Category: Virtual Support

Big Tax Changes for Double Cab Pickups in 2025 – What You Need to Know.

As the tax year draws to a close, it’s easy to get caught up in things outside of our control.

When trying to do something nice for your employees, like a day out, a celebratory dinner or perhaps a gift for a baby shower, the last thing you want to do is affect their PAYE tax code; paying tax on a gesture takes the shine off!

If you’re a new parent, congratulations! Apparently, around 2,000 babies are born on 26 September each year – more than any other day.

HM Revenue and Customs (HMRC) have issued a press release debunking some common myths about whether or not someone needs to register to complete a self-assessment tax return.

Effective from 1st June 2024.

Keeping your accounting records up to date can feel like a chore, but when your bookkeeping is kept up to date, you and your business can gain some significant benefits.

VAT is a key factor for businesses, impacting cash flow and administration. The VAT Flat Rate Scheme (FRS), available to businesses with a turnover of £150,000 or less, offers simplified VAT accounting. However, its adoption requires careful consideration.

Exciting news for entrepreneurs! HMRC has overhauled its rules regarding tax relief for training programs, presenting fresh avenues for enhancing skills and professional growth. This update underscores the importance of investing in your expertise, not only for business advancement but also as a savvy financial strategy!

Penalties can be severe for failure to report CGT arising from residential property within 60 days.