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Don’t forget the rates for minimum wage will increase from April 2024, so make sure your payroll systems are up to date. If you are currently running your own payroll system but you are finding it a burden and could do with some help, get in touch with us here at MLS Accountancy as we’d…Read More
Last week Jeremy Hunt announced changes to National Insurance Contributions for the self-employed – take a look at the infographic below to see the changes to both Class 2 and Class 4 contributions. The VAT registration threshold has also increased, hopefully giving small businesses a helping hand to survive the current difficult economic climate. If…Read More
Today we take a look at how the recent budget can affect income tax rates along with Class 1 National Insurance Contributions for both employers and employees. If you need help with your personal tax affairs or if you are an employer and are unsure of how the recent changes may affect you and your…Read More
Take a look at today’s blog post from MLS Acccountancy to find out the updated benefit in kind rates for company cars. This week we’ll be sharing information following Jeremy Hunt’s budget update…..keep a look out on our Linked In and X pages to find out more! If you’d like to find out more about…Read More
Addressing loneliness among young employees The UK government has launched a campaign to address the stigma around loneliness with young people. Research shows that 16-to-24 year olds are the loneliest age group, but are also the least likely to take action to help themselves. Many also hide feelings of loneliness out of worry over being…Read More
Understanding the pros and cons of the VAT Flat Rate Scheme for businesses Value Added Tax (VAT) is a significant consideration for businesses. It impacts your cash flow, the amount of admin work needed, and even your overall profitability. One option available to businesses – with a VAT exclusive turnover of £150,000 or less –…Read More
Are you getting minimum wage payments right? Last Tuesday, the government named and shamed 524 businesses for failing to pay the minimum wage to their staff. These failures amounted to a total of nearly £16 million that had not been paid to their workers. Each of the employers named has had to repay their staff…Read More
Exploring tax implications: Limited company vs Sole Trader When starting a business, or indeed as an established business, choosing the most suitable legal structure for your business is an important thing to consider. Two popular options are operating as a sole trader or forming a limited company. Each of these options comes with its own…Read More
HMRC warns about an increase in tax refund scams HM Revenue and Customs (HMRC) are warning that fraudsters could focus on Self Assessment taxpayers. With the tax return filing deadline having just passed at the end of January, an email, phone call or text message that offers a tax rebate may appear more believable than…Read More
Navigating recession: Key considerations for your business The Office of National Statistics released official figures last week showing the UK is now officially in recession. Gross domestic product (GDP) for the October to December 2023 quarter dropped by 0.3%. This followed a fall in the July to September 2023 quarter of 0.1%. A fall in…Read More
Guidance for small businesses using online services The National Cyber Security Centre have issued some new guidance on “Using online services safely.” To avoid having to set up and manage their own IT infrastructure, many small businesses use online or cloud services. For instance, these might include email, online storage, online accounting and managing of…Read More
Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you! Year-End Tax Planning: Maximising benefits for your business We are now within the final two months of the tax year, and…Read More
Welcome to today’s blog post from MLS Accountancy, reviewing the latest business news which may be relevant to you and your company. As always, if you have any queries please get in touch via our website. No final decision yet on a digital pound The Bank of England and HM Treasury have published their response…Read More
Welcome to our round up of the latest business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you! Streamlining your business: Strategies to speed up customer payments and improve cash flow Begbies Traynor, a firm of business rescue and…Read More
Today’s blog post discusses tackling potential fraudulent BBL scheme applications, HSE’s plan to tackle asbestos, and a Cyber Essentials programme for SMEs Pilot scheme to look at potential fraudulent Bounce Back Loan Scheme applications The Department for Business (DBT), the Cabinet Office, and HM Revenue & Customs (HMRC) have initiated a pilot program to detect…Read More