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Updated VAT road fuel scale charges from 1 May 2024

From 1 May 2024, the VAT road fuel scale charges will be updated. The new rates will need to be used from the start of the next VAT accounting period that begins on or after 1 May

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Employment Law changes in April

New employment laws came into force on 6 April 2024 that apply to all businesses.

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Generative AI: A potential game-changer for your business

Generative AI can help you unleash your creativity and drive innovation in your business.

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New R&D tax relief guidance available

For accounting periods beginning on or after 1 April 2024, a new merged scheme for research and development tax credit comes into force.

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Thinking of buying another business?

What things should you consider before entering a deal to buy another business? In this article we will look at some of the key considerations.

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Are training costs tax deductible for the self-employed?

HM Revenue & Customs have recently updated and clarified their guidance on training costs paid by the self-employed.

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Good bookkeeping: A backbone of business success

Regular bookkeeping ensures that your business’ financial transactions are accurately recorded, categorised, and updated regularly.

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Increase to small company thresholds

Thresholds based on a company’s accounts and employee numbers determine whether a company is categorised as small or not.

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Major reforms to apprenticeships announced

The Prime Minister, Rishi Sunak, has announced reforms to apprenticeships that will enable up to 20,000 more apprenticeships and could be especially welcome news to small businesses.

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Could the VAT Annual Accounting Scheme be good for your business?

VAT-registered businesses normally submit their VAT returns and payments to HM Revenue and Customs 4 times a year.

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New Companies House powers come into force

New powers for Companies House based on the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on 4 March 2024.

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2024 – The year of the SME

Small businesses are the backbone of the UK economy, comprising 99.9% of all businesses and supporting a staggering 27 million jobs across the country

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6 April - National insurance cuts – what they mean to your Business

The Spring Budget further extended the national insurance cuts first announced in last year’s Autumn Statement, bringing good news to all self-employed businesses.

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High-Income Child Benefit Charge changes mean benefits for more

The High Income Child Benefit Charge (HICBC) has attracted a lot of criticism since its introduction because of the way it penalises couples that have a single high earner.

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Salary Sacrifice: A Win-Win for Business & Employees

Salary sacrifice can be a useful tool for saving taxes for both businesses and their employees.

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VAT Flat Rate Scheme: Understanding the pros & cons

The VAT Flat Rate Scheme operates by applying a fixed percentage to your turnover to determine the VAT payable to HM Revenue and Customs (HMRC).

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Tax implications: Limited company vs Sole Trader

When starting a business, or indeed as an established business, choosing the most suitable legal structure for your business is an important thing to consider.

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Revised Code of Practice for Flexible Working Requests Expected

The Advisory, Conciliation and Arbitration Service (ACAS) has released a final draft of a new Code of Practice on requests for flexible working.

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Are you getting minimum wage payments right?

Last week, the government named and shamed 524 businesses for failing to pay the minimum wage to their staff.

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Companies House increases registration fees

From 1 May 2024 fees for registering a new company are set to rise significantly for the first time since 2016

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How can we help you?

Brearley & Co Accountants are pleased to offer a free, no obligation, initial consultation with one of our experts who will be happy to discuss your business needs and how we can help you.

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