Limited Companies vs Self-Employment: Is it Still Worth it with All the Changes in Taxation? There’s no question that being your own boss and running your own business has its appeal. It’s a dream that many people strive to achieve, but with all the...
With the Spring Budget just recently announced by Chancellor Jeremy Hunt, we have put together a summary to highlight the key points that may affect you and your business. In his first Budget to Parliament, the Chancellor set out a plan to halve inflation, grow the...
We have noticed that HMRC has started to get a bit overzealous when it comes to adjusting tax codes for taxpayers with complicated affairs. They are making adjustments to PAYE tax codes to collect tax in advance on things like dividends or if you are a higher rate...
We often get new clients who haven’t declared their rental income to HMRC because they didn’t realise they had to or they thought they’d not made any profit, and so didn’t need to make a return. It’s a common misconception that the mortgage repayment is a deduction...
On top of the move to Making Tax Digital (MTD) and the need for VAT registered businesses to use MTD compliant software, HMRC is introducing a new penalty regime for late payment of VAT. This new regime will apply for VAT return periods starting on or after 1 January...
Loading... Taking too long? Reload document | Open in new tab Download here! [526.96 KB] Summary OBR Forecast for inflation 9.1% in 2022, and 7.5% in 2023. Unemployment at 3.6% today, forecast to rise to 4.9% 2024. Tax The top rate of tax will be lowered from...
