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Taxpayers given more time for voluntary National Insurance contributions

The UK government has extended the voluntary National Insurance deadline to 31 July 2023 to give taxpayers more time to fill gaps in their National Insurance record and help increase the amount they receive in State Pension.

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Tax Planning opportunities ahead of the new tax year

The new tax year starts 6 April 2023, so you have limited time to consider your options and once we pass this date, the majority of the tax planning options for Income Tax and Capital Gains Tax purposes will cease unless actioned this month.

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Chancellor to use Budget to get people 'back to work'

Chancellor Jeremy Hunt will use the Spring Budget to remove the barriers that prevent some groups of people from returning to the workplace, according to a statement from HM Treasury.

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Know where your old stamps are?

Royal Mail have added barcodes to their regular stamps. Regular stamps without a barcode will no longer be valid after 31 July 2023.

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New VAT penalties and interest payments

The new penalties will impact businesses who submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the penalties are due by 7 March 2023.

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Fuel duty hike 'could have big consequences for small firms' says FSB

The Federation of Small Businesses (FSB) has warned that the upcoming increase in fuel duty could have significant consequences for small firms.

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Plastic Packaging Tax - Do you need to register?

Plastic Packaging Tax (PPT) was introduced on 1 April 2022. If you manufacture or import 10 or more tonnes of plastic packaging within a 12-month period you must register for PPT on GOV.UK, even if your packaging contains 30% or more recycled plastic.

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HMRC advisory fuel rates for company car users from 1 March 2023

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 March 2023, with a further rise in the electric car rate

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Power up your business with Innovation

Innovation has generally been recognised as essential for value creation, both for individual companies and for the UK economy.

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Managing your cash flow is essential right now

With ever increasing supplier prices, a recent rise in interest rates, and a looming recession, managing your business’s cash and understanding the flow are now vital tools in maintaining resilience and being able to adopt flexible strategies for success.

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New law gives employees more say over their working hours

The UK government has supported the recently introduced “Predictable Terms and Conditions” Bill, which will bring forward changes for tens of millions of workers across the UK.

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UK Government to crack down on ‘fire and rehire’ practices

The government is taking action against unscrupulous employers that use the controversial practice of ‘fire and rehire’, it has announced.

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Minimum Wage rates increase from 1 April 2023

Employers should be aware that all minimum wage rates increase on 1 April of each year. This includes all National Minimum Wage rates and the National Living Wage rate.

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Can you reduce your 2021/22 Tax Bill?

If you would like to legitimately reduce your 2021/22 tax bill that you have just paid, or your bill for 2022/23, you might want to consider investing in shares in qualifying Enterprise Investment Scheme (EIS) companies

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A Plan to Save SMEs

I remember learning about Just in Time at college. It amazed me that the purchase of a carrot at a supermarket in Rotherham would immediately result in Jethro extracting its replacement from a field in Lincolnshire.

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Tax receipts total £553 billion as threshold freeze bites

Total tax receipts have hit £553.2bn so far this year, up £48bn on the same period a year earlier, with a £1.7bn boost from the windfall tax on energy producers

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Inflation falls slightly to 10.5%

The rate of inflation may now have peaked but the cost-of-living crisis continues to put pressure on businesses and households, says the Confederation of British Industry (CBI).

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HMRC cracks down on rogue repayment agents

HMRC is taking immediate action to clamp down on rogue repayment agents who entice taxpayers into agreements to reclaim overpaid tax while taking large commissions

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Energy support for business cut from April

Businesses, charities, and the public sector will receive limited energy discounts from 1 April in a year-long £5.5bn package announced by the Chancellor

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Crypto gains must be included on tax returns

It is important to report gains on crypto assets, such as Ethereum, Bitcoin and non-fungible tokens (NFTs), on tax returns as they are subject to income tax and capital gains tax (CGT)

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