In his 2023 Autumn Statement to the House of Commons yesterday, Chancellor Jeremy Hunt announced tax reductions for businesses, employees, and self-employed individuals. For businesses investing in IT equipment, plant and machinery, Mr. Hunt has decided to extend Full Expensing, which enables businesses to receive a 25p corporation tax rebate for every £1 they invest.
Chancellor Jeremy Hunt has today disclosed the specifics of his Autumn Statement in the House of Commons. This comprehensive declaration outlines the government’s strategy for taxation and expenditure for the upcoming year. The Autumn Statement is set to influence not only the net earnings and household budgets of millions around the UK, but also dictates
One question we often encounter from Company Directors is – what’s the best way for you to pay yourself from your Limited Company’s earnings? If you’re a Limited Company Director, you have three main options for paying yourself – taking a salary, issuing dividends, or doing a bit of both. The best option for you
A dividend is a payment a company can make to shareholders if it has made a profit. This profit is what remains in the business once all taxes, expenses and liabilities have been paid. Who can be paid a dividend? When you start a business, you will need to appoint shareholders and assign shares. You
What is your background? How did you get into Accountancy? I’ve always been pretty good at maths and I really enjoyed it at school. During a conversation with a friend who was studying AAT, they suggested that I consider pursuing a career in accountancy which influenced my decision to go down this path. What does
If you are unable to pay your tax bill in full, you might be able to arrange for a monthly payment plan using HMRC’s “Time to Pay” service. The Time to Pay system was set up to help individuals struggling to pay their bills in full and it allows self-assessment taxpayers to manage how they
Business groups are asking for action and Conservative MPs want to see tax cuts in the upcoming Autumn Statement due to take place on Wednesday 22 November in the House of Commons. Chancellor Jeremy Hunt has warned that there will be some difficult decisions being made in the upcoming statement due to a sharp decline
Many people make regular donations to charities, but are unaware that they can claim back the tax on the money they give. As long as the organisation is a registered charity or a community amateur sports club (CASC), then you get tax relief on the donation you make. When making donations as a Limited Company
During the month of July, we were delighted to be the primary sponsor for Chichester BID’s Proudly Independent, Proudly Chichester campaign, which was an initiative created to celebrate and support the city’s independent business owners. As an independent business ourselves, with an office right in Chichester city centre, we are hugely passionate about supporting local
For our next Client Feature, I spoke to Becca Stisted owner of HOST, an independent, speciality, small batch coffee roastery based in Chichester. Tell us a little bit about your business, how it started etc? Forever I have championed the independent coffee shop as a customer and, as someone who is interested in the ‘behind-the-scenes’
HMRC has reinstated its self-assessment helpline as of Monday 4th September, after a three-month closure. The temporary closure was put in place on 12 June to give HMRC time to deal with more urgent phone enquiries by reallocating staff to other departments as the helpline generally receives fewer calls over the summer. Taxpayers were encouraged
If you are self-employed and haven’t submitted a tax return before, you must register for self-assessment by 5 October 2023. The deadline for completing self-assessment tax returns for 2022-23 is 31 January 2024. You must tell HMRC by 5th October if you need to complete a tax return and you have not sent one before,
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