If you missed the self-assessment tax return deadline, you’re not alone—over 1.1 million people did. However, a recent change in the Bank of England’s base interest rate means HMRC’s late payment interest rates are set to decrease. Here’s what you need to know.Lower Late Payment Interest RatesThe Bank of England has reduced the base rate […]

The deadline to fill gaps in your National Insurance (NI) record and potentially increase your state pension is fast approaching. You have until April 5, 2025, to make voluntary contributions covering gaps as far back as 2006.With less than six months remaining, now is the time to act if you want to maximize your retirement

Buried in the Autumn Budget is a significant tax change for double cab pickups, which will soon be classed as cars for tax purposes This marks yet another dramatic U-turn following a tumultuous year of policy shifts, leaving businesses and drivers grappling with the implications. What’s Changing? Starting 1 April 2025 for corporation tax and

Mortgage costs are climbing, with the average rate for a two-year fixed deal now at 5.5%, even after the recent Bank of England base rate cut. Major lenders like Barclays, HSBC, NatWest, and Nationwide have all increased rates on new fixed deals, frustrating borrowers who hoped costs would consistently decrease. Events like the recent Budget

Inflation in the UK slowed to 1.7% in the year to September 2024, the lowest rate in over three years, providing some relief to households and businesses. However, even with this decline, prices are still rising, just at a slower pace. Here’s a closer look at what inflation means, how it’s measured, and how it

The UK economy grew by just 0.1% in the three months to September A figure that falls short of the modest 0.2% growth economists had predicted. This slowdown follows a stronger 0.5% growth in the previous quarter, raising concerns about the country’s financial health and its impact on businesses, households, and government revenues. Here’s what

Running a business involves juggling countless responsibilities, and managing finances is often one of the most time-consuming and stressful aspects. While some entrepreneurs may attempt to handle their accounting on their own, professional accounting services can provide invaluable support that goes far beyond just crunching numbers. Here are the top five reasons why your business

Capital Gains Tax (CGT) may sound like complex financial jargon, but it’s simply a tax on the profit you make when you “dispose” of an asset. Disposal usually means selling an asset, but it can also apply to giving it away, swapping it, or receiving compensation for its loss. While this might sound daunting, CGT is

In a move aimed at supporting the lowest-paid workers and driving economic growth, the Chancellor has announced a significant increase to the National Living Wage.  Starting in April 2025, over three million workers will receive a pay boost as the National Living Wage rises from £11.44 to £12.21 per hour. This 6.7% increase aligns with the

Effective payroll management is essential for every business, making sure employees are paid accurately and on time while maintaining compliance with UK legal and tax requirements. However, with tax codes evolving and increasing demand for digital solutions, it can be challenging to stay on top of payroll processes. Here are some best practices to streamline payroll