Spring Statement changes are coming into effect. How will these changes to affect you? As you may have heard, there are changes happening to National Insurance contributions (NIC). From 6 July, the new thresholds will come into effect. But what does that mean for you? As a self-employed worker, you will already pay your National[…]
You don’t have to spend long running a business before you realise how important cashflow is. Cashflow is the balance between money coming into your company and the money going out on a weekly or monthly basis. There’s not much in commerce more likely to give you sleepless nights than cashflow. As it’s hard to[…]
How to boost your business in one easy step Entrepreneurs can often feel like they are on their own when it comes to getting advice and guidance on what to do and how to do it. One of the most common pieces of advice for business is to get a mentor. A mentor is someone[…]
Have you thought about how your status affects the amount of tax you pay after Brexit? For most UK citizens, the question of what should be included on their tax return is easily answered. This is because they are both UK domiciled and UK tax resident. Anyone domiciled and resident in the UK will need to[…]
National Insurance Contributions (NIC’s) will rise by 1.25% from April 2022 for employed and self-employed workers. As a result, this is intended to help fund health and social care costs. Why are National Insurance Rates increasing? The rates are to be increased in order to help with the impact of the coronavirus on the NHS[…]
HMRC has confirmed that it will be contacting eligible self-employed individuals based on their tax returns in mid-April to give a date for making applications Individuals will be contacted by email, letter or within the online service and all claims must be made on or before 1 June 2021. The claim must be made by[…]
Personal tax planning in 2021/22 If there’s one thing to take away from Spring Budget 2021, it’s taking charge of your personal finances is going to be increasingly important over the next five years. With the financial fallout from COVID-19 over the last year being the fiscal equivalent of fighting a war at more than[…]
Had everything gone to plan this year, the Chancellor would have been delivering his Autumn Budget speech. Instead, Rishi Sunak declared an “economic emergency” alongside a slimmed down spending plan to see him through until spring. Nobody in government would privately claim there is any way to avoid tax rises at some point, but the[…]
Coronavirus Business Interruption Loan Scheme Updated: 7th April 2020 On 20th March 2020, the Chancellor of the Exchequer, Rishi Sunak, announced several measures to help businesses across the UK who will be affected by the Covid-19 coronavirus. The situation is changing rapidly. This was the third significant announcement by the Chancellor in 10 days. Subscribe[…]
Following the covid-19 coronavirus outbreak, the government have introduced targeted measures for retail, hospitality and leisure businesses that pay business rates. The following has been taken directly from the UK government website. If you need our help or further advice, please email your usual Jack Ross contact. Support for retail, hospitality and leisure businesses that[…]