News - Holeys

11-01-2023

HMRC penalties alert as 5.7 million still to file tax returns

Taxpayers have been warned that they could face a penalty after HM Revenue and Customs (HMRC) said 5.7 million were still to file their Self-Assessment returns. The

05-01-2023

How can your businesses cut costs?

As the cost-of-living crisis continues, your business might be looking for ways to cope with soaring energy bills and interest rates. If you’re thinking about using your

04-01-2023

Implementation of MTD for ITSA delayed for two years

The Government has announced a two-year delay and further changes to the rollout of its Making Tax Digital for Income Tax initiative. The delayed implementation of Making

04-01-2023

Take advantage of the super deduction allowance – before it’s gone

Businesses are being advised that time is running out to be able to take advantage of the Corporation Tax super-deduction capital allowance scheme. This allows businesses to

04-01-2023

Improving your business finances in 2023 and beyond

Every business needs sound financial planning and oversight in order to thrive. With the new tax year just around the corner, now is the perfect time to

04-01-2023

Tax considerations for gifting to grandchildren in the UK

For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But before entering into any gifting arrangement, it

04-01-2023

Should I take a salary or dividends as a small business owner?

If you own a small business and are also a shareholder director, you may be wondering whether to take a salary or dividends. When it comes to

04-01-2023

Understanding and improving your balance sheet

Keeping on top of your business’s financial health is critical to its success. A great place to start is by understanding what a balance sheet is and

04-01-2023

A new VAT penalty system is now in effect

A major overhaul of VAT penalties came into effect on 1 January 2023. This new approach changes how penalties are applied, as well as how interest is

21-12-2022

Is your business going for growth? What you need to think about

You have overcome those initial obstacles to starting a new business and are now trading comfortably. The question is, where do I go from here? Despite difficult

14-12-2022

Be prepared for changes to Capital Gains Tax thresholds 

The exemption for paying Capital Gains Tax (CGT) is changing. The CGT annual exemption will fall from £12,300 to £6,000 from April 2023, before being cut in

14-12-2022

Companies House goes fully digital

Companies House has gone fully digital after the announcement of the closure of its office in London and all filing being transferred online. It has also permanently