Last month, we were joined by Dan, who was with us to complete his work experience. Dan is interested in a career in accountancy, so it was fantastic to be able to share our enthusiasm and teach him a little bit about accounts and tax! Dan has written this article about his experience.
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From 1 October 2024, the Employment (Allocation of Tips) Act 2023 (the Tipping Act) came into force.
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If you're running a creative business in the UK, you might be missing out on some tax relief opportunities. Creative industry tax reliefs represent a significant opportunity for UK creative businesses to reduce their tax burden while investing in their craft. Whether you're making a film, developing a video game, or staging a theatrical production, these reliefs could put money back in your pocket.
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It’s early summer – we’re into the new tax year. Most people won’t have started thinking about their personal tax return yet. But, did you know that if you get your return in before 31 July and your liability is lower than it was last year (and assuming you haven’t elected to reduce your payments already), the amount you owe on 31 July as a payment on account will automatically reduce as a result?
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It’s officially summertime, the sun is shining and you’re looking forward to that well-earned holiday. Except, before you can down tools and log off for some R&R, you’re faced with the prospect of returning to the task of accounts preparation for not one, but several entities.
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If you haven’t received a letter from HMRC already, you’ll be receiving one very soon.
The starting date of Making Tax Digital for Income Tax (MTD) is less than a year away and with its additional administration and cost for the taxpayer, it is the single biggest change to the taxpayers’ reporting obligations since the introduction of self-assessment. Preparation is key… and we can help!
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To be successful in a game of chess, it requires strategy: thinking ahead and planning your next move. Where R&D claims are concerned, it is more important than ever for company directors and their accountants to be looking ahead and planning their moves since the introduction of the advance claim notification – a requirement that many people remain unaware of.
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This week has been a first for the FW office, as we were joined by Joseph, who was with us for the week completing his Year 10 work experience. It was an absolute pleasure to host him, and we were all incredibly impressed by his maturity and eagerness to learn (as well as his biscuit eating ability!). Joe has written an article all about his experience.
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Chancellor of the Exchequer Rachel Reeves delivered an update on the economy in her first Spring Statement last week, promising no further tax rises and a commitment to her earlier pledge of only one major fiscal event per year. Income Tax, employee National Insurance contributions and VAT remain unchanged, with the focus of the Statement being on economic growth.
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We continue to see the popularity of hybrid working and many more people are working from home regularly in the post lockdown era, whereas pre 2020 this may not have been an option. This might lead to a small but worthwhile tax saving opportunity.
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