Latest News and Updates
02-11-2021
Many small and medium-sized enterprises (SMEs) were hit hardest at the beginning of the pandemic. They had access to support, like the Bounce Back Loan, which was easier to access and had lower interest rates, but those only helped during the short term. Now a growing number of SMEs are struggling with debt. The latest
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02-11-2021
Cost-saving will be key for many businesses struggling to get back up to speed after the pandemic. Many small and medium-sized enterprises (SMEs) were hit hard and now face higher inflation, skills shortages and rising wages. The Bank of England says the inflation figure could even hit four per cent by December. So, cutting costs
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27-10-2021
With the Speaker of the House of Commons by tradition not presiding over the Budget, the Chancellor might have hoped he would escape a rebuke over the number of important announcements disclosed to the media in advance.
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21-10-2021
Since 2017, any UK trust that pays income tax, capital gains tax, inheritance tax, or stamp taxes must register with the Trust Registration Service (TRS). HM Revenue & Customs (HMRC) opened the TRS on 1 September 2021 for non-taxable trusts. You must register: Non-taxable trusts in existence on or after 6 October 2020 by
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21-10-2021
October sees the not-for-profit sector acknowledge Charity Fraud Awareness Week, an award-winning annual campaign by the Charity Commission. Charity leaders must look at ways to protect their organisations from cybercrime and fraudulent activities after new figures show that £8.6million of funds were lost in the financial year 2020/21. Action Fraud reported that 1,059 fraud incidents occurred
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04-10-2021
The last month has highlighted the challenges that many businesses face when it comes to supplies and costs. Visions of people filling up plastic bottles with petrol or pulling trolleys of toilet rolls to their car may seem bizarre but they have become reality in the last year and this shortage of key supplies is
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04-10-2021
Lots of businesses are seeking out finance at the moment, whether to fund an acquisition or finance investment, but given the challenges the economy faces, it is becoming increasingly difficult to secure the right deal. If a business hasn’t sought out finance for a while or there has been a significant change to their operations
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04-10-2021
Have you ever considered buying a business? Whether you are an experienced entrepreneur or just starting out, acquiring a ‘ready-made’ business offers many advantages. For established businesses, buying a second company can help them break into new markets or acquire machinery, skilled workers or innovations that can help their operations grow. Meanwhile, new entrepreneurs can
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04-10-2021
Unincorporated businesses have heaved a sigh of relief after the Government delayed the date for the implementation of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) by one year to 2024. Hit hard by the pandemic, it will give these businesses, including the self-employed and landlords, an extra 12 months of breathing space to
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04-10-2021
The Coronavirus Job Retention Scheme (CJRS) ended in September, but many firms could still be subject to a CJRS compliance check in the weeks and months ahead. HM Revenue & Customs (HMRC) has been sending out letters to employers throughout the year telling them they need to pay back CJRS payments because they claimed too
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04-10-2021
Thousands of taxpayers across the UK have received ‘nudge letters’ from HM Revenue & Customs (HMRC) encouraging them to declare unpaid tax. The reasons for being targeted vary, but the impact of being contacted by HMRC can cause a lot of stress, leaving many taxpayers unsure about what they should do. Who is HMRC targeting
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01-10-2021
We are delighted to announce that Caryl King has been promoted as our newest Partner. Caryl has successfully risen through the ranks of the London-based practice after joining in 2008 as part of their audit trainee programme. Qualifying in 2011, Caryl has spearheaded several initiatives at Wilder Coe and is responsible for overseeing the firm’s
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22-10-2024
For business owners and directors, dividends may form a critical element of your salary strategy and tax planning, keeping your tax liabilities to a minimum. To extract profit tax-efficiently from your business, you may use a combination of: Salary – Typically set at or around the Personal Allowance of £12,570 to minimise Income Tax and
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