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If you are self-employed you may want to consider forming a limited company. A limited company can be an effective way to shelter profits, especially if immediate access to them is not required. 

Tax year 2023/24 brings important adjustments to the way tax liability is calculated for unincorporated businesses. The change is called basis period reform.

Report warns ‘millions would struggle’ in cashless society, and consumer group issues fraud warning on online shopping scams

Employment status and employment rights are knotty issues.

HMRC carries out checks on employers as part of its compliance procedure, visiting business premises to inspect records, and also to engage directly with workers to make sure they’re receiving what is legally due to them.

It’s now a year since major change to the off-payroll working (OPW) rules. The OPW regime requires a decision on employment status to be made for tax purposes, broadly analogous to the decision required by the IR35 regime for those working through an intermediary, typically a personal service company.

Change to the National Insurance (NI) regime makes major demands on employers. It amounts to much more than making sure payroll systems are crunching the right numbers.

Despite the UK’s drive to reach net zero by 2050 being high up the policy and news agendas, the majority of SMEs in the UK do not understand how ‘carbon jargon’ applies to their businesses. So, what do these terms mean?

‘The Chancellor will not make significant tax or spending announcements at the Spring Statement, unless the economic circumstances require it.’

The Treasury recently announced that it intends to recognise stablecoins as a valid form of payment as part of wider government plans to ‘make Britain a global hub for cryptoasset technology and investment’. Here, we consider cryptoassets in greater detail.

For small businesses one of the most welcome announcements from this year’s Spring Statement was the increase to the Employment Allowance. Chancellor Rishi Sunak raised the allowance from £4,000 to £5,000, which the government says will benefit around 495,000 businesses, or almost a third of all UK firms. We look at the Employment Allowance, who is eligible and how to claim.

The government’s Help to Grow: Digital scheme offers a 50% discount, to a maximum of £5,000, on a range of approved software.