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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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HMRC advisory fuel rates for company car users from 1 March 2024

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 March 2024

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Nature benefits from new legal requirement for developers

All major housing developments in England are now required to deliver at least a 10% benefit for nature

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Year-End Tax Planning: Maximising benefits for your business

We are now within the final two months of the tax year, and for many businesses, the end of the tax year is also the end of the business’s financial year

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Tax scam phone calls, emails and text messages

HM Revenue and Customs (HMRC) have recently published updated their guidance on how to identify tax scams made by phone, email, or text.

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Unlocking efficiency and growth: The benefits of cloud accounting

Over recent years, one of the revolutionary tools that has transformed the way businesses manage their finances is cloud accounting

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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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