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Some Self-Catering Holiday Let Owners Being Asked To Provide Trade Information

The Valuation Office Agency (VOA) is contacting the owners of some self-catering holiday lets. The lets in question are ones that are currently being assessed for business rates. The VOA are looking for additional information about the income and expenditure of these properties. This will assist in calculating the rateable value of the property. This […]

Read more February 29th, 2024

New Rules Proposed For Short-Term Lets In England

In a press release published on 19 February 2024, the Government announced that planning rules will be changed to protect local residents in England from being pushed out of their communities by excessive short-term lets. The proposed planning changes would see a new planning ‘use class’ created for short-term lets not used as a sole […]

Read more February 27th, 2024

Construction Industry Scheme (CIS) Changes

Finance Bill 2023-24, which is currently making its way through Parliament, includes a clause that will change the Construction Industry Scheme (CIS) Gross Payment Status Tests from 6 April 2024. Having Gross Payment Status means that a subcontractor can receive gross payments from contractors, as opposed to payments that have suffered a 20% or 30% […]

Read more February 26th, 2024

Housing Market Outlook For 2024

The Nationwide House Price Index for December 2023 found that UK house prices fell by 1.8% over the course of 2023, with only Scotland and Northern Ireland seeing rises during the year. Nationwide’s Chief Economist, Robert Gardner, said “Housing market activity was weak throughout 2023. The total number of transactions has been running at around […]

Read more February 23rd, 2024

New Laws On Fake Reviews, Hidden Fees & Shop Labelling

The Department for Business and Trade are making changes that will ban dripped fees, make fake reviews illegal, and make sure that price labelling on supermarket shelves is clearer. These measures are part of the Digital Markets, Competition and Consumer Bill that is currently progressing through Parliament. Dripped pricing refers to when an initial price […]

Read more February 21st, 2024

Enhancing Waste Sector Compliance: New Economic Crime Unit

In recent developments aimed at strengthening regulatory oversight in the waste sector, the Environment Agency has launched a new Economic Crime Unit dedicated to combating financial crimes. This initiative comes as part of the agency’s ongoing efforts to address the pervasive issue of waste crime. Alan Lovell, Chair of the Environment Agency said that waste […]

Read more February 20th, 2024

Navigating Recession: Key Considerations For Your Business

The Office of National Statistics released official figures in February that show the UK is now officially in recession. Gross domestic product (GDP) for the October to December 2023 quarter dropped by 0.3%. This followed a fall in the July to September 2023 quarter of 0.1%. A fall in GDP in two or more consecutive […]

Read more February 19th, 2024

How Cloud Accounting Can Help You

In business, staying ahead of, or at least up with, the curve is crucial for success. Over recent years, one of the revolutionary tools that has transformed the way businesses manage their finances is cloud accounting. Cloud accounting offers many benefits over traditional, on-premise accounting systems. Let’s discuss some of them. What are the benefits […]

Read more February 16th, 2024

Have You Set Objectives For 2024?

Set your business up for success in the year ahead. The beginning of the year is a natural point in time to take a step back from the day-to-day aspects of running your business and spend time thinking about what success looks like in 12 months’ time. Now that we’re further into the year, have […]

Read more February 14th, 2024

Customers Want Experiences

Online business models are great, but there is a reason why Ikea and Lego are opening physical stores. Traditionally, businesses focused on developing high-quality products to meet customer needs and expectations. However, the modern consumer is not merely seeking a transactional exchange – they crave a holistic experience that goes beyond the tangible features of […]

Read more February 13th, 2024

Inheritance Tax Planning

Many were expecting an announcement from the Chancellor in the Autumn Statement about cuts to, or the possible abolition of, inheritance tax (IHT). Maybe he is saving that for his Spring Budget, but in the meantime, it may be worth utilising the £3,000 gifts annual exemption for 2023/24 and, if available, the unused amount from […]

Read more February 9th, 2024

Time To Review, Or Make A Will?

At the top of the New Year to do list for many individuals is to make or update their Will. Many think this is something to leave until later in life, but it is important to get things in place once property is acquired or when children come along. In the absence of a will, […]

Read more February 7th, 2024

Get Ready For More R&D Changes

On top of the major changes to research and development (R&D) tax relief that took effect from 1 April 2023, there are yet more changes that take effect from 1 April 2024. The main change from 1 April 2024 is that most companies carrying out qualifying R&D will be entitled to a 20% expenditure credit. […]

Read more February 6th, 2024

Year End Tax Planning

It’s not too late to undertake some end of year tax planning. If you have some spare cash, an obvious tax planning point would be to maximise your ISA allowances for the 2023/24 tax year (currently £20,000 each). You might also want to consider increasing your pension savings before 5 April 2024. Use a Lifetime […]

Read more February 5th, 2024