News - Holeys

01-04-2025

Too many businesses falling into VAT traps

VAT is complex, and too many businesses are making costly, avoidable mistakes. Even a simple oversight or misunderstanding can lead to penalties, cash flow problems, and disputes

01-04-2025

900,000 sole traders pulled into MTD for ITSA

The Government has confirmed that Making Tax Digital (MTD) for Income Tax will apply to sole traders and landlords earning over £20,000 a year. This latest extension

01-04-2025

Labour introduces harsher penalties for late taxpayers

The Chancellor’s Spring Statement introduced harsher penalties for late taxpayers under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). With the Government confirming an

01-04-2025

Should you submit your tax return at the start of this tax year?

Submitting your Self-Assessment tax return at the start of this tax year is a great way to manage your tax bill effectively. The earlier you file a

01-04-2025

Why capital allowances should be top of your to-do list this April

The new financial year will see many of the proposed changes announced in the Autumn Budget enacted, impacting businesses across the country. These changes will have business

01-04-2025

Change to dividend reporting to affect thousands of owner-managed businesses

From 6 April 2025, many directors will need to report dividend income in much more detail in their Self-Assessment tax return. This change will affect an estimated

26-03-2025

Spring Statement 2025

06-02-2025

Will a minimum wage rise trigger unexpected student loan repayments?

From 1 April 2025, the National Minimum Wage will rise to £12.21 per hour (an increase of 6.7 per cent), meaning rising employment costs for businesses. For

06-02-2025

Received a ‘One to Many’ letter recently?

HM Revenue & Customs (HMRC) has recently issued One to Many (OTM) letters to private equity businesses and estate agents. These letters can be sent to any

06-02-2025

How to capitalise on the Government’s AI push

In January, the Government unveiled its Artificial Intelligence (AI) Opportunities Plan, outlining how the UK hopes to shape the AI trajectory by driving economic growth, enhancing public

06-02-2025

Budgeting for the unknown – Contingency strategies and tips for businesses

No matter how well-prepared you may think you are, things will not always go to plan. It could be a sudden shift in the market, supply chain

06-02-2025

Optimising your credit control policies to deal with chronic late payers

Despite repeated calls for reform, the Government has shown little support for tackling chronic late payments, leaving businesses to fend for themselves. One effective solution is to