HBO is revered for its authentic portrayals of times and places throughout history, from Band of Brothers’ harrowing journey woven through the events of World War II, to the crime-ridden streets of ‘90s Baltimore in The Wire. Yet it feels like none of its series based in reality (sorry, Game of Thrones) have captured the attention of the zeitgeist quite like Succession, acknowledged for its realistic, and all-too-relatable, encapsulation of a leader who has trouble letting go.
The High Income Child Benefit Charge (HICBC) is a tax charge that is applied to individuals in the UK who received child benefit and have an income above a certain threshold. The charge is calculated based on the difference between the individual’s income and the threshold, as well as the amount of child benefit received.
When the Covid-19 pandemic first struck, government guidelines were introduced encouraging people to work from home where possible. Many people found themselves fashioning new home offices into any spare space they had available. As a result of spending more time at home, household costs inevitably increased, and consequently the government allowed those working from home to claim tax relief on any additional costs incurred. And for the last two years people have been making successful claims from HMRC.
HMRC is obsessed with the word customer.Their annual report for the year ended March 2022 mentions the word more than four hundred times, describing (gleefully, we anthropomorphise) how the organisation is split into four core customer-focussed groups.
About a year ago, we wrote a blog titled – Is it worth going for an electric vehicle now and should you buy the car through your business but since then the petrol costs have been through the roof and we decided it was time to write an update to the topic. Is it worth moving to Electric from Combustion engine? With the petrol crisis running rampant and making you feel like every time you press the gas pedal you are setting £50 notes ablaze a second, let us explore this question.
The average cost of childcare in the UK has been steadily rising and many families have found themselves having to plan their budget carefully to cover the required fees. According to a report by the Day Nurseries, the average cost of sending a child under two years old to a nursery part-time (25 hours per week) in the UK has increased to £7,212 in 2022, compared to £7,160 in 2021. Based on the recent statistics published by OECD, the UK currently has one of the highest childcare costs in the world, only being slightly lower than Cyprus.
You received a VAT inspection, what to expect? It’s not uncommon for business owners to receive a letter from HMRC enquiring about their VAT returns. But what should you do if you get one? In this blog post, we will give you some tips on how to deal with a VAT inspection and what to do if you are asked to provide more information.
When someone tells you that their business aim is to cultivate a culture of creativity, what sort of business comes to mind? Creativity is not only for job titles such as graphic designer or marketer but, instead, can be applied to the operations and structure of a business.
At the start of any conversation about money, it is important to acknowledge that there are no simple answers. Money is a complex and multifaceted subject, and when it comes to things like cryptocurrency, inheritance tax, and inflation, things aren’t always straightforward. That being said, it is essential to gain a solid understanding of these topics in order to make informed decisions about your personal finances.
Thinking about switching to the LLP model but wonder what the auditing process will be like. Find out from our tour operating client about their audit process.
UK Inflation is predicted to reach 6% in April, and we have less than a month left to use up any remaining 2021-22 ISA (Individual Savings Account) allowance.As an adult in the UK, you have an allowance of £20,000 which you can put into ISAs every year, however any unused portion can’t be brought forward. Interest generated on money held in all forms of ISAs is tax-free, but cash ISAs aren’t a good idea because their interest rates are much lower than inflation, for example, 1% fixed cash ISA vs 6% inflation.
The annual personal tax return crunch-time is now far in our rear-view mirror, much to the delight of accountants and tax advisers across the UK. Yet HMRC’s relaxing of the rules due to the pandemic has made for some confusion for individuals in Self Assessment.