News - Holeys

05-12-2024

Are you claiming the right office-based expenses?

Claiming allowable expenses when calculating taxable profit as a self-employed business owner is an important step in preparing your tax return. It will ensure you are not

07-11-2024

Businesses left to pick up the tab for Employment Rights Bill

The Government estimates that new obligations placed on employers under the Employment Rights Bill could result in substantial compliance costs – totalling around £5 billion. The Bill

07-11-2024

Autumn Budget delivers Inheritance Tax blow to pension savers

In this year’s Autumn Budget, Chancellor Rachel Reeves announced that the majority of unspent pension funds will form part of an estate from April 2027 This move

07-11-2024

The value of technology – Why you should not rule out investment

Recent research by Three Business indicates that tech-enabled SMEs could add an impressive £79 billion to the UK economy over the next year. Technology is clearly a

07-11-2024

Bad debts on the rise – Time to crack down

As we approach the end of the year, one trend has become increasingly concerning for UK businesses – debts are on the rise. According to a recent

07-11-2024

Employers squeezed as wages and National Insurance rise

In Chancellor Rachel Reeves’ 2024 Autumn Budget, she announced over £40 billion of tax increases, as the Government attempts to fill a £22 billion gap in public

07-11-2024

Capital Gains Tax is increasing – What does this mean for you?

Capital Gains Tax (CGT) was a significant target for the Chancellor in the Autumn Budget – with an immediate rise put in place for both the basic

30-10-2024

Autumn Budget 2024

A new Government, a new Chancellor and a new approach to the UK’s fiscal policies. Rachel Reeves entered her first Budget with a strong message that her

02-10-2024

Fiscal drag and tax thresholds: What does it mean for you

As the Government seeks to plug certain gaps in the public purse, we are unlikely to see any change in Income Tax thresholds – despite wages and

02-10-2024

With Income Tax unlikely to change, is it worth altering your dividend-based salary strategy?

For business owners and directors, dividends may form a critical element of your salary strategy and tax planning, keeping your tax liabilities to a minimum. To extract

02-10-2024

Labour pledges to avoid raising taxes ‘on working people’

As the Autumn Budget approaches, the Government has pledged that it will “make the tax system fairer” and avoid raising taxes on working people and certain businesses.

02-10-2024

How to protect your business from Kittel VAT risks

Taxpayers have a fundamental right to reclaim input tax, also referred to as input VAT. However, HMRC has the authority to refuse this right under certain conditions