Redundancies expected to rise this year – what you need to know
The latest official figures show that redundancies are on the rise this year. Expected redundancies are up from 22,525 in June to 23,975 in July, based on the number of HR1 forms filed to HMRC....
Back to work means it’s time for business development
For most people the summer holidays will be firmly in the rearview mirror by now and they will be starting to focus on the year ahead. One way to make sure next year will be one to remember is by...
ECL now open online for registrations and returns
Any regulated businesses that need to sign up for the Economic Crime (Anti-Money Laundering) Levy (ECL) can now both register and make returns via the online service. Registrations and returns...
Alcohol duty changes – what it means for pubs, stores and small brewers
Up to 38,000 pubs and bars which have seen cuts in the tax they pay on the draught products they serve will be better off thanks to changes to the way that Alcohol Duty is calculated from August 1,...
Deed of assignments won’t be treated as nominations for income tax
The ability to legally assign an income tax repayment, or the right to an income tax repayment, to a third party has been removed by HMRC from March 15 this year, meaning any repayment will remain...
Pension tax overpayments – £56m returned in Q2 2023 alone, so here’s how to claim
People making the most of flexible pension withdrawals have been facing tax overpayments due to miscalculations by HMRC. In Q2 2023 alone, the taxman repaid £56,243,842 to people who had been taxed...
What employee perks will the taxman help you fund?
We all love a perk of the job, and a major industry has built up around the types of employee perks companies are able to offer. The best news of all is that most of these will be tax deductible,...
Reduce your company tax bill by doing a good turn
Charitable giving is something many organisations might not be considering in the current climate, especially as everyone is struggling to pay their bills. But if you have money to spare within your...
Why you must keep Companies House data up-to-date
When your business was registered at Companies House, you would have provided lots of detail about the business and the people who run it – including who are your directors, company secretary, the...
BoE base rate rises – has your business account kept up?
The Bank of England (BoE) has raised rates 13 times in a row to June this year, with the base rate reaching 5% - a level not seen since 2008 at the height of the financial crisis. Mortgage rates and...
New tax regime for sole traders and partnerships starts
HMRC is changing the way sole traders and partnerships need to calculate profits for their self-assessment returns. The Revenue will require the profits to be declared for the tax year in question,...
Keep National Insurance numbers in Apple wallets now
Do you struggle to remember – or find – your National Insurance number when you’re asked for it? If so, you’re not alone. So, it will be a relief to many that HMRC has now created a way for iPhones...
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