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Bank of England reduces base rate to 5%

As anticipated, the Bank of England reduced their base interest rate on August 1 from 5.25% to 5%.

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HMRC conducting Business Asset Disposal Relief checks

The Institute of Chartered Accountants in England and Wales (ICAEW) have reported that HM Revenue and Customs (HMRC) are contacting taxpayers they believe may have overclaimed Business Asset Disposal Relief.

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VAT on school fees from January 2025

As the Chancellor was speaking in the House of Commons the Treasury published draft legislation on VAT for private school fees with forestalling measures from October

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Business group lists five 'key priorities' for removing trade barriers

The Federation of Small Businesses (FSB) has outlined five 'key priorities' for removing barriers to exporting for small and medium-sized enterprises (SMEs).

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Making HMRC pay for poor service

In recent months and years the decline in service standard from HMRC has been notable, but did you know that it is possible to complain about HMRC and even receive compensation?

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Changes to HMRC Helpline Services for Construction Industry Scheme

HMRC helplines will no longer deal with requests for payment deduction statements (PDS) for the Construction Industry Scheme

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Chancellor’s Speech: What are the Tax and Compliance Implications?

The new Chancellor of the Exchequer, Rachel Reeves, has delivered her first speech as Chancell oroutlining her plans for revitalising the UK economy

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Growth Guarantee Scheme now open for applications

The successor to the Recovery Loan Scheme, the Growth Guarantee Scheme, has now been launched by British Business Bank.

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Important Update: New Digital Service for Veterinary SICs

Starting 15 July 2024, all Special Import Certificate (SIC) applications must be submitted through a newly launched digital service.

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Could employee ownership be the answer for your business?

Transitioning to employee ownership is not only a strategic move to secure the future of a business but also a way to foster a more inclusive and motivated workforce.

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New rules on distributing tips

On 1 October 2024, the Employment (Allocation of Tips) Act 2023 will come into effect, introducing significant changes to how tips are managed and distributed in the hospitality industry.

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Reminder: P11D form submission deadline rapidly approaching

The deadline – 6 July – for reporting expenses and benefits to HM Revenue & Customs (HMRC) is rapidly approaching.

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Are you ready for a cyber attack?

The National Cyber Security Centre (NCSC) provides an ‘Exercise in a Box’ online tool that can help businesses check how resilient they are to cyber attacks as well as practise their response in a safe environment.

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Beware of false claims on business rates appeal deadlines

The Valuation Office Agency (VOA) has issued a warning about false claims being made about the deadline for appealing the 2023 list for business rates.

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Invest in Women Hub launched

If you are a female entrepreneur in the UK, you can now access a new resource designed to help you access the finance you need to start, grow, and scale your business.

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Buying a second home: what should you think about?

As accountants, we are often asked about the financial and tax implications of buying a second home.

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More indicators of a cut in interest rates to come

The Bank of Canada announced a cut of a quarter of a percentage point to its key interest rate last week, bringing the rate down to 4.75%.

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Report Employee Benefits on Form P11d by 6 July

P11d forms for reporting expenses and benefits in kind provided to employees and directors in 2023/24 need to be submitted by 6 July 2024.

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Navigating GDPR

The General Data Protection Regulation impacts business worldwide.

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Financing business asset purchases: Lease, Contract Hire or Hire Purchase?

Choosing how to finance your new asset doesn’t have to be complicated. By considering your businesses cash flow, how long you’ll need the asset, and whether ownership matters, you can pick the best option for you.

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