Corporation Tax Making Tax Digital (MTD) Rates relief Inheritance Tax (IHT) Capital Gains Tax (CGT) National Insurance and Employment allowance Capital Allowances 'Full expensing' deduction for leased assets VAT Thresholds Furnished Holiday Lettings (FHL)
Sustainability in the Workplace: The Benefits of Loft Insulation in Your Office
In today’s world, sustainability is more than just a buzzword—it’s a responsibility. For businesses looking to reduce their environmental footprint, installing loft insulation in office buildings is a smart, impactful step. Loft insulation helps to minimise heat loss by creating a barrier between
A comprehensive guide to the VAT Penalty Regime
It is crucial for businesses to stay informed about the significant updates to VAT penalties and submission requirements that took effect from January 1, 2023. These changes mark the introduction of a new penalty regime for late submissions and payments, the discontinuation of the Default Surcharge,
Boost Your Retirement Savings and Reduce Company Tax: Pension Contributions for Limited Company Directors
What is a Pension? A pension is a smart way to save for your future when you're no longer working. There are two main types: Personal Pension: You set this up yourself with a pension provider. Workplace Pension: Your employer contributes alongside you, usually by deducting a portion from your
The EU Cracks Down on AI: What You Need to Know
While Hollywood paints a picture of AI leading to robot uprisings, the EU is taking a more practical approach, focusing on the real-world risks associated with AI technology. The newly implemented EU Artificial Intelligence Act aims to regulate how AI is used across industries, ensuring it doesn't
P11D Expenses & Benefits Explained for Employers
What are P11D forms? These forms report expenses and benefits given to employees that haven't been taxed yet. Your company needs to submit them to HMRC (the UK tax authority) annually. Who needs a P11D? Not everyone. Taxlab can advise you on this based on your specific situation. There are two P11D
Going Solo? Get Registered For Self Assessment Quickly
Starting your own business is exciting! But before you dive in, there's one key step: registering as self-employed with HMRC. This ensures you pay the right taxes. The good news? It's: Simple: The registration process is straightforward and hassle-free. One-time: You only need to register once,
Spring Budget 2024: Key Points and Upcoming Details – The Chancellor’s Final Spring Statement
This was the Chancellor's final Spring Budget before the upcoming election. He emphasized reforms focused on building a tax system that is: Simple and understandable: Making it easier for everyone to navigate the tax code. Fair and equitable: Ensuring everyone contributes their fair
Navigating the National Minimum Wage in the UK: A Guide for Businesses
As accountants, we know keeping up with complex regulations is paramount for your business's success. One crucial area? The National Minimum Wage (NMW). With changes on the horizon, here's a quick refresh to ensure you're compliant: Understanding the Basics The NMW sets the legal minimum hourly pay
Unlocking Opportunities: A Guide to Small Business Grants in the UK
Starting a small business can be a challenging but rewarding venture, and in the UK, entrepreneurs have access to a range of financial support through grants and loans. These resources play a crucial role in nurturing the growth of small enterprises, providing a financial foundation for innovative