UK workers will receive a pay rise as we see higher National Minimum Wage (NMW) rates from April 2023. According to the Government, around two million of the UK’s lowest-paid workers will benefit from the rise in the National Living Wage (NLW) and NMW rates. From April 2023, the NLW will increase by £0.92 per […]

Businesses must plan for the rise in Corporation Tax (CT), coming into force from 1 April 2023, and sees the top rate of tax rising from 19% to 25% The tax applies to all profitable limited companies – from trading income or the sale of investments or assets. The new approach to Corporation Tax After

In his Autumn Budget, Chancellor Jeremy Hunt announced many R&D tax relief changes, including funding allocation, which we will see implemented in April. The rates paid by the Research and Development Expenditure Credit (RDEC) for larger firms and small to medium (SME) R&D relief schemes are changing.  Under these changes, from 1 April, the RDEC

You must check your National Insurance (NI) records to identify any payment history shortfalls if you plan to claim the UK state pension.  NI contributions, or lack thereof, can affect a person’s entitlement to the state pension in later life. A temporary window allowing people to voluntarily top up their NI contributions as far back

With the payroll year-end fast approaching on 5 April, clashing with the tax year-end, many businesses find this time of year particularly stressful.  The deadline for submitting details to HM Revenue & Customs (HMRC) is 31 May. You must be aware of the critical dates when you prepare the payroll year-end, including: 5 April –

Small business owners must avoid costly mistakes when calculating, reporting and paying Value Added Tax (VAT). The best way to prevent errors and stay on the right side of HM Revenue & Customs (HMRC) is to have an expert take care of your VAT affairs. A qualified accountant or bookkeeper can ensure that all calculations

Why do I need a business plan? Your business plan delivers the goals to work towards, helps you identify potential pitfalls, gives insight into your competitors and highlights possible opportunities. A great business plan should include a concept, strategy, executive summary, market analysis, competitor analysis, the company’s financials and a clear action plan. What is

Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) comes into effect from April 2026 for businesses, self-employed individuals, and landlords with gross business or property income over £50,000. MTD for ITSA will follow in April 2027 for those with similar incomes over £30,000.  The question? How soon should your business use cloud-based compatible software