As a new start up you will be eager to start doing business and balance the books. It can be tempting to offer low fees to attract your first client, but this strategy will set you up for failure. Here we explore why it pays to value your skills and how to perfectly price your services. How to Price Your Services Pricing your services can […]
Starting on 6 April 2026 self-employed earners will become liable for Making Tax Digital (MTD) for the first time. HMRC is implementing Making Tax Digital to overhaul the self-assessment tax reporting system. Phase 1 begins at the start of the next tax year on 6 April 2026. Are You Ready for the Rollout of Making Tax Digital in April 2026? The scheme requires tax to […]
The UK government presented their Spring Statement on 26 March 2025. This has made headlines for the changes to personal independence payments and plans to encourage more people experiencing disability into the workforce. Here we examine what measures will apply to SMEs, what these mean for your business and what actions you can take to ensure success. Fiscal Headroom The Chancellor Rachel Reeves had plans […]
On 5 April, the deadline closes to voluntarily pay for missing National Insurance contributions as far back as 2006. Whether or not you have set up a private pension, you should make the most of your state pension to maximise your pay outs in retirement. Here we explain why you should check for missing NI contributions and what you should do if you find gaps […]
A Lifetime ISA known as a LISA can help you save up to buy your first home or towards a comfortable retirement. The massive advantage is a 25% Government bonus paid on top of your savings. Here we break down how you can reach your saving goals with a Lifetime ISA. Reach Your Saving Goals With a Lifetime ISA A Lifetime ISA is just one […]
You may be liable to pay tax on savings interest. Since it is a source of income, you may need to pay tax on the interest you earn from your savings. However, there are a number of tax-free allowances you can take advantage of. Tax on Savings Interest Most workers in the UK can earn a certain amount of interest from their savings without paying […]
In an effort to crack down on undeclared income, HMRC has launched a targeted campaign aimed at persons with significant control (PSC) who may have failed to disclose all their earnings. This initiative serves as a wake-up call for individuals who have not been forthcoming about their income and serves as a reminder of the importance of tax compliance. Understanding the implications of being a […]
In an effort to improve transparency and compliance within the business sector, Companies House has implemented stricter rules regarding registered office addresses. Failure to adhere to these regulations can result in fines of up to £1,000. It is crucial for companies to understand the implications of these changes and take the necessary steps to ensure compliance. Understanding the ‘Appropriate Address’ Requirement The newly enacted regulations […]
Welcome to our blog post on deciphering the 2024 Spring Budget. As financial experts, we understand the confusion and stress that can arise from trying to make sense of complex tax announcements. That’s why we are here to simplify and demystify the essential tax changes that were announced in the Spring Budget. Our professional and authoritative tone promises to provide clarity and guidance, making tax […]
Welcome to the December 2023 News Update from Prestige Business Management December 2023 News Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs. Key Dates Coming Up Due date for payment of Corporation Tax – 1 January 2024 for period ended 31 March 2023 VAT return submission and payment due date – […]
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