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Incentivising sustainable business practices for SMEs

It’s Clean Air Day this week, so the focus of the business community is on adopting green practices to become more sustainable – but cost is always a concern. When implementing new working practices or benefits, you’ll need to plan carefully around existing cash flow strategies, as sustainable schemes aren’t always optimised for cost-effectiveness. Thankfully,…Read More

Navigating pricing strategies in a cost-of-living crisis

Setting the optimal price for your products can be difficult to navigate. When you set your price too low, you undervalue your efforts and the quality you provide. When you set the price too high, you risk potential customers walking away. Striking the right balance is crucial to ensuring both you and your customers are…Read More

Six simple ways to cut your business costs

The last few years have been challenging for many businesses across the UK. Between the aftereffects of Covid, inflation and issues with the supply chain, it has become increasingly difficult to make a profit. High or fluctuating costs can be a significant risk for any business. This is particularly true for small businesses, which often…Read More

New advisory fuel rates for electric company cars 

HM Revenue & Customs (HMRC) has recently announced new Advisory Fuel Rates (AFRs) that will take effect from 1 June 2024.   These changes include a reduction in the Advisory Electric Rate (AER) for electric vehicles – which can be highly tax efficient.  Many businesses have invested in electric fleets, which presents a slight problem for…Read More

The increase to Companies House fees: What you need to know

As of 1st May 2024, Companies House has implemented revised fees, marking a significant change in the cost structure for various services. This adjustment stems from the Economic Crime and Corporate Transparency (ECCT) Act, introducing measures that inevitably increase operational costs for Companies House. Understanding the impact The fee revisions encompass a range of services,…Read More

Using an iPhone? Keep an eye out for tax refund scammers

HM Revenue & Customs (HMRC) has warned that a new wave of fraudulent text messages is targeting taxpayers using iPhones, claiming that recipients are owed tax refunds and must supply personal information to receive them. Some recipients are also being asked to follow a link to access their refund, which is disguised to appear legitimate.…Read More

Are you ready for changes to LLP salaried member rules?

HM Revenue & Customs (HMRC) has issued its updated guidance on salaried members in limited liability partnerships (LLPs), in relation to capital contributions. Currently, LLPs incorporate elements of both partnerships and limited companies, limiting the liabilities of each partner to the amount of capital they put into the business. Partners are typically considered to be…Read More

New accounting practices outlined for LLPs

The Consultative Committee of Accountancy Bodies (CCAB) has released the 2024 edition of its Statement of Recommended Practice Accounting (SORP) for Limited Liability Partnerships (LLPs). CCAB is appointed by the Financial Reporting Council (FRC) to oversee the SORP for LLPs, ensuring that such businesses can present financial statements and accounts similar to those of other…Read More

Three great reasons to file your tax return early 

We often find that clients begin to show signs of stress when the Self-Assessment tax return deadline approaches.  This is just one of the reasons we recommend you file your return early, but there are numerous other benefits.  Here are three key reasons to consider submitting your tax return sooner rather than later:  1. Avoid…Read More

Tax-Efficient Investing: ISA and Pension Updates

Introduction: In the ever-evolving world of finance, staying informed about tax-efficient investment strategies is paramount. ISAs and pensions remain cornerstones of effective financial planning, offering distinct advantages when it comes to tax-efficient wealth accumulation. By understanding the benefits associated with these investment vehicles, you can make well-informed decisions that align with your financial goals. ISA…Read More

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