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Do you do your own bookkeeping in Xero? – we have something that might save you some time!
Xero have recently added a new feature for posting purchase invoices from your suppliers that we wanted to share with you. In the ‘bills’ section on Xero, there used to…
Spring Statement March 2025
A balancing act In her first Budget in October 2024, Rachel Reeves promised that there would only be one ‘fiscal event’ each year – she would not make significant tax…
Changes in company size criteria confirmed
The changes in company size thresholds will come into force on 6 April 2025. This will mean some companies will fall out of the compulsory audit regime, and no longer must prepare…
How to be tax efficient as a company director in 2025/26
How to be tax efficient as a company director in 2025/26 With the changes announced in the Chancellor’s Autumn 2024 budget now coming into effect, it is important for businesses…
Goodbye P11ds!
The transition from P11D reporting to Payrolled Benefits in Kind The landscape of tax reporting has seen significant changes since the introduction of the P11D form in the 1960s. To…
How inaccurate P60s can cause tax issues
Filing a tax return is rarely anyone’s idea of an enjoyable activity, but accuracy is crucial to avoid costly penalties and unnecessary complications. Many taxpayers don’t realise that an inaccurate…
Still to do your tax return?
As we welcome 2025, there are still 5.4m taxpayers who have yet to file their 2023/24 self assessment returns, compared to 5.7m who were yet to file at the start…
Changes to lease accounting
Amendments to FRS 102 which come into effect for periods commencing on or after 1 January 2026, will have a considerable impact on how leases are accounted for lessees. The…
Changes expected to company size criteria
The changes in company size thresholds first introduced by the Conservative government are expected to come into force on 6 April 2025. This will mean some companies will fall out…
HMRC late payment interest changes
In the October 2024 Budget, the UK government announced an increase in HMRC’s late payment interest rates. Starting from 6 April 2025, the rate will rise by 1.5 percentage points,…
Autumn Budget 30.10.24 Tax Rates
Tax Rates 2024/25 Tax Cards Welcome to the 2024-25 Tax Rates Income Tax Allowances 2024/25 2023/24 Personal Allowance (PA)* £12,570 £12,570 Marriage Allowance† 1,260 1,260 Blind Person’s Allowance 3,070 2,870…
Employee Mileage Claims
In most businesses an element of business travel is involved, employees and employers can be confused about how to reimburse employees (or even themselves) for the fuel they use to…