Author: Neil Dando

Take control of your money Managing finances can feel overwhelming, but it’s essential for your financial health and long-term success. Whether you’re a small business owner or an individual, staying on top of your accounts ensures you can plan effectively, avoid unnecessary costs, and meet your tax obligations. Cloud accounting is one of the most…

Licensed gambling operators could face a new levy from April 2025, calculated as a percentage of their Gross Gambling Yield (GGY). Rates will range from 0.1% to 1.1%, varying by sector, operating costs, and harm caused. Operators earning under £500,000 in gross profits will be exempt, though this threshold may be reviewed by 2030. The…

Two years after ChatGPT sparked a surge in artificial intelligence development, the Government has launched GOV.UK Chat, an experimental chatbot designed to deliver personalised, quick answers using information from relevant GOV.UK pages. Unlike HMRC’s tax manuals, this tool focuses on reducing bureaucracy and assisting small businesses in more efficiently navigating Government resources. Powered by OpenAI’s…

HMRC has urged taxpayers to be alert to scams as the self-assessment season picks up. Over the past year, nearly 145,000 scam attempts were reported, a 16.7% increase compared to the previous year. Fraudsters often pose as HMRC, using fake tax refund offers or demanding unpaid tax to steal personal and financial details. Alarmingly, around…

HMRC has extended the processing time for agent services account (ASA) and VAT agent reference number applications to 40 working days – eight weeks – up from the previous 28 days. This change applies from the date HMRC receives an application. Applications for an ASA must be submitted in writing, as no online application process…

Saving for retirement can feel daunting for many self-employed people. Without the workplace schemes that salaried workers often rely on, self-employed individuals must take proactive steps to secure their financial futures. But with the right guidance, pensions can become a valuable tool for your retirement planning. We’ll walk you through why pensions are vital, your…

Budgeting is the backbone of any business, large or small, providing a roadmap for managing resources, anticipating challenges and setting realistic goals. For small and medium-sized enterprises (SMEs) especially, a robust budget can mean the difference between thriving and simply getting by. In a tough economic climate, effective budgeting has never been more essential for…

Monetary Policy Committee (MPC) reduces rates amid signs of easing inflation. This cut follows a previous hold, with theMPC voting to decrease rates from 5% to 4.75%.

The WorkWell programme aims to support health through work. On 6 November 2024, the Secretaries of Work and Pensions, Liz Kendall, and Health, Wes Streeting, visited North Central London’s WorkWell programme. They highlighted the importance of good health in fostering a productive workforce. The WorkWell initiative, part of the government’s broader “Get Britain Working” strategy,…

The Education Secretary, Bridget Phillipson, has announced an increase in tuition fees from £9,250 to £9,535 per year starting in September 2025. This is the first fee increase in eight years, with further plans aiming to exceed £10,000 by the 2029/30 academic year. Phillipson outlined the rise as part of a strategy to support universities’…

HMRC has confirmed that double-cab pickups will be taxed as cars from April 2025, following the latest Budget announcement. This change, outlined in the Budget Red Book, reverses earlier decisions that caused uncertainty over the taxation of these vehicles. Previously, HMRC had briefly classified double-cab pickups as cars in early 2024, only to revert to…

Small and medium-sized enterprises (SMEs) are often seen as the backbone of the economy, contributing significantly to job creation and innovation. As the world becomes increasingly interconnected, more SMEs are considering international expansion as a growth strategy. While this presents exciting opportunities, it also comes with its own set of challenges. We’ll explore how SMEs…

Life is full of significant milestones – whether it’s getting married, buying a home or preparing for retirement. These moments can be both exciting and financially challenging. Without proper planning, they can bring unexpected stress. That’s why financial planning is essential for navigating these changes with confidence. Having a financial strategy ensures you’re prepared for both…

There is concern that scrapping non-dom status could lead to wealthy individuals leaving the UK, undermining the expected revenue gains. The Treasury is reassessing parts of Labour’s manifesto plan regarding the abolition of the non-domicile (non-dom) tax status, amid concerns over how much revenue it would actually raise. A non-dom is a UK resident whose…

The International Accounting Standards Board (IASB) has completed its post-implementation review of IFRS 15, the revenue recognition standard, concluding that it works as intended and provides valuable information for investors. Issued in 2014, IFRS 15 was the first standard jointly developed with the US Financial Accounting Standards Board (FASB) to ensure consistent revenue recognition across…

Mortgage rates boost confidence, but affordability remains an issue, with the average price reaching £293,399, just £108 short of the June 2022 peak. Halifax says house prices approached a record high in September, driven by falling mortgage rates. Halifax noted that prices have risen for three consecutive months as market conditions improve. House prices have…

The rising costs of private education, compounded by the introduction of VAT on school fees in January, are expected to impact more than half of children in private schools. According to a survey of 2,000 high-net-worth individuals (HNWIs), 993 parents with children in private education expressed concerns about the financial burden. Over half (55%) of…

Boxed in by Labour’s manifesto pledges not to increase income tax, employee’s national insurance and VAT, Chancellor Rachel Reeves instead had to raid other taxes, like capital gains tax (CGT), inheritance tax (IHT), employer’s national insurance and to extend the tax threshold freeze to find the £40bn needed to balance the books. While the tax…

How your structure affects tax and liability. Choosing the appropriate structure for your business is one of the first and most important decisions you will make. It affects everything from your tax obligations to the level of personal liability you will face, and even how you can raise funds. If you are thinking of starting…

How to deal with a compliance check from HMRC. 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…