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HMRC Extends Deadline for Voluntary National Insurance Contributions
The deadline for making voluntary National Insurance Contributions (NICs) has been extended by HMRC to April 5, 2025. This extension provides taxpayers with additional time to fill gaps in their National Insurance records from April 2006, potentially boosting their State Pension entitlements. Importantly, the cost of these voluntary contributions will remain at 2022/2023 rates until this new deadline.
Navigating Inheritance Tax: 10 Expert Tips to Minimise Your Liability
Inheritance tax is a levy imposed by HM Revenue and Customs (HMRC) on the value of an individual’s estate at the time of their death, including all assets such as property, possessions, and money.
Exploring Trusts: A Guide to Putting Assets into a Trust
In today’s complex financial landscape, individuals and families are increasingly turning to trusts as a means of safeguarding assets and managing their wealth. Trusts offer a range of benefits, including asset protection, tax efficiency, and control over inheritance.
Exchange Lends A Helping Hand To Start-Ups
Lisburn-based digital accountancy specialist Exchange Accountants has launched a ‘Start-Up Business Package’ (SBP) to provide a much needed ‘helping hand’ to local entrepreneurs on their road to starting up a new business.
Inheritance Tax Thresholds in the UK: A Guide to Wealth Preservation
When it comes to estate planning and wealth management, understanding inheritance tax thresholds is paramount. n the UK, these thresholds dictate the amount of assets individuals can pass on to their beneficiaries tax-free, and proper planning can make a significant difference in preserving your financial legacy.
Risk Assessing Your Financial Profile
In today’s rapidly changing economic landscape, understanding and managing financial risks are essential for individuals and businesses alike.
Everything You Need to Know About Asset Protection
In today’s dynamic business environment, safeguarding your assets is paramount. Asset protection entails strategies and measures designed to shield your wealth and possessions from potential risks, liabilities, and unforeseen events. Whether you’re a business owner, entrepreneur, investor, or individual with substantial assets, understanding asset protection is crucial for securing your financial future.
Chancellor’s Spring Budget: Tax Cuts and Economic Growth
In his recent Spring Budget address, Chancellor Jeremy Hunt unveiled a series of measures aimed at rewarding hardworking families, boosting investment in the UK, and alleviating the financial burdens faced by households across the nation. Among the highlights were significant tax cuts and initiatives to support key sectors such as healthcare, childcare, and small businesses.
The Spring Budget and What it Means to You
With the Spring Budget just recently announced by Chancellor Jeremy Hunt, we have put together a summary to highlight the key points that may affect you and your business.
Navigating Compliance and Maximising Tax Efficiency with Digital Accounting
In today’s dynamic business landscape, staying compliant with tax regulations while maximising tax efficiency is paramount for businesses of all sizes. With the advent of digital accounting solutions, achieving these goals has become more streamlined and accessible than ever before. Let’s explore how embracing digital accounting can help businesses navigate compliance requirements while optimizing tax efficiency.
Navigating Tax Season with Ease: The Role of Digital Accounting and Making Tax Digital for ITSA
In the dynamic landscape of finance, where precision and efficiency reign supreme, embracing digital accounting and Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) emerges as a game-changer.
HMRC’s Crackdown on ‘Side Hustles’ Explained
Effective January 1, 2024, businesses globally are now obligated to notify tax authorities of their ‘side hustle’ activities.
Transformative Business Resolutions for the New Year
As the new year unfolds, businesses often contemplate resolutions to elevate their operations, enhance financial health, and foster sustainable growth.
‘Tis the Season to be jolly… and for businesses to save some ‘lolly’
BUSINESSES across Northern Ireland are being urged to open their ‘mince pies’ to a sackful of festive tax benefits that could save them some money this Christmas.
Navigating the Economic Landscape: A Comprehensive Guide to the Top 10 Business Highlights from the Autumn Statement
In the wake of the Autumn Statement, the economic landscape for businesses is undergoing significant shifts. From tax relief strategies to digital transformations, the government’s latest initiatives are poised to reshape the way businesses operate. Join us on a journey through the ten most critical points that emerged from the Autumn Statement, unravelling their implications and offering insights on how businesses can navigate these changes.
