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Be Wary Of Self Assessment Scams

HM Revenue and Customs (HMRC) have issued a reminder to be careful about scam attempts that target people filing Self Assessment tax returns. In the last year, nearly 150,000 scam attempts were referred to HMRC, a 16.7% increase on last year. With the 31 January 2025 filing deadline approaching, fraudsters are likely to step up […]

Read more December 10th, 2024

Advisory Fuel Rate For Company Cars December 2024

The table below sets out the HMRC advisory fuel rates from 1 December 2024. These are the suggested reimbursement rates for employees’ private mileage using their company car. Where the employer does not pay for any fuel for the company car these are the amounts that can be reimbursed in respect of business journeys without […]

Read more December 9th, 2024

Check Your State Pension Entitlement

We previously reported on the HMRC website having a function to check your State Pension Entitlement. HMRC have now developed an app that can help people prepare for their retirement. Individuals can use the app to check their State Pension Forecast, allowing them to: The app can also be used to check National Insurance contribution (NIC) […]

Read more December 6th, 2024

Paying Employees Early Before Christmas

Some employers need to pay their employees earlier than usual in December. This can be for several reasons, such as businesses closing during the festive period and needing to pay workers earlier than normal. As in earlier years, HMRC have announced that they have relaxed the RTI (Real Time Information) reporting obligations. If you do […]

Read more December 5th, 2024

Farmers Campaigning For Agricultural Property Rethink

The announcement in the Autumn Budget about restrictions to inheritance tax (IHT) agricultural and business property relief from April 2026 has upset farming businesses in particular, resulting in a demonstration in London on 19th November. From 6 April 2026, it is proposed that 100% relief will only apply to the first £1 million of combined […]

Read more December 4th, 2024

Christmas Party Time!

There continues to be no taxable benefit for employees provided that all staff are invited to the Christmas Party, and the cost to the employer does not exceed £150 a head, inclusive of VAT. If you have already had a summer event, provided the combined cost of the two events is no more than £150 […]

Read more December 3rd, 2024

Budget Summary Autumn 2024

Chancellor Rachel Reeves delivered the first Labour Budget in nearly 15 years on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’. Billions in tax rises Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next […]

Read more October 31st, 2024

CMA Issues Warning To Unregulated Legal Service Providers

The Competition and Markets Authority (CMA) is stepping up its efforts to protect consumers opting for unregulated legal services, such as will writing and divorce arrangements, which are becoming increasingly popular alternatives to traditional high street solicitors. As the use of these services grows, the CMA is acting to ensure that businesses offering them comply […]

Read more October 22nd, 2024

£63 Billion In New UK Investments Set To Create 38,000 Jobs

At the International Investment Summit, the UK government announced nearly £63 billion in new investments, which are expected to create 38,000 jobs. These investments, which span various sectors, are projected to fuel growth across the country. While these investments tend to focus on large businesses and large-scale projects, there could be significant implications for small […]

Read more October 21st, 2024

Employment Rights Bill 2024

The government has published the Employment Rights Bill, which is intended to help deliver economic security and growth to businesses, workers and communities across the UK. The bill will bring forward 28 individual employment reforms, from ending exploitative zero hours contracts and fire and rehire practices to establishing day one rights for paternity, parental and […]

Read more October 18th, 2024

Why Business Owners Should Start Using KPIs To Drive Success

As a small business owner, it’s easy to get caught up in the day-to-day operations and miss the bigger picture. You might rely on gut feelings or a quick glance at your bank account to determine how well your business is doing. However, without specific measures of success, it can be difficult to truly understand […]

Read more October 17th, 2024

Is Your Website Compliant With Cookie Laws

If you run a business with a website, you’ve likely seen those cookie consent banners asking visitors whether they’d like to accept or reject cookies. But what if your website is not giving visitors a fair and informed choice when it comes to how their personal data is used? A recent case involving Sky Betting […]

Read more October 15th, 2024

Don’t Miss Out On Winter Fuel Payments: Check Your Eligibility For Pension Credit

Many pensioners were dismayed to learn that Winter Fuel Payments are now being restricted to those who are on benefits and Pension Credit. The Winter Fuel Payment is a key benefit to help with increased heating costs during winter that was previously paid to all pensioners. However, with recent changes, the payment is now means-tested […]

Read more September 16th, 2024

Back To School – Have You Set Up A Tax-Free Childcare Account?

The Government’s Tax-Free Childcare Accounts provide a 25% subsidy towards the cost of childcare. The account can be used to pay nursery fees, breakfast clubs, after-school clubs and registered childminders. The scheme operates by topping up savings of up to £8,000 per child by 25%, potentially an extra £2,000 a year from the Government to […]

Read more September 11th, 2024

Advisory Fuel Rate For Company Cars September 2024

The table below sets out the HMRC advisory fuel rates from 1 September 2024. These are the suggested reimbursement rates for employees’ private mileage using their company car. Where the employer does not pay for any fuel for the company car these are the amounts that can be reimbursed in respect of business journeys without […]

Read more September 10th, 2024