As the 2024–2025 tax year draws to a close, HMRC has introduced significant changes affecting how sole traders report personal expenditure in their Self-Assessment tax returns. These updates are part of a broader campaign to improve compliance and ensure that only legitimate business expenses are claimed. HMRC is intensifying its scrutiny of personal expenses [...]
Key Tax Changes Effective April 2025 As we step into the new financial year, several significant tax changes are set to take effect in the UK from April 2025. These changes, announced in previous budgets and statements, will impact both individuals and businesses. Here’s a comprehensive overview of the key [...]
Budget 2024 - £40 billion in additional taxes The chancellor, Rachel Reeves, has delivered the first labour budget in 14 years. The Government had already set the scene that they had inherited broken public finances and broken public services, so we knew tax increases were coming. The Chancellor started her [...]
Our new sponsorship: Exeter City’s Sonny Cox We are excited to announce our sponsorship of Sonny Cox, a promising young talent at Exeter City Football Club. Getting to partner with local talent in a local sports club is something we are proud to be a part of. Sonny Cox has [...]
2024 Spring Budget The Spring 2024 budget is likely to be the last before the next general election and the majority of measures announced were broadly in line with what has been rumoured over the last few days.With the independent Office for Budget Responsibility (OBR) confirming inflation is set to fall [...]
Electric Cars - Added benefits of going green With the technology behind electric vehicles improving year on year, it’s no surprise that switching to an electric car is an increasingly enticing option for drivers. As well as the environmental benefits, as a business owner, it could also make a lot of financial [...]
2021 October Budget Highlights Today, Rishi Sunak has unveiled the latest budget to MPs in the House of Commons, which includes the government’s latest plans on taxation and spending policies. This is the second budget of the year, following on from the previous March statement, illustrating the ever-changing environment and [...]
Innovation and Resilience Fund calls for pioneering projects from East Devon businesses A new fund designed to help local firms prosper has been launched by East Devon District Council (EDDC). This recovery focussed fund is designed to support innovative projects that: support business diversification and the development of new and [...]
2021 Budget Highlights When we summarised last year’s budget highlights, the idea that the focus would still be on combating Covid-19 a year later seemed remote. With large scale economic uncertainty still present in many of our business sectors, it is likely that conversations regarding the UK’s recovery will be [...]
VAT Deferral New Payment Scheme As part of the government’s funding strategy for Covid-19 last year, over half a million businesses deferred VAT payments that were due between 20 March – 30 June 2020. Businesses that still have outstanding VAT from this period can choose to pay the deferred VAT [...]
