From 6 April 2025, many directors will need to report dividend income in much more detail in their Self-Assessment tax return. This change will affect an estimated 900,000 directors across the UK. HM Revenue & Customs (HMRC) will now require directors to disclose the name and registration number of the company, the highest percentage of […]
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The latest Spring Statement has left businesses in Weybridge with more questions than answers, as Chancellor Rachel Reeves failed to introduce new measures to ease the mounting financial pressures on UK companies, says leading accountancy firm MGI Midgley Snelling LLP. With rising costs, tax burdens, and increased regulatory demands, many businesses had hoped for targeted […]
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Partner Sarah Squires recently attended the KCCI Business Leaders Networking and Awards event at the America Square Conference Centre, where she had the opportunity to connect with international business leaders and explore developments in technology and AI. She shares her experience below. The KCCI Business Leaders Networking and Awards event at the America Square Conference […]
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If you are thinking about selling your business, timing could be everything. Business Asset Disposal Relief (BADR), formerly known as Entrepreneurs’ Relief, helps business owners reduce their Capital Gains Tax (CGT) liability when selling qualifying assets. However, with adjustments to BADR coming in April 2025 and April 2026, it is important to make plans for […]
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From 6 April 2025, changes to employer National Insurance Contributions (NICs) will take effect, increasing payroll costs for many businesses. If you employ staff, it is advisable to prepare now for how these changes will impact you financially. Here are the key numbers to keep in mind: Lower NICs threshold – Employers will start paying […]
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As the end of the tax year approaches, it is a good time to review your personal tax position and ensure you are making the most of available allowances. Unlike company tax planning, which can take place throughout the year, personal tax is closely tied to the tax year-end on 5 April. This makes early […]
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Upcoming changes to Inheritance Tax (IHT) will be phased in over the next two years. With property values rising and the IHT nil-rate thresholds remaining frozen until 2030, more estates will face unexpected tax bills if they fail to plan accordingly. While two years may seem like plenty of time to prepare, effective estate planning […]
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If you have had career breaks, worked abroad, or earned below the National Insurance (NI) threshold, you could have gaps in your State Pension. HM Revenue & Customs (HMRC) extended the deadline for voluntary NI contributions (NIC) to 5 April 2025, giving individuals an opportunity to fill gaps dating back to 2006. After this date, […]
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President Trump’s tariff proposals are creating uncertainty in global markets. While the UK has not been directly targeted yet, British businesses could still feel the impact of U.S. trade policies. Trump’s latest proposal to impose reciprocal tariffs on countries with value-added tax (VAT) systems, including the UK, could result in a 20 per cent tax […]
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