The Institute of Chartered Accountants in England and Wales urges those planning to claim the UK state pension to check their national insurance (NI) record before 5 April 2023. Currently, voluntary contributions can be made to plug gaps back to April 2006, but this will be curtailed from April. The Tax Faculty has created a […]
Check Your National Insurance Record Before 5 April 2023! Read More »
A little bit of pre-Christmas cheer for you today. In parliament today, the treasury announced a delay to the rollout of MTD for sole traders, partnerships and landlords. Before today’s announcement, any sole trader or landlord with a total gross income of over £10,000 would have needed to keep their financial records digitally and send
MTD for sole traders, partnerships and landlords is delayed Read More »
The government is consulting on plans to simplify and modernise audio-visual tax reliefs, including film tax schemes, in the first shake-up since their introduction in 2007. It looks like HMRC will merge the four existing reliefs – film, animation, high-end, and children’s television. The consultation paper can be found here https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118361/5082_consultation_audio_visual_reliefs_reform.pdf
HMRC to Overhaul Creative Tax Credits Read More »
The Chancellor announced his Autumn Statement yesterday. We already knew that he would raise taxes and reverse most, if not all, of the Truss Budget. Indeed, the Chancellor set out his priorities as Stability, Growth and Public Services. What this means is that we are back in Austerity 2.0 mode. Oh, and inflation is still
The Autumn Statement 2022 Read More »
Talking about money is never easy, especially when you’re a small business owner. But, unfortunately, there’s no avoiding it! There will come a time when you get a client or two who disputes an invoice, and you will have to manage it in a way that doesn’t damage your relationship. You have to implement effective
6 friendly (yet effective) methods to handle invoice and payment disputes Read More »
Being a business owner comes with many challenges, especially concerning money. No more so when interest rates are rising, and the economy is in a recession. You have to have enough money to run the business and pay yourself and your employees, so you have to price your products/services correctly. Then, the biggest monetary challenge
6 Tips for Effective Credit Control Read More »
I am writing to you with more changes and reversals to the Kwarteng mini-budget that wasn’t a budget.In short, most of what he announced has been ditched by the new chancellor Jeremy Hunt.I am hesitant to say that these new announcements are going to remain. After all, we are living in “interesting times”. Things could
Update on the Mini Budget U-Turn! Read More »
The media makes pretty grim reading right now. Open any newspaper – online or the paper edition – and you could be forgiven for thinking that the UK is doomed and we are all going to hell on a handcart. In these times, it is helpful to remember the serenity prayer: God, grant me the
8 ways to have the right mindset for growth right now Read More »
On Friday afternoon, the UK Prime Minister, Liz Truss, held a press conference. Ahead of this press conference, it was announced that the Chancellor had resigned/been sacked (depending on whose version of the truth you are listening to). In this press conference, the September tax cuts promised in the mini-budget have been watered down even further. What we
UK Government U-Turn on Tax Cuts Read More »
The Bank of England predicted a 1% contraction in the economy between October and November. It has also been predicted that the UK’s GDP output will be lower in 2023 than in 2022. This means that whilst the UK is not technically in a recession; we will have very difficult trading conditions for the next
