Savers face squeeze as interest rates rise
While the rise in interest rates is welcome to many, savers are facing the prospect of paying tax on their savings for the first time in some years. Rises in…
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Tax considerations for gifting to grandchildren in the UK
For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But before entering into any gifting arrangement, it is important to…
Should I take a salary or dividends as a small business owner?
If you own a small business and are also a shareholder director, you may be wondering whether to take a salary or dividends. When it comes to paying yourself, there…
Understanding and improving your balance sheet
Keeping on top of your business’s financial health is critical to its success. A great place to start is by understanding what a balance sheet is and what it can…
A new VAT penalty system is now in effect
A major overhaul of VAT penalties came into effect at the beginning of 2023. This new approach changes how penalties are applied, as well as how interest is calculated and…
MTD for ITSA is delayed. Should you still go ahead with cloud accounting?
Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will now come into effect in April 2026 for businesses, self-employed individuals, and landlords with gross business and/or property income…