20-06-2022
A leading business organisation has highlighted the problems faced by the industry after new figures show a steep rise in business costs. According to figures from the Office for National Statistics (ONS), producer input price inflation stands at a record-high 18.6% and the consumer prices index at 9%. It says the disparity between the two
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20-06-2022
Research from the Federation of Small Businesses (FSB) shows that successful applications for finance among members have dropped to the lowest level on record. Conversely, figures from the Bank of England show the annual growth rate of lending to big corporates has increased significantly since the start of the year. It has led to the
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20-06-2022
The ‘biggest change to rent law in a generation’ will be delivered with the Renters Reform Bill (the Bill). The Government says it says it will improve the lives of millions of renters by driving up standards in the private and social rented sector, delivering on the Government’s mission to level up the country. Levelling
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20-06-2022
From 6 July 2022, the Primary Threshold (PT) for National insurance will increase to £12,570. This is the threshold at which employees begin paying National Insurance contributions (NICs). This will bring the rate in line with the current rate of personal allowances for income tax and means those earning below this amount each year will
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07-06-2022
The talent wars. Staff retention concerns. The Great Resignation. It is fair to say that every industry has seen its workforce hit by COVID-19. In particular, the travel industry must look at ways to entice staff back and attract the next generation of travel consultants. With staff levels less than before the pandemic, many travel
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20-05-2022
Do you have clients with relatives, property, inheritances, or businesses in the UK? Join our Tax Partner, Tim Cook and Zahra Kanai (Partner and Wills & Tax planning at Thackray Williams) in collaboration with the International Estate Planning Council for a live seminar focusing on inheritance tax and estate planning strategies for residents and non-residents. Together they will focus
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11-05-2022
As businesses explore ways to be ‘greener’, organisations look to employ a tax regime that encourages zero or low emission vehicles. So, what exactly are the tax benefits? We look at some more commonly asked questions from clients wanting to understand the tax advantages of electric vehicles (EV) or e-bikes. How do you calculate
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10-05-2022
From 1 September, the Trust Registration Service (TRS) expansion means more trusts will need to register with HM Revenue & Customs. Introduced five years ago, the TRS makes the beneficial ownership of assets held in trust more transparent. While many trusts have already signed up to the TRS, the expanding service remit now includes more
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10-05-2022
When HM Revenue & Customs (HMRC’s) current guidance on the tax treatment of tips and troncs was first published back in 2014, tips and troncs were paid almost exclusively in cash or through card transactions. Of course, in the eight years since, things have changed dramatically and payments are frequently made via app-based platforms, whether
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10-05-2022
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
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10-05-2022
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
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10-05-2022
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
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