Pre-April tax planning reminder The new tax year starts 6 April 2023, so you have a couple of months to consider your options, once we pass this date the majority of the tax planning options for Income Tax and Capital Gains Tax purposes will cease unless actioned before the 6 April. Do you fall into […]
Remaining resilient in a shrinking economy Despite a small growth in the economy in November of 0.1%, the UK has been struggling under the weight of high inflation and rising borrowing costs. Most economists are predicting a contraction in the economy in the next six months. Conditions are likely to remain challenging for businesses and […]
Energy Bills Discount Scheme: help for businesses and other non-domestic customers The Government has announced a new Energy Bills Discount Scheme (EBDS) from April 2023 to April 2024 for eligible non-domestic consumers in Great Britain and Northern Ireland. The current Energy Bill Relief Scheme announced in September comes to an end in March 2023. It […]
2023 – A year for resilience? Firstly, we wish all our clients a healthy and prosperous New Year! In 2022, despite the troubles with the economy, we have been amazed at the resilience of our clients and how they have energetically moved their businesses into new areas, products and services. Many of our clients have […]
Looking for some new year business ideas? If you are looking for some new business ideas, then ask us for a copy of our guide called “57 Ways to Grow Your Business”! Our publication is packed full of bright ideas for the Serious Entrepreneur and starts with the four basics of growth. All the ideas in […]
Ministers to review late payments to small businesses Earlier this month, the business secretary Grant Schnapps announced a government review into tackling late payments for small businesses, while also urging large companies to pay their smaller suppliers promptly. Small businesses routinely suffer from late payments from businesses they supply, which can lead to cash flow […]
Thinking long term is a key business strategy We were finally getting over the financial crisis when Covid struck. Then, in the trough of the worst economic downturn in 300 years, we discovered that recovery was driving the FTSE to new heights and the job market into a frenzy. In the wake of that, it became […]
HMRC is changing how they assess profits for some sole traders and partnerships How HMRC assesses profits for sole traders and partnerships who use an accounting date between 6 April and 30 March will change from 6 April 2023. This change will not affect companies. Your accounting date is the last day of the period […]
Get ready for new VAT penalties from 1 January 2023 For VAT periods starting on or after 1 January 2023, HMRC is replacing the default surcharge with separate penalties for late returns and late payment of VAT. At the same time, HMRC is introducing a new approach to charging interest on late-paid VAT. The new points-based system for […]
