The furnished holiday lettings (FHL) tax regime is set to be scrapped from April 2025, with draft legislation already on the table. If you own a holiday home, now is the time to get familiar with these forthcoming changes and consider how they could impact your tax liability. From April 2025, the tax incentives associated […]

When you’re self-employed, keeping track of essential dates and deadlines can be challenging. One crucial date to remember is 5 October 2024, which is the deadline to register for Self-Assessment. If you started working as a self-employed individual on or after 6 April 2023, you must register with HM Revenue & Customs (HMRC) by this

King Charles delivered his speech to Parliament last month following the election, setting out the priorities of the new Labour Government for the months ahead. The speech included 40 pieces of legislation that the Government plan to implement. To help you understand what the next five years may hold, here are the details of all

The first Budget of the new Labour Government has been announced to take place on 30 October 2024. Ahead of the budget, Chancellor Rachel Reeves has announced that spending cuts worth £13.5 billion will be required over the next two years. She explained that this was due to the scale of the previous Government’s overspending,

In a bid to ease the regulatory burden on businesses, new thresholds for classifying company sizes have been announced. This change, introduced by the previous Government, could allow around 132,000 businesses to skip mandatory audits. Under the current plans, which may be subject to change, companies will be able to benefit from the threshold changes

Recently, many pensioners received surprising news: a tax bill for the first time. This stems from HM Revenue & Customs (HMRC) decision to send letters to over 140,000 pensioners, who have taxable income but are not filing Self-Assessment. In total, 560,000 pensioners will receive letters, covering the 2023/24 tax year. Why is this happening? The

Recently, there has been a significant increase in company closures due to petitions from creditors, particularly HM Revenue & Customs (HMRC). In 2023, forced closures rose by 63 per cent compared to 2022. This spike is mainly due to high interest rates making Covid-era debts hard to manage, along with HMRC’s backlog of cases. Many

The issue of late payments has become a growing concern for small businesses. Recent data from Xero Small Business Insights reveals that, on average, payments were made 7.3 days late between April and June 2024. This is an increase of 1.8 days from the previous quarter. This marks the largest quarterly increase in late payments

When developing your business exit and succession strategy, you must consider all possible avenues, including those which might not seem so obvious. A management buyout (MBO) is one such approach that has gained traction for its flexibility and the ability to leave your business knowing that an experienced team is in place to run it.

Whether the hot weather lasts or not, summer is here to stay, bringing with it seasonal challenges and opportunities for business owners. You may think summer is business as usual, but many companies face disruption and delays due to: More people taking holiday than at other times The heat disrupting transport or the supply chain