Latest Blogs in General Practice
Nick Edgley
11th April 2024 Do you need to re-register for Child Benefits?

If you’ve heard about the changes post 5 April 2024 and are wondering whether you need to re-register for Child Benefits, this is the blog post for you.   If you have been affected by the increase in the High Income Child Benefit Charge cap to £60,000, then you may need to restart your Child…

Angelica Ferentinos
9th April 2024 Child Benefit changes – What you need to know

The new Child Benefit changes came into effect on 6 April 2024, with families receiving up to £1,331 per year (for the first or only child), and up to £881 per additional child, increasing by £83.20 and £54.60 respectively on the year before. This is paid directly into your bank account every 4 weeks. There…

Ian Piper
13th March 2024 £30k grants available for East Cambs SME’s

The Cambridge and Peterborough Combined Authority have announced a new grant initiative, which they have initially funded with £310k. Grants of between £5k and £30k are available to businesses that meet the following key criteria: Project criteria: Safeguard jobs Bring new products to market Invest in new technologies, processes or measures to improve productivity Eligible…

Harriet Sim
7th March 2024 Spring Budget 2024: For Individuals

Let’s look at the 2024 Spring Budget for individuals. With the next general election on the horizon, Jeremy Hunt had no choice but to deliver an impactful Budget. Here is a summary of the main changes affecting individuals:   Class 1 National Insurance A fresh cut to primary Class 1 National Insurance contributions for employees from…

Mike Blackledge
6th March 2024 Spring Budget 2024: For Businesses

Spring Budget 2024, a Budget to lower taxes and achieve higher growth.   The Chancellor has announced that there is good news for the economy, with the Office for Budget Responsibility (OBR) confirming that inflation is currently at 4% and is likely to reduce below the Governments target of 2% in the next few months.…

Hannah Wisbey
5th March 2024 23/24 Pension Contributions: Act Fast

With the tax year end approaching, we are busy assisting our clients with end of year planning. Pension contributions before 6 April 2024 are a valuable planning tool for all taxpayers, whether they are self-employed, Company directors or employees. Additionally we also have opportunity to support our clients when it comes to occupational schemes which,…

Ian Piper
23rd January 2024 HMRC ‘Nudge Letter’ Targets

The HMRC “Nudge Unit”, previously called the Behavioural Insights Team, was a team within the Cabinet Office that was tasked with improving government services and saving money by employing a blend of behavioural economics and psychology.  An example of this in practice is the so-called “nudge” letters (referred to by HMRC as ‘one-to-many’ letters) HMRC…

Amanda Newman
24th November 2023 Dividends Vs Salary: Directors

With the reduction in employees National Insurance (NI) through the Autumn Statement, to 10% and the drop in the dividend allowance to only £500 from April 2024. Alongside the previously announced rise in Corporation Tax rates. The question directors will ask again is, am I better paying myself a higher salary rather than dividends?  …

Liz Simpson
27th September 2023 HMRC increase interest rates

Until inflation is under control, HMRC have no option but to adjust their interest rates in accordance with changes decreed by the Bank of England.   There are two rates to consider, both linked to the Bank of England base rate: Late payment interest, set at base rate plus 2.5% Repayment interest, set at base…

Ian Piper
1st September 2023 SME Growth: Crisis, what crisis?

[Data Source] Now that we are well into preparing 2023 year end accounts for our business client, we are getting are a proper feel of what is happening out there growth wise.  As can be seen from the above, SME’s had a strong 2022, growing by 11%, as they caught up lost sales from the…