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The Importance of Keeping Statutory Registers in the UK
In the United Kingdom, statutory registers play a crucial role in the legal and operational framework of businesses. These registers are mandated by law and serve as an official record of various essential details concerning a company. Their importance cannot be...
The 2022 Harvest – benchmarking
We have now completed our gross margin accounts for the 2022 harvest across our portfolio of arable clients. The database for 2022 is based on an area of over 90,000 acres.
Pension Death Benefits – remaining in pension
Since 2015, more clients have been using pensions as tools for passing money down the generations. It is generally assumed that because the money is in a pension, it can pass down and remain within the pension wrapper, but this is not always the case. Too often, it is...
Capital Gains Tax – In the news
There continue to be significant changes to the already complex Capital Gains Tax (CGT) rules. Capital Gains Tax explained CGT applies where you dispose of particular capital assets at a profit. The rates charged depend on your level of income and the type of...
Trade and Customs: Commodity Codes
A figure of Captain America (think Marvel comic books), the Tin Man, some Norse gods and Grey Worm from ‘Game of Thrones’ all came before the tax tribunal recently. It was a case about commodity codes, and the dispute turned on whether they were dolls representing...
What employers need to know
In England, Scotland and Wales, new rules impact the following areas: Holiday pay and entitlement: irregular hours and part-year workers Almost everyone classed as a ‘worker’ — a definition going wider than just employees — is legally entitled to 5.6 weeks’ paid...
HMRC eyes potentially underdeclared dividend income
HMRC is using its data analytic powers to contact taxpayers where it thinks there’s a chance that income has been overlooked. What it’s interested in is income from distributions or dividends. It has been looking at company accounts, and where it has identified a...
Budget Surprises
If they weren’t exactly rabbits out of the hat, Spring Budget 2024 still sprang its share of surprises. VAT registration limit Having been frozen at £85,000 since 2017, the VAT registration threshold wasn’t expected to change until at least March 2026. The Chancellor...
National Insurance: where are we now?
Spring Budget 2024 announced further cuts to National Insurance contributions (NICs) taking effect from the start of the tax year, 6 April 2024. It’s the second cut announced, and impacts employees — including company directors and the self-employed. We outline the...
Minimum wage
A reminder that minimum wage rates changed on 1 April 2024. The new hourly rates are: £11.44 for workers aged 21 and over (this rate is referred to as the National Living Wage); £8.60 for those aged 18 to 20; £6.40 for those under 18 and over school leaving age. This...
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