According to Small Business, we have seen a surge in new company formations over recent years as entrepreneurs develop innovative business ideas and bring them to market.  On top of this, many workers are scaling up their “side hustles” operations to deal with customer and client demand. Many businesses initially rely solely on the founder. However, there […]

HM Revenue & Customs (HMRC) is retaining its online portal for workers to continue claiming the working from home tax relief for the 2022/23 tax year. Whilst the rules and relief value remain unchanged, far fewer people like to claim this relief.  Unless another lockdown occurs, only people instructed by their employers to work from

Throughout the pandemic, the Government has offered £79.3bn in loans to help businesses survive and invest for the future.  However, only the Recovery Loan Scheme remains open until the end of June – with no replacement lined up to take its place.  Despite the popularity and value of these loan schemes, many small businesses are concerned they

Are you or your clients making PAYE payments to HM Revenue & Customs (HMRC)? Fresh warnings are out by HMRC to remind employers to ensure that their payment reference numbers are correct so that payments are recognised. Each payment reference number relates to a specific employer and covers a particular accounting period. HMRC uses these

From 7 May 2022, HM Revenue & Customs (HMRC) will launch a new mandatory P87 form for income tax relief.  What is a P87 form? Workers and agents use P87 forms to claim employment expenses. However, only employees can claim tax rebates. If you are self-employed, you can claim via the self-assessment system. Taxpayers must

April 2023 will bring several significant changes to research and development (R&D) tax reliefs. Some businesses will find these changes positive. Whilst other changes can affect what income qualifies for R&D tax relief. Organisations need to ensure they remain compliant with new rules. Although Parliament is still considering these new measures, details of upcoming amendments

Most adults flirt with the possibility of creating their own business and becoming successful entrepreneurs. Although the pandemic may have paused this idea for many, new figures show that 13% of UK adults now run fledgling businesses. According to the research by The Global Entrepreneurship Monitor (GEM), this is the highest percentage since the late

As part of the new Health and Social Care levy, 2022-23 National Insurance (NI) and Dividend Tax rates have increased by a 1.25 percentage point as of 6 April. Many businesses are getting to grips with the added complications to the payments of National Insurance Contributions (NICs) and dividends. How have NICs changed because of

With the current economic climate of high inflation, global uncertainty, and the backdrop of war, financing a new business might seem a challenge. However, with planning, careful research and professional advice, you can find the right financial solution for you. If the traditional funding route is problematic, other forms of finance may also be a