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Pitfalls to avoid in making a strategic plan

For businesses, having a strategic plan in place is vital for the long-term success and sustainability of the business.

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Chancellor refuses to rule out increase to capital gains tax

The Chancellor has ruled out raising VAT, income tax rates or National Insurance rates, but this has added speculation on whether other taxes will be increased.

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Abolishment of Furnished holiday lettings tax regime confirmed

HM Revenue and Customs (HMRC) have published draft legislation and a policy paper outlining the proposal for the abolition of the furnished holiday lettings (FHL) tax regime

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VAT on Amazon Fees from 1 August 2024

From 1 August 2024, selling fees charged by Amazon to UK vendors will be subject to VAT at 20%.

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Changes to non-domiciled tax status to go ahead

The previous government included plans to end non-domiciled tax status at the Spring Budget and replace it with a 4-year foreign income and gains (FIG) regime

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Bank of England reduces base rate to 5%

As anticipated, the Bank of England reduced their base interest rate on August 1 from 5.25% to 5%.

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HMRC conducting Business Asset Disposal Relief checks

The Institute of Chartered Accountants in England and Wales (ICAEW) have reported that HM Revenue and Customs (HMRC) are contacting taxpayers they believe may have overclaimed Business Asset Disposal Relief.

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VAT on school fees from January 2025

As the Chancellor was speaking in the House of Commons the Treasury published draft legislation on VAT for private school fees with forestalling measures from October

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Business group lists five 'key priorities' for removing trade barriers

The Federation of Small Businesses (FSB) has outlined five 'key priorities' for removing barriers to exporting for small and medium-sized enterprises (SMEs).

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Making HMRC pay for poor service

In recent months and years the decline in service standard from HMRC has been notable, but did you know that it is possible to complain about HMRC and even receive compensation?

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Changes to HMRC Helpline Services for Construction Industry Scheme

HMRC helplines will no longer deal with requests for payment deduction statements (PDS) for the Construction Industry Scheme

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Chancellor’s Speech: What are the Tax and Compliance Implications?

The new Chancellor of the Exchequer, Rachel Reeves, has delivered her first speech as Chancell oroutlining her plans for revitalising the UK economy

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Growth Guarantee Scheme now open for applications

The successor to the Recovery Loan Scheme, the Growth Guarantee Scheme, has now been launched by British Business Bank.

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Important Update: New Digital Service for Veterinary SICs

Starting 15 July 2024, all Special Import Certificate (SIC) applications must be submitted through a newly launched digital service.

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Could employee ownership be the answer for your business?

Transitioning to employee ownership is not only a strategic move to secure the future of a business but also a way to foster a more inclusive and motivated workforce.

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New rules on distributing tips

On 1 October 2024, the Employment (Allocation of Tips) Act 2023 will come into effect, introducing significant changes to how tips are managed and distributed in the hospitality industry.

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Reminder: P11D form submission deadline rapidly approaching

The deadline – 6 July – for reporting expenses and benefits to HM Revenue & Customs (HMRC) is rapidly approaching.

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Are you ready for a cyber attack?

The National Cyber Security Centre (NCSC) provides an ‘Exercise in a Box’ online tool that can help businesses check how resilient they are to cyber attacks as well as practise their response in a safe environment.

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Beware of false claims on business rates appeal deadlines

The Valuation Office Agency (VOA) has issued a warning about false claims being made about the deadline for appealing the 2023 list for business rates.

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Invest in Women Hub launched

If you are a female entrepreneur in the UK, you can now access a new resource designed to help you access the finance you need to start, grow, and scale your business.

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How can we help you?

Brearley & Co Accountants are pleased to offer a free, no obligation, initial consultation with one of our experts who will be happy to discuss your business needs and how we can help you.

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