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Mini Budget 2022 – Key Points

Mini Budget 2022 – Key Points

On Friday 23 September, the Chancellor Kwasi Kwarteng announced the Government’s mini budget. We have provided a round-up of all the key points, from both a business and personal tax perspective. Personal Tax Income Tax There will be a cut in basic rate of income tax...

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The Construction Industry Scheme (CIS)

The Construction Industry Scheme (CIS)

What is the Construction Industry Scheme (CIS) and how does it operate? In the following guide, we will explore how the HMRC scheme works for freelance subcontractors in the UK construction industry. The scheme was set up by HMRC to collect income tax from those...

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Taking Advantage of Marriage Tax Allowance

Taking Advantage of Marriage Tax Allowance

Marriage Allowance is one of the most under-utilised personal tax saving options and at a time when cost of living pressures are only increasing, it’s worth taking advantage if you can. One of the reasons for such a low take up of the scheme is probably because the...

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Register of Overseas Entities – Now in operation

Register of Overseas Entities – Now in operation

  In response to a need for greater transparency regarding the ownership of UK land and property, the Government has introduced a new requirement for Overseas Entities to register with Companies House. The Register of Overseas Entities came into force on 1 August...

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Taking a Break from Your Business

Taking a Break from Your Business

With the summer upon us, this seems like a good time to be reminded about the importance of taking a break from your small business. Running a business can be all encompassing and despite the flexibility and control that comes from working for yourself, in some ways...

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Accounting for Sole Traders

Accounting for Sole Traders

The freedom of setting up as a sole trader and being your own boss is inevitably one of the reasons many people choose to do it, but it’s not without significant responsibility and administrative burden. However, we are here to help with this simple guide to tax and...

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2021/22 P11D Deadline – Reporting Taxable Benefits

2021/22 P11D Deadline – Reporting Taxable Benefits

The P11D deadline is just a couple of months away, which means all employers that need to complete one should be making the necessary preparations now. If this is the first time you have been required to report employees benefits or non-exempt expenses, you may be...

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