Payroll compliance – what is Full Payment Submission?

A Full Payment Submission (FPS) is a payroll report that employers must send to HMRC every time they pay employees. Using payroll software, employers use an FPS to report payments made, deductions

Have you checked your State Pension forecast recently?

Your State Pension forecast can help you plan for retirement by showing how much State Pension you could be entitled to, when you can claim it and whether there are ways to increase your entitlement.

Tax benefits of giving assets to charity

Most people are aware that cash donations to a charity can qualify for tax relief. However, it is less well known that gifts of land, property and qualifying shares can also provide valuable tax

Do you need to pay tax on money received from family?

Receiving money from a family member can be a welcome source of financial support, but many people are unsure whether they need to pay tax on it. In most cases, the person receiving a gift does not

Claiming tax relief on professional training

Keeping your skills and knowledge up to date is important but the cost of professional training can add up. If you are self-employed some training costs may be claimed as allowable business

Tax-free childcare, are you missing out?

With childcare costs continuing to rise, many working families could be missing out on valuable support through the Tax-Free Childcare scheme. The scheme helps eligible parents pay for registered

Late payments still threaten small business cash flow

Late payments remains one of the biggest challenges facing small businesses across the UK. Even companies that are profitable on paper can find themselves under financial pressure if customers fail to

Rising employment costs are changing business decisions

Employment costs continue to rise, and many small businesses are feeling the impact. Higher wage bills, increased employment related costs and the expense of recruiting and retaining skilled employees

Does your business need to register as an employer?

If you are starting to employ staff or engaging subcontractors for construction work, you will generally need to register as an employer with HMRC. This obligation extends even to individuals who are

Self-Employed – Are your business records in order?

As a self-employed individual, whether a sole trader or partner, you must keep accurate records of your business income and expenses to back up your self-assessment tax return. You should also keep