Business News
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Improving your business finances in 2023 and beyond
Every business needs sound financial planning and oversight in order to thrive. With the new tax year just around the corner, now is the perfect time to start thinking about ways you can improve your business’s finances in 2023. Read on to learn some of our top tips for making sure your business’s finances are… Read more
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Tax considerations for gifting to grandchildren in the UK
For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But before entering into any gifting arrangement, it is important to understand the various tax considerations that come with it. In this blog post, we will discuss some of the key tax implications of gifting to… Read more
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Should I take a salary or dividends as a small business owner?
If you own a small business and are also a shareholder director, you may be wondering whether to take a salary or dividends. When it comes to paying yourself, there are both advantages and disadvantages to each option, including potential tax savings. We’ll explore how taking salaries versus dividends for shareholder directors of small businesses… Read more
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Understanding and improving your balance sheet
Keeping on top of your business’s financial health is critical to its success. A great place to start is by understanding what a balance sheet is and what it can tell you about the health of your business. Let’s look at what a balance sheet is, why it’s important, and how you can improve yours…. Read more
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A new VAT penalty system is now in effect
A major overhaul of VAT penalties came into effect on 1 January 2023. This new approach changes how penalties are applied, as well as how interest is calculated and paid. In this article, we’ll break down what you need to know about the changes. What is changing? The biggest change that businesses can expect is… Read more
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Be prepared for changes to Capital Gains Tax thresholds
The exemption for paying Capital Gains Tax (CGT) is changing. The CGT annual exemption will fall from £12,300 to £6,000 from April 2023, before being cut in half again to £3,000 from April 2024. CGT is what you pay on any gains that you make when you come to sell an asset, such as a… Read more