HMRC Vision 2024
Under new plans, HMRC will reduce access to its call centres and helpline advisers at its contact centres by 30% by December 2024 in a bid to force people to move to digital services by default and to try to achieve service level targets. Speaking to MPs at a Treasury Committee hearing on Wednesday, HMRC…
Read More
Biggest Tax Raising Parliment
The Institute for Fiscal Studies (IFS) has stated that this has been the biggest tax-raising parliament since records began, pushing UK tax revenues to historically high levels. They comment “At the time of the last general election, UK tax revenues amounted to around 33% of national income. By the time of the next election in…
Read More
Autumn Statement
The Chancellor of the Exchequer, Jeremy Hunt, has confirmed that the Autumn Statement will be on 22 November 2023. The Autumn Statement can affect tax policy, benefits, and much more. The Chancellor will make his announcement to Parliament, setting out the Government’s plans on all matters fiscal and economic. Interestingly, this could be the Chancellor’s…
Read More
Shareholders Agreements and Why They Are Important
The importance of a shareholders agreement For limited companies, when it comes to making decisions, Company Law states shareholders who own more than 50% can pass a motion at a company meeting regardless of the views of other shareholders and if a shareholder(s) owns 75% or more of the shares they, control the company outright…
Read More
HM Revenue Customs thinks the solution lies in the use of online
HMRC Annual Report shows some important trends for business owners HMRC’s annual report was published last week, and it shows that they failed to meet many of their key customer services measures in 2022-23. Customer satisfaction dropped to 79% from 82% last year and telephone performance has also declined with an average wait of 16…
Read More
Customer Services and Why It Matters
According to the Institute of Customer Service’s (ICS) most recent UK Customer Satisfaction Index more companies have declined in service than improved. In 2021 and 2022, customer satisfaction with complaint handling showed a steady improvement but this has now stalled and other areas of customer satisfaction that are predictive of business performance, such as measures…
Read More
What Really Important
What’s really important? With the constant news surrounding the economy, interest rate uncertainty, and high inflation, its difficult not to worry about these issues and lose sight of what’s really important – the health and welfare of you and your loved ones. The issue we all face is a potent mix of inflation, recession, high…
Read More
Managing InheritanceTax
Like many other taxes, inheritance tax (or IHT) allowances have been frozen. This sounds generous of the chancellor at a time when the government is strapped for cash. But it actually means that we are paying more. Data from HMRC has revealed that Inheritance tax collected between April 2022 and February 2023 totalled £6.4bn, which…
Read More
Your Duties As An Employer and The Change
As an employer running payroll, you need to report to HM Revenue and Customs (HMRC) on the previous tax year (which ends on 5 April 2023), give your employees a P60, and prepare for the new tax year, which starts on 6 April. What you need to do When Send your final payroll report of…
Read More
Budget Update
COST OF LIVING SUPPORT Energy Costs The Energy Price Guarantee (EPG) brings a typical household energy bill in Great Britain down to around £2,500 per year. It has now been announced that the £2,500 EPG will be extended by 3 months to 30th June 2023, before increasing to £3,000 until the end of the EPG period on…
Read More