Big changes are coming for sole traders — are you prepared? From April 2026, Making Tax Digital (MTD) for Self Assessment becomes mandatory for sole traders and landlords with turnover above £50,000. That means digital record-keeping and quarterly submissions will…
by Sophie Hutchings What is a self-assessment? Self-assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax and National Insurance Contributions. Tax is usually deducted automatically from wages and pensions. People and businesses with other…
Rachel Reeves has delivered her first budget as Chancellor, the first Labour budget since 2010. We will be circulating a more detailed breakdown to clients later this week, but below are some of the key takeaways, changes and impressions that…
by Sophie Hutchings Why is Networking a key ingredient for small business success? There is an assumption that networking is only useful for job searching, but it goes far beyond you just finding your next job opportunity. Networking is…
by Sophie Hutchings Procrastination, what is it? The definition stands as “the action of delaying or postponing something”. How many times do you sit in bed the night before, planning your day ahead. Analysing what you need to do,…
by Sophie Hutchings There have been several changes to rules and regulations in the Spring Budget 2024 that small business owners should be aware of and understand how they will affect their business. All changes in this list apply across…
Originally taken from an industry forum, and shared with permission: I thought it might be useful if I shared some of my experience as an ex HMRC compliance officer so here’s a list of useful things to take into…
Key points from today’s “mini-budget” announced by the new Chancellor of the Exchequer, Rt Hon Kwasi Kwarteng MP: For Individuals A 1% reduction in the basic rate of income tax, planned for 2024, is being brought forward to 2023. In…
The expectation ahead of yesterday’s spring statement (since termed a “mini bidget”) was that it would be “business as usual” and “nothing new”. Rishi Sunak, whatever his many debatable faults, never fails to disappoint with a dramatic announcement. In addition…
We wanted to wait for the dust to settle, and see what detail emerged before publishing the key takeaways from the Chancellor’s Autumn Budget: For Individuals The 1.25% Health and Social Care Levy will be introduced from 6 April 2022…