THE LATEST NEWS AND EVENTS

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.

Bank of England cuts interest rates; CGT take falls by £2.5 billion; HMRC cuts late payment interest rate; and businesses targeted for NMW compliance.

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. At our practice, we believe that understanding the rules around gift-giving is key to making informed decisions. 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 Inheritance Tax recovery soars; London ranked 8th most expensive global city; Council Tax debt crisis escalates; and Labour's landmark election victory.

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.

This handy document outlines all the key rates and allowances for the 2024/25 tax year.

HMRC contacts pending for claimants; house prices rise slightly again; media sector faces scrutiny from HMRC; and only 13% of Bounce Back Loans paid off.

Deciding to become an employer is a significant milestone for any business. It marks a phase of growth and the need for additional support. In this guide, we will explain what becoming an employer entails, the steps required, the key considerations, and the changes that come with this decision. We’ll also consider the pros and cons to help you make an informed choice.

Capital gains tax (CGT) is the tax on the profit you make when you sell or ‘dispose of’ an asset that has increased in value during your ownership. It is important to note that the tax is levied only on the gain made from the sale, not the total sale price. This guide will examine CGT in-depth, covering everything from how it is calculated to the allowances, exemptions, and reliefs available. By understanding these subtleties, you can plan better, be tax-compliant, and potentially save a lot of money. 

The Dains Group announces the acquisition of Condies Chartered Accountants in a move that underscores their commitment to the Scottish market.