HMRC has announced that interest rates for late payments will increase by 1.5% for all taxes starting 6 April 2025. This change, which was first announced at Autumn Budget 2024, will raise the late payment interest from the current base rate plus 2.5% to base rate plus 4.00%. This adjustment applies to most taxes. Late […]
The Spring 2025 Tax Update brings a series of reforms aimed at simplifying tax administration and reducing burdens for UK businesses. Here’s a breakdown of the key changes: 1. Capital Goods Scheme Simplification The government plans to simplify the Capital Goods Scheme by removing computers from the assets it covers and increasing the capital expenditure […]
A solicitor reached out to me yesterday asking how I’ve been keeping and what I was up to. She works in the defence of claims against accountants. I mentioned that I think there will be a lot of claims in future from people advised on the wrong structure for their property investment activities. She asked […]
What is a dwelling? What does it mean for something to be suitable for use as one? Why does this matter? What am I talking about? In a group chat I am in someone posted a picture of what was a truly terrible room in a house that needed a staggering amount of work to bring […]
If you’re approaching retirement age and want to ensure you’re on track to receive your full State Pension, it’s crucial to check your entitlements. Here’s a step-by-step guide to help you navigate the process using official UK government resources. 1. Determine Your State Pension Age The State Pension age is the earliest age you […]
In a significant move aimed at bolstering British businesses, Chancellor Rachel Reeves has unveiled a comprehensive plan to ensure a level playing field in international trade. Announced during the IMF Spring Meetings in Washington D.C., the initiative seeks to address unfair trading practices and support domestic industries facing challenges from global competitors. Tackling Unfair Trade […]
1. Determine If You Need to Follow Export Procedures Export procedures apply when you’re moving goods permanently from: England, Wales, or Scotland (Great Britain) to a country outside the UK Northern Ireland to a country outside the UK and the EU Different rules apply if you’re: Moving goods between Great Britain and Northern Ireland Sending […]
I took someone out for a cuppa recently and snapped a picture of the receipt for my records. They asked what I was doing. I explained my business accounts are on Xero so naturally I snap pictures of my receipts to save time. This chap has been using Xero for many many years but had […]
In a significant move to bolster British businesses amidst evolving global trade dynamics, the UK government has unveiled a comprehensive support package aimed at enhancing financial backing and fostering growth across various sectors. Strengthening Financial Support for Exporters Central to this initiative is the expansion of UK Export Finance (UKEF) capabilities, with an additional £20 […]
It won’t come as a surprise at all to most of you that the mainstream press don’t always get things right. Landlords are seemingly gladly mis portrayed as evil capitalists that don’t care at all about their tenants. We are also lumped in with the “rich” when people shouting about “taxing more!” and rarely do […]