Planning to retire from your own business

Retirement in general can be complex, with many different decisions to be made. When is the right time to take retirement? Should you do it early or wait until there is a larger nest-egg available? How will retirement affect you, your health, home life etc? These are all important questions but what about those individuals… Read more…

Chancellor announces windfall tax on energy firms

Chancellor Rishi Sunak will impose a windfall tax on energy firms alongside a package to help households with the cost-of-living crisis. Mr Sunak said a ‘temporary, timely, and targeted’ 25% Energy Profits Levy would be introduced for oil and gas companies, reflecting their extraordinary profits. The levy is expected to raise £5 billion for the… Read more…

Energy price cap set to rise to £2,800 in October

The energy price cap is now expected to rise to around £2,800 in October, according to the UK’s energy regulator. Jonathan Brearley, Chief Executive of Ofgem, warned MPs on the Commons business committee about the increase. Mr Brearley told the committee that the price cap, which is currently £1,971, will increase due to continued volatility… Read more…

Inflation hits 40-year high

Inflation has hit its highest level in 40 years amid the deteriorating cost-of-living crisis, according to the latest figures from the Office for National Statistics (ONS). The rate shot up to 9% last month – its highest level since comparable readings in 1982. Data released by the ONS showed a broad-based hike in prices for… Read more…

Almost 66,500 filed self assessment returns on 6 April

Nearly 66,500 taxpayers filed their 2021/22 self assessment return on the first day of the new tax year, according to figures from HMRC. In recent years, there has been an increasing number of ‘early-bird’ customers filing their completed self assessment tax returns at the start of the new tax year – almost 30,000 more customers… Read more…

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 June 2022. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on or… Read more…

Should I Consider Staff Redundancies?

No business owner wants to make their staff redundant, however at times it’s necessary in order to protect the company. The process is obviously very difficult for the employees involved but it can also take its toll on managers. This is particularly true as redundancies often involve staff who have been working for the company… Read more…