic cheques for tax refunds, meaning individuals must now register
Over the last year UK savers have finally been in a position to earn some interest on their savings, but how is interest income taxed, and how can you maximise the tax free element of what you receive? 🤔
If you meet certain criteria or have flexibility in how you structure your income, then you can potentially enjoy up to £18,570 of your income completely tax-free!! 🥳
Are You Struggling to Meet Your Tax Obligations?
More than 30,000 UK businesses were involved in some kind of insolvency action in 2023, which was an increase of more than 50% compared with 2021 according to an article in the Guardian earlier this year.
And the economic outlook would suggest that despite the fact that we are no longer in recession, 2024 and 2025 will be a challenging year for UK small business.
With this in mind we have prepared the following guide and associated video to help you understand what your options are with regards to agreeing what is known as a ‘Time to Pay’ arrangement with HMRC.
💷 So, the FSB are in the process of lobbying HMRC to increase the VAT registration threshold to £100,000 It’s been at its current level of £85,000 since 2017, and
Advisory fuel rates are changing from quarter beginning 1 December 2023 for certain vehicles!
The rate for electric cars has been reduced to 9p per mile and hybrid cars are treated as petrol or diesel for these purposes. This reflects the slight decrease to electricity costs over recent months.
Other changes can be found in the main table
Advisory fuel rates are changing from quarter beginning 1 September 2023 for certain vehicles!
The rate for electric cars will be 10p per mile and hybrid cars are treated as petrol or diesel for these purposes. This further increase reflects the higher electricity costs faces by energy consumers throughout the country…
