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Key dates and deadlines for small businesses

Running your own small business is hard work – you will find yourself trying to develop and grow your business, alongside managing the day-to-day operations acting as the finance, marketing, HR and sales departments – often all in the space of a few hours! To help you manage and keep on...

Financial Planning & Child Benefit: An update

Child benefit or family allowance, as it’s sometimes called, gives you extra financial support if you’re responsible for bringing up children. In the 2024/25 tax year, as a parent or guardian you will get: £25.60 a week for the eldest or only child £16.95 a week for any other children You can...

What does the VAT registration threshold rise mean for businesses?

The VAT turnover threshold is the sales limit that determines whether a business is required to register for VAT with HMRC. It’s vital for accountants and small businesses alike to understand the VAT registration rules, so small and medium-sized enterprises (SMEs) can avoid incurring hefty penalties for late VAT registration. In this...

An essential tax planning guide for business owners

When you own a business, your personal financial plan should inform every decision you make. Once you know how much money you need for everyday life and your long-term goals, you can consider how your business plan can help you achieve this. The success of your business will depend on the...

What Falling Inflation Means for Your Finances

Following a cost of living crisis spanning almost two years, the rate of inflation has dropped to 3.9%. This is still relatively high, considering the Bank of England’s target is 2%. But having seen rates of over 11% in recent memory, there are strong indications that price increases are returning...

HMRC U-Turn on closure of “loophole” for drivers

Only a week after HMRC released new guidance that classed double-cab pickups as cars rather than vans, they have now done a complete U-turn and have reversed this decision. HMRC confirmed on Monday 19 February it was going to scrap its week-old new guidance, confirming that double-cab pickups will continue to...