In what was widely expected to be Mr Hunt’s final Budget ahead of an election, speculation in the final run up focused on the trade-offs that might be required around cutting taxes and meeting both fiscal rules and spending commitments. Ultimately the Chancellor had...
Accounting News
Managing Your Business Through Inflation
Small businesses trying to cope with 9% inflation face a difficult balancing act between potentially alienating customers by increasing prices too sharply or absorbing increased costs and risking their survival. How can you cushion the blows? Maintaining a regularly...
Understanding the National Insurance Changes
Some of the latest changes to national insurance contributions (NICs) started from 6 July 2022, causing complications for self-employed people and directors. Normally rates and thresholds are set for the whole tax year. The main NIC rate for employees is 13.25% for...
Self-assessment threshold rises from 2023/24
There is a long list of reasons why it is necessary to complete a self-assessment tax return, but PAYE taxpayers are generally exempt from the requirement. Previously, exemption was subject to a £100,000 income ceiling, but the threshold has been increased to £150,000...
The Ofgem Price Cap Returns
From 1 July, the energy price cap set by energy regulator, Ofgem, will fall from £3,280 to £2,074. Prices are currently capped at £2,500, but this further reduction will help home-based employees and any small business owners who work out of residential accommodation....
The New Bottom Line
Arm in Arm accounting feature in this month’s ICAS Ca magazine article on sustainability & the net zero journey Our founder, Neil Mackinnon, spoke with CA magazine on the ways Arm in Arm Accounting help businesses to understand the financial implications of their...
Spring Statement 2023
After presenting a Budget-in-all-but name with the Autumn Statement, the Spring Budget was delivered against the backdrop of a day of widespread industrial action. The run-up to the event appeared deliberately downplayed, save for a late flurry of leaks highlighting a...