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Autumn Budget 2024
INSIDE THIS STATEMENT The Autumn Budget 2024 tackles fiscal gaps with selective tax hikes on employers, personal wealth and capital gains, while supporting low-income households and smaller businesses to balance growth with financial responsibility. INTRODUCTION Fixing the foundations to deliver change KEY BUSINESS CHANGES Budget 2024 balances NIC hikes with business reliefs SUPPORT FOR BUSINESSES…
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News Round-Up – July 2024
HMRC CONTACTS PENDING ROR CLAIMANTS Provisional claimants are urged to makea valid claim by 31 January 2025. HMRC is writing to taxpayers who made aprovisional business asset roll-over relief(ROR) claim on asset sales in 2020/21and haven’t replaced it with a valid claim.The deadline for making a valid claimis 31 January 2025. If a valid claim…
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Navigating capital gains tax
CAPITAL GAINS TAX EXPLAINED Capital gains tax (CGT) is the tax on the profit you make whenyou sell or ‘dispose of’ an asset that has increased in valueduring your ownership. It is important to note that the tax islevied only on the gain made from the sale, not the total sale price. CGT is important…
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Becoming an employer
WHAT YOU NEED TO KNOW BEFORE TAKING ON THE RESPONSIBILITY Deciding to become an employer is a significant milestone forany business. It marks a phase of growth and the need foradditional support.In this guide, we will explain what becoming an employer entails, thesteps required, the key considerations, and the changes that comewith this decision. We’ll…
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News Round Up – June 2024
HOUSE PRICES FALL FOR THE SECOND MONTH IN A ROW House prices fell by 0.4% in Aprilto £261,962, following a 0.2% dropin March. UK house prices declined for the secondconsecutive month in April, influenced byuncertainties around interest rates andrising mortgage costs, which impact thetraditional spring homebuying season.According to the Nationwide BuildingSociety, April’s average house price…
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Business valuation:Knowing your company’s worth
ESSENTIAL KNOWLEDGE FOR ACCURATE MARKET ASSESSMENTS Understanding your business’s value is more than a number ona balance sheet – it’s a crucial indicator of your company’shealth and future potential. Whether considering a sale,seeking investment or planning strategic moves, a precise valuationprovides robust information.With this spotlight, we aim to guide you through the essentialsof business valuation,…
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Wealth planning for you and your family
UNDERSTANDING THE BASICS OF FINANCIAL PLANNING Financial planning is undoubtedly the bedrock of successfulwealth management, serving as the critical first step in alifelong journey of financial growth and security. The processbegins with a thorough evaluation of your current financial situation,a crucial stage that involves a detailed analysis of your assets,liabilities, income and expenditures. This comprehensive…
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News Round-Up May 2024
House prices grow slowly in March Higher mortgage rates affect affordability as the cost of buying a home strains budgets. Nationwide has reported a mixed picture of the housing market. On average, property prices increased 1.6% from March 2023, marking the quickest pace of growth since December 2022. However, a slight dip of 0.2% was…
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Tax deadlines and penalties for limited companies
Managing a limited company requires meticulous attention to regulatory obligations, particularly with regard to tax and accounting. Financial compliance is punctuated by a series of key deadlines and potential penalties for non-compliance, demanding a proactive and informed approach from company directors. This guide delves into the intricacies of these obligations, offering a comprehensive overview to…
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Debt management strategies
Managing debt effectively is an increasingly crucial component of personal financial health in today’s economic climate. With rising living costs and the easy availability of credit, it’s easy to find yourself in a situation where debt becomes overwhelming. This guide offers you practical and effective strategies tailored for managing your debt. Our aim is to…