Blog
Keep up to date with our latest Industry Insights
With so many changes happening in our day-to-day lives, it’s comforting to know you can turn to a valuable resource to keep you updated on all the things which may affect your business.
Right shares, right time?
For start up businesses, it is important to think very carefully about who initial “founder” shares are issued to and consider future “what if” scenarios and how they might be dealt with.
Succcession – How planning ahead is the best option
The succession of the farm is often on the minds of those of whose farm has been in the family for many generations. Not only is it a wish that they would like the farm to continue within the family but also to provide an inheritance to any of their non farming children.
Holiday pay calculation simplified
The Government’s response to consultations on holiday pay for irregular hours workers has simplified the process. The new ruling effective from 1st April 2024, reinstates the 12.07% calculation method. This means that for every hour worked by staff, they accrue holiday leave and pay at a rate of 12.07%.
HMRC enforces tighter rules on side hustles
In a bid to tighten tax regulations and combat tax evasion, HMRC has introduced legislation that will impact sellers on platforms such as eBay, Vinted, Etsy Airbnb and Uber. As of 1 January 2024, many digital platforms are now mandated to collect and share transaction and seller details with HMRC
How Financial Modelling can improve business performance
Financial modelling can help businesses unlock information that can be the key to their strategic advantage.
Are you one of the 12 million people that HMRC are expecting to file their tax return by the 31/01/2024?
Planning ahead is key and we advise clients against delaying the filing of returns until the last minute so that they can relax and enjoy the festive season.
HMRC Self-Assessment helpline update
HMRC are changing the way they support customers and agents through their Self-Assessment (SA) helpline. With this in mind, we would urge our clients to get in touch as soon as possible if they have personal tax issues to resolve.
Self assessment threshold increased
HMRC has announced a major shift in tax procedures, exempting high earners with PAYE income exceeding £150,000 from self-assessment tax returns starting in the 2024/25 tax year.
This change, following the recent threshold increase from £100,000 to £150,000 for 2023/24, is expected to benefit approximately 338,000 taxpayers.
Technology – a cost or value-add?
At bennettbrooks we are lucky to have a dedicated and well-rounded technology team; some of our longest running relationships span the distance since we introduced the first service back in 2009.
Autumn Statement roundup
On 22 November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament and started making, in his words, the long-term decisions necessary to strengthen the economy and build a brighter future. Fuelled by falling inflation and stabilised public finances, focus is now being applied to reducing debt, cutting tax and rewarding hard work.
Thoughts on the Autumn Statement by Mary Tierney, Tax Director
Thoughts on the Key points from the Autumn Statement by Mary Tierney, Tax Director
Changes to UK Company Law: Companies House Implements Robust Measures to Combat Economic Crime
The Economic Crime and Transparency Bill achieved Royal Assent and became law on 26 October 2023. This means there are changes ahead in Companies House measures targeted at disrupting economic crime such as identity verification for all directors and increased enforcement powers for Companies House.
Harnessing your ambition
Let's begin our journey together – get in touch today to find out what we can do to make your business more profitable and achieve it's goals.
