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.
Focus on bottom line
Most dictionaries define “bottom line” as “the most important thing to consider”. In financial circles it’s taken to mean a ...
Company accounts filing – don’t be late…
It’s the directors’ responsibility to file their company’s accounts, and make sure they’re filed on time. It’s important to understand ...
What now, following the Autumn Statement
In some respects, the Chancellor’s predicament is deserving of a sympathetic ear; its as if he has a long journey ...
Summary of Companies House changes
The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023. The new Act provides Companies House ...
Tax relief for R&D intensive SMEs
In the Autumn Statement it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will ...
Enterprise Investment Scheme investee businesses
The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies to raise finance by offering a range ...
Corporation Tax marginal rate
The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023 ...
NIC changes for employees from 6 January 2024
In the recent Autumn Statement, the Chancellor announced a significant change to National Insurance contributions (NIC) for employees. There will ...
NIC changes for the self-employed
In the recent Autumn Statement, the Chancellor announced two important changes to National Insurance contributions (NIC) for the self-employed. The ...
Directors’ duties and responsibilities
To be a director, you must be over 16 and not currently disqualified. As a director your responsibilities include: filing ...
Gifts of shares to minor (under 18s) children
The settlement legislation seeks to ensure that, where a settlor has retained an interest in property in a settlement, the ...
What counts as holiday accommodation?
HMRC’s VAT Notice 709/3 entitled 'Hotels and holiday accommodation' explains how supplies by hotels and similar establishments such as motels, ...
The badges of trade
The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a ...
Income Tax – £5,000 savings zero rate band
If you have taxable income of less than £17,570 in 2023-24 tax year you will have no tax to pay ...
CGT – Lettings relief
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family ...
IHT – Giving away your home before you die
The majority of gifts made during a person's life, including gifting a home, are not subject to tax at the ...
Autumn Statement Summary
The Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons. The government continues ...
Fuel price watchdog sharpens its teeth
UK motorists will be protected at the pumps under tough new powers that will shine a light on any attempt ...
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