NEWS Catch up with the latest in accounting news

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Catch up on the latest news in accounting here, from cutting edge bookkeeping technology to self-assessment updates.

Self-employed must report profits on tax year basis

Self employed must report profits on tax year basis

Big changes are here for the self-employed! From 2024-25, profits must align with the tax year, replacing the old "current year basis." Overlap relief is ending, and transition profits will

Student and postgraduate loan thresholds and rates

Student and postgraduate loan thresholds and rates

From 6 April 2025, new thresholds for student loan repayments will take effect, impacting borrowers across the UK. Whether you’re on Plan 1, Plan 2, Plan 4, or repaying a postgraduate loan, here’s a

It is not always possible to mend fences – Reinstatement is not always a practicable option where there is a breakdown in employment relations

It is not always possible to mend fences – Reinstatement is not always a practicable option where there is a breakdown in employment relations

The Employment Appeal Tribunal (EAT) upheld claims of constructive dismissal and disability discrimination against Whyte & Mackay Limited (W&ML) in the case of Mr. Duployen , a former forklift

Understanding the UK’s Bank Deposit Guarantee Scheme

Understanding the UK’s Bank Deposit Guarantee Scheme

The UK government offers a robust safety net for savers through the Financial Services Compensation Scheme (FSCS). This scheme is designed to protect individuals, small businesses, and charities if a

Google to Tackle Fake Reviews Following CMA Investigation

Google to Tackle Fake Reviews Following CMA Investigation

In a significant move to enhance trust in online reviews, Google has agreed to implement substantial changes to combat fake reviews, following an investigation by the UK’s Competition and Markets

How donations to charity can provide tax relief

How donations to charity can provide tax relief

Gift Aid transforms charitable donations by allowing charities and CASCs to claim 25p extra for every £1 given—at no additional cost to you. Higher and additional rate taxpayers can also claim

Designating a property as your main residence

Designating a property as your main residence

Owning more than one property? You can claim Capital Gains Tax (CGT) relief on just one at a time. By formally electing your main residence within two years of property changes, you can optimise your

Beware false business rates warnings

Beware false business rates warnings

The 2023 Revaluation updates business property rateable values, based on April 2021 valuations. While challenges are open until March 2026, beware of false claims about earlier deadlines and

Claiming VAT on pre-registration purchases

Claiming VAT on pre registration purchases

Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods

Dealing with company unpaid debts

Dealing with company unpaid debts

Unpaid debts can put a limited company at risk of a winding-up petition, potentially leading to liquidation. Creditors may act via court judgments or statutory demands, forcing companies to settle

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