The rising costs of private education, compounded by the introduction of VAT on school fees in January, are expected to impact more than half of children in private schools.

As anticipated, the Government has implemented several tax changes in its bid to repair public finances and raise additional revenue for funding public services.

Chancellor Rachel Reeves stated her intention to fuel public services with tax revenue, saying: “Because of the difficult decisions that I have taken on tax, welfare and spending, I can announce that I am providing a £22.6bn increase in the day-to-day health budget.” Read more here.

Speaking of a Budget that blended optimism with tough choices, Chancellor Rachel Reeves said: “This is a changed Labour party, and we will restore stability to our country again. The scale
and seriousness of the situation that we have inherited cannot be underestimated.” Find out more about the changes that affect us personally.

In Labour’s first Budget in 14 years, Chancellor Rachel Reeves presented a series of measures designed to offer targeted support to struggling sectors, promote sustainable investment, and maintain fiscal security, especially for small and mid-sized businesses. However, the reliefs are balanced by increased contributions from large companies.

The Autumn Budget was somewhat of a mixed bag for businesses. On the one hand, the Chancellor made some significant moves to shore up the Government’s finances – the largest hike in employer national insurance contributions in recent memory being a prime example. At the same time, the Budget also included some targeted support and relief for smaller firms. Read our detailed report here.

Choosing the appropriate structure for your business is one of the first and most important decisions you will make. It affects everything from your tax obligations to the level of personal liability you will face, and even how you can raise funds. If you are thinking of starting a business, or restructuring an existing business, it is worth taking a closer look at the options available to ensure you make the best choice for your business.

Personal tax compliance checks can sound intimidating. However, with the right preparation and understanding, they don’t have to be. In this spotlight, we aim to walk you through what to expect during a tax compliance check, how to stay organised and ways to handle the process smoothly.

Demand rises, but supply keeps growth in check. Buyer demand has surged by 20% compared to the previous year, with new sales agreements rising by nearly 25%.

Investors brace for capital gains tax increase. This "frenzy" of activity comes as concerns mount that the Labour administration will increase taxes to address a £22 billion shortfall in public finances.

Are you a crypto investor? The Chartered Institute of Taxation (CIOT) has emphasised the importance of accurate and up-to-date tax reporting for all crypto-asset owners.

Updated fuel rates impact UK company-car drivers. Businesses and employees alike should review these new rates to ensure they are accurately reimbursed for their travel expenses under the new HMRC guidelines.

Tax-efficient gift-giving is an essential aspect of estate planning that can significantly reduce your inheritance tax (IHT) liabilities while benefiting your loved ones. By carefully planning and utilising the available allowances and exemptions, you can ensure that more of your wealth passes on to your family and less is lost to taxes. In this guide, we’ll walk you through the essentials of tax-efficient gift-giving for the 2024/25 tax year.

Research and development (R&D) tax credits are a crucial incentive designed to encourage businesses to innovate and invest in new technologies, processes and products. Yet, despite their significance, many businesses either aren’t aware of their potential benefits or aren’t fully utilising them. We explore what R&D tax credits are, who can claim them, and how businesses can maximise their potential.

HMRC is cracking down on small and medium-sized businesses (SMEs) in 11 UK regions for potential non-compliance with the National Minimum Wage (NMW). Companies found guilty of underpaying will have to reimburse workers for NMW arrears, and face increased National Insurance Contributions (NICs).

0.25% reduction for late and repayment interests. The Bank of England (BoE) cut the base rate to 5.0% on 1 August, the first reduction in over four years.

Only 369,000 taxpayers paid CGT in 2023, resulting in a £2.5bn drop in revenue to £14.4bn. Find out more in our article.

The vote to lower the interest rate to 5.0% was close, with five members voting in favour and four against. Read more here.

A statutory audit may sound alarming, but it's a vital process that helps ensure a company's financial health and compliance. Whether you’re a small business owner or part of a large corporation, understanding what to expect from a statutory audit can ease any concerns and prepare you for a smooth experience.

As an accounting practice, we often stress the importance of having an emergency fund to our clients. An emergency fund is essential for financial stability, offering a safety net during unexpected situations such as job loss, medical emergencies, or significant repairs.

In this guide, we will outline the steps to build an emergency fund, provide tips for maintaining it, and highlight the benefits of having this financial buffer.

Labour’s campaign pledged not to raise National Insurance, income tax, or VAT, yet it proposed significant tax reforms. Read more here.