Accounting Insights

From 1 April 2023, the corporation tax main rate will increase to 25% for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also...

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry...

Whilst most businesses in the UK charge VAT at the standard rate of 20%, there are a number of different VAT rates and exemptions that businesses should be...

MTD for landlords will require the landlord to register, file, pay and update their information using an online tax account.  The introduction of MTD for Income Tax Self-Assessment...

The VAT reverse charge accounting mechanism was put in place to help prevent criminal attacks on the UK VAT system by means of sophisticated fraud. UK businesses receiving...

2016 was the first-time dividends tax allowance was introduced and it replaced the old dividend tax credit with an annual £5,000 dividend allowance. Tax was payable on dividends...

When running your business, you must ensure you are paying your staff the new National Minimum Wage (NMW) and National Living Wage (NLW) rates for the period 1...

On Friday 23rd September, Chancellor Kwasi Kwarteng MP, shared the Conservative Government’s mini budget plans in the House of Commons, stating: People need to know help is coming and...

Employment allowance is used to reduce an employer’s NIC liability. You can only claim against your employers’ Class 1 National Insurance liability up to a maximum of £5,000...

In the 2022 Spring Statement, a significant increase in the National Insurance Threshold from £9,880 to £12,570 was announced. This increase saw the alignment of the Primary Threshold...

What is credit control and the importance of getting paid on time. Credit control is an important part of all businesses in order to avoid cash flow problems...

If you are a sole trader or property landlord change is on the way. Making Tax Digital (MTD) will become mandatory for not only VAT-registered businesses but sole...