The way landlords report their income to HMRC is set to change significantly. The government’s Making Tax Digital (MTD) initiative is part of a broader move to modernise the tax system, making it more efficient, accurate, and accessible. For landlords, this means moving away from annual paper-based submissions and instead keeping digital records and reporting
PAYE (Pay As You Earn) is the system that employers use to deduct income tax and National Insurance from employees’ wages before paying them. It’s designed to keep things simple—employees don’t have to calculate their own tax, and payments go straight to HMRC. However, mistakes can happen. If an employer uses the wrong tax code,
Below is a link to our 2025/26 Tax rates card, offering a comprehensive overview of essential rates and allowances that impact both our business and personal financial lives. This handy resource covers a wide range of topics, including income tax rates, as well as insights into property, inheritance, business, employment, and capital gains taxes. You
Chancellor Rachel Reeves unveiled the 2025 Spring Statement to Parliament on Wednesday 26 March. A key theme in the Spring Statement was economic growth, with the Chancellor highlighting upcoming plans across several areas, including: Here’s our summary of key points: Welfare & Benefits Economic Forecasts Housing Public Spending & Rules Defence & Aid Public Sector
As we enter a new financial year, tax year planning becomes an essential part of getting your finances in order. Whether you’re self-employed, employed, or managing multiple income streams, understanding what allowances are available – and how to use them – can make a huge difference. From ISAs and pensions to dividend income and capital
As businesses continue to embrace technology, digital accounting is becoming a crucial part of financial management. Modern tools and automation are streamlining processes, improving accuracy, and giving business owners real-time insights into their finances. With our new status as Xero Platinum Partners, we’re committed to helping your business grow with modern, tech-savvy solutions. Here are
The 31st January tax deadline has come and gone. If you made the deadline—well done! If you didn’t, don’t panic—there are still steps you can take to get back on track. But either way, now is the perfect time to start planning ahead so next year’s tax return is stress-free and straightforward. By breaking the
At Blue Spire, we are thrilled to announce that we have achieved Xero Platinum Partner status, the highest tier within Xero’s partner program. This prestigious recognition underscores our commitment to excellence in cloud-based accounting and brings significant benefits to our clients. Understanding Xero’s Partner Program Xero’s partner program is designed to acknowledge accounting firms that
Rachel Reeves made history yesterday, delivering the 2024 Autumn Budget as Labour’s first female Chancellor. Her proposals target a £22bn gap in public finances, with new tax measures expected to raise an estimated £40bn. Here are some of the major changes: 1. Personal Taxes 2. Business Taxes 3. Wages, Benefits, and Pensions 4. Transport 5.
Running payroll in-house can be a bit of a minefield for businesses, especially for those who don’t have dedicated financial staff or expert accountants on hand. Payroll is one of the most crucial parts of managing a business, as it directly impacts employee satisfaction and business compliance. But, as straightforward as it may seem, payroll
What is your background? How did you get into Accountancy? My first step into accountancy was actually a bit of a happy accident! When I was a teenager, I had a job as a receptionist, and the accounts team would sometimes ask if I could help them out with bits of their work. That was
Corporation Tax is the tax that companies pay on their profits. It used to be straightforward, with all businesses in the UK paying a flat rate of 19%, but recent changes mean different rates now apply depending on how much profit your company makes. Here’s a breakdown of the current rates, how they work, and
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