For large businesses, managing finances involves more than simply following the rules. It is about staying updated with changing laws, reducing risks, and using financial insights to support growth. The 2024 Autumn Budget introduced changes that have an impact on larger companies, making reliable audit and assurance services more important than ever. We specialise in […]

This year marks an incredible milestone for MGI Midgley Snelling LLP as we celebrate our 100th anniversary. Since Mr H.A. Snelling first began practising as a Chartered Accountant on 14 May 1925, our firm has grown from humble beginnings at 195 Strand, London, to becoming a founding member of MGI Worldwide, a leading international accounting […]

As the 2025/26 tax year approaches, it brings several significant changes to HM Revenue & Customs’ (HMRC’s) rules that will impact your business operations, financial reporting, and tax management. Here is a quick rundown of the new rules that are planned for 2025 and beyond: Basis period reform: Fully implemented by 2025, this reform changes […]

HM Revenue & Customs (HMRC) has clarified that if your earnings from interest exceed £10,000, tax may apply depending on the account type. This clarification came when a customer reached out to the tax authority on X to see if they needed to file a tax return after earning more than £2,000 in interest. HMRC […]

Taking advantage of green tax reliefs is a good way to reduce how much Climate Change Levy tax (CCL) your business pays. To get these reliefs, your business will need to operate in a more environmentally friendly way. Any business in the industrial, public services, commercial and agricultural sectors is subject to the CCL Tax. […]

As a sole trader, it is only natural to look for opportunities to save money and maximise your earnings. One effective strategy is to consider buying a van, as sole traders can benefit from tax deductions on business-related expenses through Government reliefs like Capital Allowances. Why are Capital Allowances beneficial? Capital Allowances are the tax […]

A director’s loan is money taken out of a company by a director that is not a salary, dividend, expense reimbursement or money that has previously been paid into or loaned to the company. A record of money borrowed or paid into the company must be kept – usually known as a director’s loan account […]

Nearly 900,000 companies were incorporated in 2024 – an 11.2 per cent increase compared to 2023. More entrepreneurs are recognising the benefits of limited companies. The advantages of limited companies include limited personal liability, mitigated taxation and greater exposure to investment opportunities. To help you start your journey towards limited company status, here are our […]

If you are looking to plan your exit from your business, whether for retirement or to start your next venture, we know you will want to do this in the most tax efficient way possible. Employee Ownership Trusts (EOTs) are an increasingly popular way for business owners to exit while securing the future of their […]