In January, the Government unveiled its Artificial Intelligence (AI) Opportunities Plan, outlining how the UK hopes to shape the AI trajectory by driving economic growth, enhancing public services, and creating new job opportunities while ensuring AI benefits society. While there is still a lot we do not know about the full capabilities of AI, we […]
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HM Revenue & Customs (HMRC) has recently issued One to Many (OTM) letters to private equity businesses and estate agents. These letters can be sent to any business and usually highlight HMRC’s focus on compliance, urging you to review your practices. What are One to Many letters? OTM letters are not threatening and do not […]
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From 1 April 2025, the National Minimum Wage will rise to £12.21 per hour (an increase of 6.7 per cent), meaning rising employment costs for businesses. For graduates, higher earnings can trigger student loan repayments, a factor you should consider when managing your payroll. Graduates start repaying their student loans when their income exceeds specific […]
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Tax planning for high-net-worth individuals (HNWIs) in 2025 requires sharper focus as thresholds tighten and new changes take effect after announcements in the Budget. Staying ahead of these developments will help you maximise allowances, minimise exposure, and protect your wealth. Here are some key areas to consider. Capital Gains Tax allowances are lower than ever […]
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Chancellor Rachel Reeves announced substantial changes to the taxation rules surrounding non-UK domiciled individuals (non-doms) in October’s Budget. These changes will have a big impact on how foreign income, gains, and assets are treated. With the abolition of the remittance basis and new rules for Inheritance Tax (IHT), offshore trusts, and Capital Gains Tax (CGT), […]
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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 […]
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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 […]
Read moreAs 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 […]
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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 […]
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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. […]
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