Client Portal

Build Your Business, and Keep More of Your Money

Chartered Accountants & Business Advisors

Call Us Today!

News

HMRC Targets Airbnb Hosts

As part of its Let Property campaign, HMRC has been sending ‘nudge’ letters to those who it suspects have not been declaring all of their rental income. Recently it seems that HMRC has taken a tougher approach, and is targeting those in the short-term rental market. It was recently made known that the Airbnb booking […]

Read more August 23rd, 2023

Are Deposit-Free Mortgages A Good Idea?

The main argument in favour of 100% mortgages goes along the following lines: if tenants can pay £2,000 a month in rent, then surely they can afford monthly mortgage repayments of £1,800? This argument fails to consider two other important issues. Firstly, the economic outlook for the property market: In May, Lloyds Bank predicted house […]

Read more August 22nd, 2023

HMRC Annual Report Shows Some Important Trends For Business Owners

HMRC’s annual report was published in July, and it shows that they failed to meet many of their key customer services measures in 2022-23. Customer satisfaction dropped to 79% from 82% last year and telephone performance has also declined with an average wait of 16 minutes to get through to an adviser. 63% of callers […]

Read more August 21st, 2023

Basic Payment Scheme Advanced Payments & Extra Funding For Farmers

The Rural Payments Agency has begun to issue the Basic Payment Scheme (BPS) advance payments. In 2022, Defra announced that payments would be made in two instalments each year for the remainder of the agricultural transition period. Around 50% of the overall payment is being made now with the remaining balance expected from December. Payments are […]

Read more August 18th, 2023

Acas Consultation – Flexible Working Requests

Acas is updating its statutory Code of Practice on handling requests for flexible working, to reflect the anticipated reforms to legislation, significant shift in flexible working in the workplace and changing views since their existing Code was published in 2014. Their non-statutory guidance will also be updated, which sits alongside the Code. The aim of […]

Read more August 18th, 2023

Electric Car Workplace Charging Scheme

The Workplace Charging Scheme (WCS) is a voucher-based scheme that provides eligible businesses with support towards the upfront costs of the purchase and installation of electric vehicle (EV) charge points. All businesses can use it to help provision charge points for their staff or fleets. Charities and small accommodation businesses can further use it to […]

Read more August 17th, 2023

Threads: The New Twitter?

How could the latest social media platform work for businesses? Threads is a new social media channel created by Meta Platforms (formerly known as Facebook) which was launched in July this year. Threads went live on both the Apple and Android app stores in 100 countries and signed up more than 100 million users in […]

Read more August 16th, 2023

5 Steps To A Marathon Mindset

Tackling your role in business like a marathon can help you to focus on the big picture. Effective leadership requires more than just short-term thinking and quick fixes. Similar to running a marathon, successful managers need to cultivate a marathon mindset—an approach that emphasizes endurance, perseverance, and long-term goals. 1. Goal Orientation Managers with a […]

Read more August 16th, 2023

Tripling Of Fines For Hiring Or Renting To Illegal Migrants

Fines are to be more than tripled for employers and landlords who allow illegal migrants to work for them or rent their properties, in the biggest shake-up of civil penalties since 2014, the Home Secretary announced last week. The civil penalty for employers, which was last increased in 2014, will be raised to up to […]

Read more August 15th, 2023

The Electronic Trade Documents Act

The Electronic Trade Documents Act received Royal Assent last week granting electronic trade documents the same legal status as physical trade documents, hopefully making trade more efficient, cleaner, and cheaper for businesses. Existing laws dating back to the 1800s previously meant that exporters and importers have to use paper documents to transfer ownership of the […]

Read more August 14th, 2023

HMRC Raise Interest Rates Again As Base Rate Increases

HMRC interest rates are linked to the Bank of England base rate. Late payment interest is set at the base rate plus 2.5%. Repayment interest is set at the base rate minus 1%, with a lower limit – or ‘minimum floor’ – of 0.5%. The Bank of England increased the base rate from 4.5% to […]

Read more August 10th, 2023

Rumours Of Abolition Of Inheritance Tax

There are rumours circulating in the press of the possible abolition of inheritance tax (IHT) in a bid by the Government to secure the support of wavering Conservative voters. This may cause some individuals to delay IHT planning, but remember these are just rumours, and it may not actually happen. It should be noted that […]

Read more August 9th, 2023

Planning A Staff Summer Barbeque?

Employers may meet the cost of certain social events for staff without creating a tax liability. This used to be a concession but is now a statutory exemption provided certain conditions apply. The exemption applies to an “annual party or similar function” provided it is available to all employees or available generally to those at […]

Read more August 8th, 2023

Use Tax-Free Childcare Account For Summer Holiday Clubs

Tax-Free Childcare accounts can be used to pay for approved childcare for children aged 11 or under, or 16 if the child has a disability. This can include paying for a summer holiday club or childminder. The account can also be used to pay nursery fees, or to pay for breakfast or after-school clubs in […]

Read more August 4th, 2023

Additional Information Required For R&D Claims From August

The latest Finance Act includes two changes that will affect all R&D claims: When a limited company intends to make a claim for research and development (R&D) tax relief, from 8 August 2023 onwards it will need to provide detailed information to HMRC in advance. We can assist you in preparing the notification or prepare […]

Read more August 1st, 2023