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What changes can we expect from the new Labour government?

Last Friday, 5th July, following an overnight race against time, we woke up to the news that Labour had won the General Election, ending 14 years of Conservative power, with Keir Starmer set to lead as Prime Minister.   After a busy weekend appointing his cabinet members, including Rachel Reeves as Chancellor of the Exchequer, we […]

Future-proofing our services and our planet with One Tree Planted

In our most recent endeavour to ensure the sustainability of our service offering, we are delighted to share our latest partnership with One Tree Planted. As part of this newfound collaboration, we have pledged to plant one tree for every client who completes our Spring 2024 Survey, with a total donation goal of £500!  With […]

Spring Budget Report 2024

Budget Highlights We are pleased to share our summary of the Spring Budget delivered by the Chancellor, Jeremy Hunt, on Wednesday 6 March. Drawing attention to the UK’s continued creative industry growth, Hunt claimed that we’re set to be second only to Hollywood by next year! Incorporating this in the government’s top priorities for spending, […]

Our Spring Budget Predictions

What should we expect from the 2024 Spring Budget?  With this year’s Spring Budget being the last budget before the general election, many are wondering whether the Chancellor will deliver any pre-election giveaways in his announcement.   Amid discouragement from the International Monetary Fund (IMF) to implement further tax cuts, speculation is growing around what exactly […]

Content Creation to Tax Compliance: navigating your success

The current generation of social media has made earning through content creation more accessible than ever before. What often starts as a fun hobby for social media users can quickly turn into an income stream worth quitting their day job for!  When you hear the title ‘influencer’ or ‘content creator’, it’s likely to conjure up […]

The implications of staff entertainment and PSAs

The Paris Partnership joins mgr

mgr is pleased to announce that The Paris Partnership – a practice which offers compliance-driven services, spanning across accountancy, audit and taxation – has joined the mgr business, with effect from Friday, 1st December 2023. The deal secures partner succession, whilst strengthening existing services for clients of the newly combined business.   The Paris Partnership prides […]

National Insurance cut by 2%

Bonus or dividend? It’s an age-old question that we’re often asked by business owners. In fact, you may recall our article from earlier this year, which explained how the April 2023 Corporation Tax changes meant that in some cases, it may be more tax efficient for a business owner to pay themselves a bonus, rather […]

Autumn Statement Analysis

Against a challenging fiscal backdrop and pressures to continue reversing inflation, the 2023 Autumn Statement presented an opportunity for the government to demonstrate solid plans for growth and win back public confidence. Following previous suggestions of tax cuts being near-impossible, we’re sure you were as surprised as we were to watch a statement unfold that […]

Autumn Statement 2023: Our Predictions

What are your thoughts about the upcoming Autumn Statement? With less than one week to go until Jeremy Hunt delivers his statement to the House of Commons, predictions are well under-way about what exactly will be announced by the Chancellor.   While recent economic statements have prioritised economic growth and stability, the UK has been suffering […]

Update: Deadline for voluntary National Insurance contributions extended to April 2025

Have you topped up your National Insurance record yet? Until recently, the deadline for making voluntary contributions dating back to April 2006 was 31st July 2023. But don’t worry - this has now been extended to 5th April 2025. 

Corporate Interest Restriction

The Corporate Interest Restriction (CIR) legislation limits the tax relief a group of companies can claim for deducting net interest and other financing costs to £2m per annum. With interest rates rising, the Corporate Interest Restriction will inevitably affect many more companies and groups going forward. Joel Calitchi sets out a brief overview of the CIR legislation.  

Determining the place of supply for VAT purposes on international services

A common misconception post-Brexit is that there have been significant changes to the way that VAT is applied to international services. But to put it briefly, subject to certain exceptions, not much has changed regarding the cross-border supply of services. If your business offers international services, it’s important that you fully understand how to comply with VAT regulations, from where the place of supply is classed as, to reverse charge obligations.

Tax Simplification: the Government’s ambition to simplify the tax system

Did you know that small businesses account for 61% of private sector employment, and have an estimated turnover of £2.3 trillion? Despite this status in the UK’s business sector, it often seems that the tax system is set up to complicate operations for these small businesses, discouraging new ventures.

Helping UK businesses with National Minimum Wage compliance

Earlier this month, the UK national minimum wages (NMW) and national living wage (NLW) increased. This came as part of the government’s attempt to accommodate low-paid workers struggling with the cost-of-living crisis. Continue reading for a full breakdown of the new wages…

How to be financially prepared for the 2023/24 tax year

Now that we’ve reached the end of the 2022/23 tax year, it’s the perfect time to set out your financial plan for the year ahead. In fact, before any more deadlines catch up with you, there’s no time like the present to make sure you’re prepared for stability and success in 2023/24!