9 Apr 2024
From 6 April 2024, UK redundancy rules will change, particularly surrounding pregnant employees and those on family-related leave. The new legislation extends the 'protected period' for redundancy to 18 months after the birth or adoption placement, requiring employers to prioritise these employees for suitable alternative employment in case of redundancies. The financial impact on your
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9 Apr 2024
HM Revenue & Customs (HMRC) recently reported a £2 billion increase in income tax receipts, reflecting a strong self-assessment period and an evolving dynamic within the tax landscape. The Government's recent changes, including adjustments to National Insurance Contributions (NICs), have both mitigated and exacerbated the overall NIC burden. This is because they encompass rate reductions
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9 Apr 2024
New research by Marktlink suggests that around 33 per cent of UK business owners are unaware of the value of their company – only slightly lower than the European average figure of 40 per cent. While you are not alone if this applies to you, you must know what your business is worth. Why? Let
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9 Apr 2024
A survey by the Bank of England (BoE) and the Department of Business and Trade has identified a potentially significant challenge facing SMEs on their journey towards growth. The survey’s findings indicate that investment is crucial to sustaining growth for SMEs, but that many businesses faced barriers to accessing finance to make sufficient investment in
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9 Apr 2024
There is an inherent degree of risk in any business growth strategy – but keeping this risk to a minimum can help you grow your business without sacrificing your hard work. Growing your business hinges on your ability to take calculated risks, whether that be by investing in innovation or by taking on a new
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9 Apr 2024
With the start of the new tax year, taxpayers can expect significant changes that will directly impact their finances in the next tax year (2024/25). If you haven’t already, it's time to closely examine your financial planning, including savings, investments, and tax compliance. So, what changes should you be aware of from 6 April 2024?
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2 Apr 2024
The start of April can often symbolize fresh starts and growth and is the perfect occasion to announce the introduction of two Tax Partners to the Wilder Coe team. Jamie Muirhead will be stepping into his new role as Tax Partner, effective 1st April 2024. After joining the company in 2018 as one of the
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19 Mar 2024
The Chancellor delivered his 2024 ‘Budget for long-term growth’ in the face of an upcoming general election. Although the headlines have been dominated by the news that employee National Insurance Contributions will be cut further to eight per cent, Mr Hunt also announced several measures, which changed how certain property taxes will be applied. Largely
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19 Mar 2024
Following changes to the Working Time Regulations 1998 in January 2024, further amendments are set to come into force on 1 April 2024 relating to leave entitlement for workers on irregular hours. Upcoming changes will apply to workers on zero-hours or irregular hours contracts, as well as those who are on ‘part-year’ contracts, such as
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19 Mar 2024
In a significant development for the hospitality industry, the Employment (Allocation of Tips) Act 2023 (the Act), which received Royal Assent on May 2, 2023, is set to revolutionize tipping payment practices across the UK. Due to come into force on 1 July 2024, and affecting approximately two million workers in the sector, this new
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19 Mar 2024
The initial provisions of the Economic Crime and Corporate Transparency Act 2023 came into effect on 4 March 2024. These updates mandate that from 5 March 2024, every company must, when submitting their next Confirmation Statement (form CS01): Provide a registered email address for communications – Companies House will utilise this email for correspondence with
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19 Mar 2024
The introduction of Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is going to create some upheaval within the SME sector. No doubt, some of you are already using MTD-compliant software to file your taxes or your accountant is doing it for you. However, if you are yet to make this change, you
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