Latest Blogs

20th September 2024 Employment Rights Bill 2024: Payroll

During the King’s Speech on July 17th, 2024, it was declared that a new Employment Rights Bill was to be introduced in the next 100 days.   The key points as far as payroll is concerned are as follows: Banning exploitative zero hours contracts and ensuring all jobs provide a baseline level of security and…

19th September 2024 Payrolling Of Benefits In Kind (BIKs) To Become Mandatory

We’re sharing a reminder that payrolling of Benefits In Kind (BIKs) is to become mandatory. This may seem a long way off but will be with us sooner than a lot of companies realise. HMRC confirmed in March 2024 that it will mandate the reporting and paying of income tax and Class 1A National Insurance…

18th September 2024 Week 53: What To Look Out For

For some companies, not all, another week 53 or even week 54 will be in operation again this year.   HMRC instructs payroll software writers to operate a week one basis for week 53 so as not to penalise employees with a higher tax liability in their final payment for the tax year. However, as…

17th September 2024 Why Outsource Your Book Keeping?

Have you ever wondered why you would outsource your book keeping?   Are you fed up of doing your own VAT returns, or struggle with your accounting software? Do you find that you are not getting up to date information, as you wait until the year end for the accountant to produce the figures for…

16th September 2024 New Fuel Rates From September 2024

It’s that time of year, the new Fuel Rates are in place from September 2024.   Below we share what these are for Petrol, LPG, Diesel, Hybrid and Electric cars:   Hybrid cars are assessed under the same rules as normally aspirated cars. From June 24, HMRC will be reviewing the rates for electric vehicles…

13th September 2024 Rural England Prosperity Fund: Fenland Business Opportunity

The Fenland Rural England Prosperity Fund (REPF) is here to help business owners in Fenland looking to invest in a capital project.   How Does It Work? Eligible businesses can apply for a grant of up to £10,000 to support projects such as farm diversification, building projects, new equipment, and more. This initiative, funded by…

9th September 2024 What VAT on purchases cannot be reclaimed?

Do you know what VAT on purchases cannot be reclaimed? Most input tax incurred by VAT registered businesses can be recovered, however, there is some input tax that may not be.   A list of those areas where input VAT could be blocked is below: Where no or incorrect supporting evidence held Input tax relating…

9th September 2024 5-Oct: Self-Assessment Registration Deadline

There’s just under one month to go until the HMRC Self-Assessment registration deadline (5 October 2024) for the 23/24 tax year.   You’ll need to apply if you need to complete a tax return and have not sent one before, or did not send one last year.   If you are not sure if you…

8th September 2024 Pre-Budget Tax Planning Ideas

We share our pre-Budget tax planning ideas, as the first Labour Budget is now only 5 weeks away (30th October). There is currently a lot of speculation of adverse tax changes that the business community and private tax clients should expect. Unfortunately, we have no inside knowledge of what Rachel Reeves will say. However, as…

6th September 2024 Benefits Of Outsourcing Payroll

Have you ever wondered what the benefits of outsourcing payroll are? If you have a PAYE scheme for payroll or Construction Industry Scheme (CIS) then we could help!   Outsourcing payroll can help you keep your PAYE running smoothly while keeping costs down. How? I hear you ask, well let me explain… Benefits of Whitings…