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The degree of speculation about this year’s Budget announcements was further compounded when the Office of Budgetary Responsibility uploaded their report on Budget changes prior to Rachel Reeves announcements to Parliament.However, there are to be no
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Many business owners focus on sales as the main driver of growth. Sales matter, but they are only part of the story. Real financial growth happens when a business retains profits. Keeping a portion of earnings inside the business, rather than
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Most business owners know that progress matters, but many still hesitate when it comes to planning. It can feel like an extra task or something that only large companies need to worry about. Yet, in practice, steady planning is one of the simplest
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Claiming Child Benefit can provide an important benefit by granting National Insurance credits. If you claim Child Benefit and your child is under 12, you will automatically receive National Insurance credits. This in turn will protect your
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While there are many state benefits available, it is not always clear which of these are taxable and which are tax-free. HMRC’s guidance outlines the following list of the most common state benefits which are taxable, subject to the usual
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A demerger involves splitting the trading activities of a single company or group into two or more independent entities. This can be facilitated by distributing the assets of a holding company to its shareholders. There are special statutory
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If you earn fees or sell goods as a side hustle, you may need to pay tax on your profits. HMRC has launched a new press release encouraging Christmas crafters and anyone with a fee earning hobby to check their tax reporting obligations as part of
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Making Tax Digital for Income Tax (MTD for IT) will become mandatory in phases from April 2026. If you are self-employed or a landlord and have over £50,000 in qualifying income you need to start preparing to submit quarterly updates, keeping digital
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The claimant began employment as a Contracts Coordinator on 23 January 2023, subject to a contractual 6-month probationary period, one which required 5 weeks’ notice for termination. The contract included a garden leave clause, but no clause
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Many small businesses rely on a mix of overdrafts, card facilities and short term loans to maintain day to day cash flow. During the past year banks and alternative lenders have become more cautious, and several indicators suggest that credit