The Spring Budget 2024 unveiled several significant adjustments to National Insurance Contributions (NICs) rates, as well as reforms in other tax-related areas. In this article, our team share a breakdown of the key announcements.

In the dynamic world of finance, understanding when a business needs to register for Value Added Tax (VAT) is crucial for sustainable growth and compliance. As an accounting firm dedicated to assisting individuals and small businesses, we recognise that VAT registration and compliance may seem daunting.

Value Added Tax (VAT) is a significant source of revenue for the United Kingdom's government, accounting for a substantial portion of its tax income. VAT is levied on the value added to goods and services at each stage of production or distribution. For businesses operating in the UK, adhering to VAT deadlines is crucial to ensure accurate reporting and timely payments.

Making Tax Digital (MTD) is reshaping how small businesses handle taxes. With digital record-keeping and quarterly reporting, businesses face initial challenges, but gain benefits like improved accuracy and compliance. By embracing digital tools, small businesses can navigate the digital tax landscape and thrive.