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 […]

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 […]

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 […]

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, […]

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 […]

If breeding and selling animals has turned into a source of income for you, you need to make sure your earnings are declared correctly to HM Revenue & Customs (HMRC). You can earn up to £1,000 annually from casual trading or self-employment without needing to report it. However, once your income exceeds this threshold, you […]

Despite repeated calls for reform, the Government has shown little support for tackling chronic late payments, leaving businesses to fend for themselves. One effective solution is to tighten your credit control policies to manage the issue. Strengthening credit control A solid credit control system helps you keep payments on track. Here are some ideas on […]

No matter how well-prepared you may think you are, things will not always go to plan. It could be a sudden shift in the market, supply chain disruptions, unexpected repairs to your office or equipment, or even a personal emergency. That is why having a budget that accounts for the unknown is essential. How to […]

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 […]

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 […]