HMRC phone lines have been criticised as not up to the job
It will come as little surprise to anyone who has had to call HMRC in the last six months, but a report by the Public Accounts Committee has stated that HMRC was running a “deliberately poor” phone service…
New items added to the basket to calculate the rate of inflation
In order to calculate the rate of inflation, the Office for National Statistics (ONS) records and analyses a basket of everyday goods and services, looking at the prices offered by retailers to calculate the monthly rate of inflation.…
What is a P11D Benefits in kind and do you need to file one?
What is a P11D? The P11D form is a statutory form required to be filed with HMRC by those businesses that provide benefits to their employees that do not go through the PAYE system. You will also need…
What does my tax code mean? 2025/26 Edition
What exactly do all the numbers and letters in my tax code mean? And what do I do if I think it’s wrong? HMRC generate your tax code based on the information that they hold about you and…
What’s the difference between mark up and margin?
When pricing your services and products it is important that you do so in order to make a profit. Most businesses will look at either mark up or margin to come up with their prices but not everyone…
Who should be in your work place pension?
Since they were introduced in 2012 more than 20 million people have been automatically enrolled into workplace pensions. Every business that employs staff who meet the criteria should be automatically enrolling workers into a pension scheme, deducting contributions…
Tax evasion or tax avoidance?
What’s the difference between tax evasion and tax avoidance? Celebrities and sports stars alike have been in the news in recent years, hitting the headlines for their tax avoidance. But they haven’t actually done anything illegal. We will…
Business gifts for Christmas
Are you thinking of giving a business gift for Christmas? If so, make sure you know the tax implications before it ends up costing you more than you originally thought. Christmas is not that far away and you…
What interest can you charge customers on late payments?
From time a customer may pay you late, and you may be ok with that. But when the problem becomes persistent, it can effect your own cash flow and the ability to run your own business. However, you…
Autumn Budget 2024
This week saw the first Labour Budget in over a decade, and the first ever delivered by a female Chancellor. Many of the announcements did not come as a surprise whilst some others did. Not all of the…