Jul 24, 2023 | Information, News, PAYE, Self-Assessment
The threshold for people taxed through PAYE who are required to file a self-assessment return has increased from £100,000 to £150,000. Those affected should be contacted by HMRC if they need to change anything. That said, there have been times in the past where HMRC...
Jul 17, 2023 | Business Start Ups, Expenses, FAQ, Information, News, Self-Assessment, Tax
HMRC is changing the way sole traders and partnerships need to calculate profits for their self-assessment returns. The Revenue will require the profits to be declared for the tax year in question, rather than the accounting year as is currently the case. Any sole...
Jul 10, 2023 | FAQ, Information, National Insurance, News, Tips
Anyone with an incomplete National Insurance contributions (NICs) record between April 2006 and April 2016 now has until July 31 to add to their NICs to qualify for a full State Pension after HMRC extended the deadline. Thousands of taxpayers have incomplete years in...
Jul 3, 2023 | Business Start Ups, Covid-19, FAQ, Information, Misc, News, Tips
The pandemic brought a lot of changes to our businesses, some good and some bad. One that has continued to be a topic of conversation is the desire for more people to be able to work some, or all, of the time from home. If your business requires people to be onsite –...
Jul 1, 2023 | Information, News
BoE base rate rises – has your business account kept up? The Bank of England (BoE) has raised rates 13 times in a row to June this year, with the base rate reaching 5% – a level not seen since 2008 at the height of the financial crisis. Mortgage rates and loan...
Jun 26, 2023 | FAQ, Information, Misc, News, PAYE, Payroll, Pensions, Tips
The Chancellor made some major changes to the pension rules in the March Budget, and one key amendment has made using something called ‘Carry Forward’ rules much more beneficial for pension savers. How does Carry Forward work? The Carry Forward rules allow you...
