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As tax season rolls around, it’s essential to ensure your finances are in order to avoid unnecessary stress and take advantage of every opportunity to save. Our expert tax team at Exchange Accountants has put together their top tips to help you streamline your tax return and maximise your savings.
In the competitive landscape of today’s business world, having a robust financial strategy is paramount. At Exchange Accountants, we are committed to helping your business not just survive, but thrive. Read some of our key strategies we implement to ensure your business reaches its full potential.
Understanding what business expenses you can claim is crucial for managing your finances and ensuring you remain compliant with HMRC regulations. Knowing the rules can help maximize your tax deductions, potentially saving your business a significant amount of money each year. Here’s a guide to what you can and can’t claim as business expenses in the UK.
Navigating the UK tax system can often feel like a daunting task, but understanding the basics of allowances and tax rates can significantly ease the process. Here’s a comprehensive guide to help you understand how allowances and tax rates work in the UK, ensuring you’re well-informed and able to manage your finances more effectively.
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.
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.
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.
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.
On March the 3rd the highly anticipated Budget was announced by Chancellor Rishi Sunak, here we have summarized the key details: Extension of the Coronavirus
The government reintroduced the remainder of the March budget last week, it’s the part that was held-over to accommodate the May 2017 general election. It
The Department for Education released the following press release last week regarding the new childcare support offer that commences from 1 September 2017. They said:
Why would you want to file your tax return early? The end of this month, for example, is the deadline for filing a paper version
From April 2016, you won’t have to pay tax on interest received up to £1,000 (if you are a standard rate taxpayer), or £500 if
HMRC has collected £1 billion in tax payments from users of tax avoidance schemes as a result of the government’s new rules to collect disputed
If you are self-employed (as a sole trader or in partnership) you will normally make two payments on account of your self assessment tax liability
