Income Tax Thresholds Frozen until 2028
Since the release of the Spring Budget 2023, there has been extensive online discussion about the stealth tax increases resulting from the tax threshold freeze. Concerns have been raised regarding the rise in minimum wage standards coupled with the freeze in tax...
Beware: Till Systems and Undeclared Sales
Do not overlook recent correspondence: A letter to businesses using Electronic Sales Suppression (ESS) in the UK Recently, HMRC has been issuing notification letters to businesses suspected of abusing the ESS. If you have also received a similar letter, please do not...
Apply for an Advance Valuation Ruling
If you are engaged in cross-border trade or operating an online store, you may need to import goods into the UK from time to time. Generally, you need to accurately calculate the value of the goods and declare them to customs. Valuing goods is an extremely complex...
8 Fun Facts about VAT in the UK
If you're running your own business in the UK, it's essential to have knowledge of Value Added Tax (VAT). Just this year, VAT in the UK celebrated its 50th birthday. You might want to take a different perspective to understand VAT, as there are some interesting...
Is the UK interest rate about to rise?
Recently, there have been reports that the Bank of England will continue to raise interest rates to 4.5% in order to control inflation. Interest rates play a crucial role in the functioning of any economy, and the United Kingdom is no exception. However, high interest...
Demystifying VAT for SMEs in the UK
If you operate a small or medium-sized enterprise in the UK, you may need to pay attention to Value Added Tax (VAT) issues. Most of our clients are concerned about whether VAT registration will cause more trouble for their businesses. Our accounting team provides...
Bookkeeping Service in the UK
If you are running a store or business, you may need to spend a lot of time managing finances. In order for your business to maintain a sound operating model, you need to not only understand revenue and expenditure, but also ensure compliance. Therefore, to reduce the...
Online Sellers Targeted for Unpaid Tax
Thousands of online sellers will receive nudge letters from HMRC. This will include sellers active on eBay, Facebook Marketplace and Etsy. When you get this letter you probably want to know why and act as soon as possible.Why are you receiving this letter? Since more...
Sole Traders Expenses In the UK
With rising prices, sole traders are feeling the pressure of higher operating costs. It's important to review your financial situation and pay attention to hidden benefits that can help reduce the pressure during tough times.As prices continue to rise, should we...
UK Tax Credit Renewal: Update by July 2023
Starting next week, HMRC will send out annual update packages to those who have applied for tax credits. The entire process will last for a month. If you have received a letter from HMRC, please pay extra attention and complete the update on time. In addition, you...
