Category Archives: Latest News

Reductions to National Insurance rates

National Insurance Changes

Last week, the government announced in-year reductions to National Insurance rates and the cancellation of the Health and Social Care Levy as a separate tax. The key changes are: Reductions to National Insurance rates National Insurance contribution (NIC) rates will be cut by 1.25 percentage points for: employees, employers, and; the self-employed This effectively reverses […]

Energy Price Cap

Energy Price Cap

You may already be aware that the UK Government will freeze the energy price cap for domestic consumers. But there has also been the promise of similar support for businesses & charities as well as the public sector. Further detail is set to be made public as it becomes available as yet. New Prime Minister […]

How you can pay yourself from your Limited Company

How you can pay yourself from your Limited Company

Congratulations! You’re now the Director of your very own company.  This is a very exciting time for you with lots going on. And because of that it’s easy to forget some of the fundamentals. Including how you can pay yourself from your Limited Company. And it’s not as straightforward as you may think. Being the […]

Making Tax Digital for VAT is mandatory

Making Tax Digital

Making Tax Digital for VAT is mandatory for ALL VAT-registered businesses and has been since the 1st of April 2022.  Even those under the VAT threshold (currently £85,000) must now comply. This means that all VAT-registered businesses are now required to: keep digital VAT records, and; send VAT returns using MTD-compatible software. Regardless of turnover. […]

New 64-8 form

New 64-8 form

From the 31st of March 2022, new clients now need to use a new 64-8 form to give their accountant or tax adviser authority to deal directly with HMRC on their behalf. Existing clients do not need to re-authorise their current relationship. How to access the new 64-8 form You can download the new form […]