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Buying a second home: what should you think about?

As accountants, we are often asked about the financial and tax implications of buying a second home.

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More indicators of a cut in interest rates to come

The Bank of Canada announced a cut of a quarter of a percentage point to its key interest rate last week, bringing the rate down to 4.75%.

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Report Employee Benefits on Form P11d by 6 July

P11d forms for reporting expenses and benefits in kind provided to employees and directors in 2023/24 need to be submitted by 6 July 2024.

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Navigating GDPR

The General Data Protection Regulation impacts business worldwide.

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Financing business asset purchases: Lease, Contract Hire or Hire Purchase?

Choosing how to finance your new asset doesn’t have to be complicated. By considering your businesses cash flow, how long you’ll need the asset, and whether ownership matters, you can pick the best option for you.

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Reforms to leasehold properties becomes law

The Leasehold and Freehold Reform Act has become law and will affect owners of freeholds for leasehold properties as well as house builders.

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Report on Companies House progress released

The Economic Crime and Corporate Transparency Act 2023 brought in reforms to Companies House procedures and powers with the first phase applying from 4 March 2024.

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Workers urged to check tax codes following 'costly mistake'

The government has urged millions of UK workers to check their tax codes following a 'costly mistake' which could result in lower salaries.The caution comes in the wake of incidents where workers have inadvertently paid too much tax on their earnings, despite not being at fault.

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Updated guidance for pregnancy and maternity protections

Updated guidance has been issued by the Equality and Human Rights Commission to help employers

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New planning rules reduce red tape for farmers

New planning laws that have come into force simplify the conversion of unused farm buildings into new homes, farm shops, and gyms.

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HMRC advisory fuel rates for company car users from 1 June 2024

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 June 2024.

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Warning on scam letters impersonating Companies House

Scammers are targeting business owners using a letter asking for a £48 payment to access enhanced web filing on the Companies House register

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Government promise to cut National Insurance confirmed

An article released by the Prime Minister’s Office noted that the progress in the economy has allowed them to bring down taxes, particularly the recent cuts in National Insurance and that they want to keep cutting National Insurance until it's gone.

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HMRC to receive extra £51 million in phone funding

The government has announced an extra £51 million in new funding to bring HMRC's phoneline service back up to the published target of 85% of calls to its advisers being answered.

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WorkWell: £64M Initiative for Workplace Health

The UK government has announced a new initiative aimed at helping people with health conditions stay in or return to work.

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Investing in an Unquoted Trading Company

If you are considering lending money to, or subscribing for shares in, an unquoted trading company then, like many investments, there is always a risk that you may lose your money.

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How to defend your business from email compromise

Email phishing attacks that target senior leaders and finance personnel in the business are on the increase.

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Hybrid working – what counts as a business journey for tax purposes?

HM Revenue and Customs (HMRC) have updated their guidance on what qualifies as ordinary commuting and private travel for tax purposes to include hybrid or flexible working.

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Avoiding Business Pitfalls: 7 things you should know

Recent surveys of UK business owners show us to be under pressure. This is no surprise. As a business owner, you’re constantly juggling multiple responsibilities and facing a myriad of challenges.

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Don’t get caught out by tax avoidance

HM Revenue and Customs (HMRC) are running a campaign to help people avoid being caught out by tax avoidance schemes. This is particularly relevant to those who are contractors, agency workers, or are working through an umbrella company.

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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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