Watson Knipe Blog

To increase business investment, the government has announced a number of measures which could raise around £20 billion per year from businesses in a decade’s time. The changes include:

In the Autumn Budget announced in November 2023 there was an update on tax rates for 2024/25 which will impact on individuals and businesses. This article covers Income Tax Rates and Dividends.

The Chancellor announced major changes to the National Insurance contributions (NICs) system at the Autumn Budget in November 2023.

The government has accepted in full the recommendations of the Low Pay Commission and announced increased rates of the National Living Wage (NLW) and National Minimum Wage (NMW) which will come into force from April 2024.

This article summarises the tax updates announced in the Autumn Budget 2023. These will be of interest to individuals and landlords. This includes Capital Gains Tax, Inheritance Tax, Back to Work Plan, State Benefits, Individual Savings Accounts and Pension Tax Limits.

On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses.

There has been a lot of news recently about the Renters (Reform) Bill and how this will impact landlords. We have summarised some key points that will be of interest to landlords and property investors.

Creating a solid business exit strategy is crucial for any business owner, as it provides a roadmap for exiting the business on your terms and maximising the return on your investment. This article outlines some key factors to consider as part of your business exit strategy.

Did you know there are now less than 100 days left before your self-assessment tax return must be completed? The deadline is 31‌‌‌‌ January 2024. We are now busy working on the tax returns for our clients and wanted to remind everyone that there are many benefits to getting these processed and submitted sooner rather than later.

Energy Performance Certificates (EPCs) are required for properties in the UK when they are constructed, sold, or rented. They provide information on the energy efficiency of a property and are rated on a scale from A (most efficient) to G (least efficient). Landlords are required to provide EPCs to tenants and display them in property advertisements.

Zoopla published the rental market report on 14 September 2023.  This gives a comprehensive overview of the current trends in the rental sector.  We have pulled out some key facts that interest landlords and property investors.

Business planning is crucial for the success and sustainability of all businesses, regardless of size. Whether you are operating as a sole trader or a growing SME, this article gives seven reasons why business planning is essential.

In April 2023, corporation tax rose from 19% to 25% for companies with profits over £250,000. Businesses whose profits do not exceed £50,000 have a small profits rate of corporation tax which is 19%.

Dividends are a portion of company profit that is paid to shareholders in exchange for their investment in the business. This is calculated by distributing the company's profits after corporation tax has been applied.

The Renters’ (Reform) Bill was introduced to Parliament in May 2023. The full details of the bill can be viewed here – Renters (Reform) Bill.  In summary, the Bill delivers the government’s 2019 manifesto commitment to abolish Section 21 ‘no fault’ evictions.

A lot of people don’t realise that they can pay into a personal pension on behalf of their spouse, partner, children, or other family member. There are different groups of people who could benefit from someone paying into a personal pension for them, including:

HM Revenue and Customs (HMRC) is providing a new service to help make it easier for VAT customers to pay what they owe. Their aim is to allow customers to set up online payment arrangements to reduce the contact needed with HMRC. This should save both time and resources for Debt Management Operations.

It’s been a while since we have written about the best accounting and reporting structure for a new business. As many people are now starting their own businesses, we wanted to run through some of the pros and cons of the three most common types of company structure.

Although we are going through a financially challenging period, many people are still deciding to start a new business. There are many benefits that include working in an area you are passionate about, being autonomous, and being able to work flexibly.

We support companies by preparing monthly management accounts. There is an extra cost to taking this approach. However, you do need to set aside time to review the management accounts every month.