News
Can you afford a £7,300 fine from Companies House?
25 September 2023
You must file your company accounts, to avoid late filing penalties, Companies House is warning. All companies must file annual accounts with Companies House each year, regardless of whether they are trading or not, or whether they are public or private. This applies to both large and small companies.
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The rise of the machines – How AI can elevate your SME to new heights
25 September 2023
In a world where technological advancements are reshaping industries, small and medium-sized enterprises (SMEs) cannot afford to be left behind. The hesitance to embrace new technologies, epitomised historically by movements like the Luddites in the 19th Century, can impede growth and competitiveness.
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Why companies fail to pay the National Minimum Wage and how to avoid the same mistakes
15 August 2023
The Government recently named over 200 companies for failing to pay the national minimum wage (NMW). The list includes firms of all sizes and various sectors. Some notable brands include WH Smith, Argos, and Marks & Spencer. Those named were found to have failed to pay their workers almost £5 million...
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What you need to know about the High-Income Child Benefit charge and the upcoming changes
15 August 2023
The High-Income Child Benefit Charge (HICBC) is a tax that affects households where at least one person with parental responsibility has a taxable income exceeding £50,000. This charge applies regardless of who in the household receives the child benefit, and it is payable by the household’s highest earner.
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Eight ways your accountant can boost the success of your business
15 August 2023
Accountants are often seen as guardians of tax and compliance. However, their expertise extends far beyond these areas. They can act as problem solvers, assisting with a range of tasks that can set the stage for a smooth and profitable business operation. Here are eight ways your accountant can help your business flourish...
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The benefits of Employee Ownership Trusts
15 August 2023
Introduced in 2014, Employee Ownership Trusts (EOTs) provide an attractive alternative to traditional business succession strategies, offering a series of unique benefits to businesses, their employees, and the wider economy.
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£56 million overpaid in pension tax
15 August 2023
In the second quarter of 2023, overpayments on pension tax in the UK reached £56 million. This was an increase of nearly £8 million from the first quarter of the year, according to HM Revenue & Customs (HMRC). This figure is almost double the £33.7 million collected in the same period the previous year.
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New R&D supplementary information form in effect
15 August 2023
As of 8 August 2023, all Research and Development (R&D) Tax Credit claims require the submission of an online Additional Information Form (AIF) providing supplementary project details. The form must be completed prior to the submission of the company tax return. If the form is not submitted, the R&D claim will not be incorporated...
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Inflation and increased interest rates – What does it mean for businesses?
24 July 2023
Office for National Statistics (ONS) data revealed that the Consumer Price Index (CPI) – the official measure of inflation – only fell to 8.7 per cent in the 12 months to May 2023. While the rate of inflation is not as high compared to previous months, where it peaked at 10.4 per cent in February...
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HMRC sets its sights on SMEs over UK tax gap
24 July 2023
The tax gap in the UK – the difference between the amount of tax owed and the amount that has been paid – remains wider than anticipated due to SMEs, according to HM Revenue & Customs (HMRC). The tax authority’s figures for 2021/22 show that small and medium-sized enterprises (SMEs) contribute significantly...
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Case Studies
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Smiles all round for dental practice
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Taxing demands with old school charm
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Customer care is top of the list for packaging business
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A modern approach required for music moguls
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Sometimes a business does exactly as it says on the tin
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A taste for growth, a thirst for knowledge
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A shared passion for architecture and a head for numbers
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Child's play with proactive accounts management
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Cut above the rest in personal management style