Below you'll find a list of all posts that have been categorized as “AEL News”
When it comes to navigating the intricate world of business finances, understanding the various types of capital allowances is key. These allowances play a pivotal role in determining the tax relief a business can claim on certain expenditures, ultimately impacting its bottom line. In this comprehensive guide, we’ll explore the different types of capital allowances available in the UK and …
Understanding the intricacies of the National Living Wage (NLW), the National Minimum Wage (NMW), and the Living Wage is essential for businesses to meet legal requirements and ensure fair compensation for their workforce. In this article, we break down these concepts, providing clarity to help you avoid penalties and uphold the right standards in paying your staff. If you’re a …
Operating a small business in the UK presents its fair share of challenges, but when it comes to tax season, there’s an opportunity to navigate those challenges strategically and potentially save on your tax bill. In this comprehensive guide, we’ll delve into the world of small business deductions, unravelling the various opportunities that can significantly impact your taxable income. Unveiling …
What is a contractor? Contractors provide services to a client and bill that client for those services. The client pays the contractor and the Contractor is responsible for their own Tax and NI Contributions. What are the rules on IR35? Legislation was passed in April 2017 which meant that for those working in the public sector many categories of …
Chancellor Jeremy Hunt presented his 2023 autumn statement on Wednesday 22nd November 2023. The key announcements are summarised below; Salary from 1 April 2024, the national living wage will increase by 9.8% to £11.44 an hour, with the age threshold lowered from 23 to 21 years old; from 1 April 2024, the national minimum wage will be increased to £8.60 …
For any business owner, having a clear and accurate view of the financial health of their company is crucial. Management accounts play a vital role in providing valuable insights into the financial performance and overall well-being of a business. In this comprehensive guide, we will explore the key components that should be included in your management accounts. Whether you’re a …
Gone are the days of accountants solely focused on financial reporting. The rise of data analytics has transformed their role into that of strategic advisors, driving business growth and innovation. Let’s explore some more examples and numbers that illustrate the impact of data analytics for accountants in the UK: Fraud Detection: The National Crime Agency reported …
In today’s fast-paced and interconnected business landscape, the threat of fraud looms large over organisations of all sizes. While external threats often grab the headlines, businesses must also address the alarming reality of internal fraud committed by employees. With the government ramping up efforts to tackle this issue, it is crucial for businesses to proactively address and mitigate the risks …
Introduction: HM Revenue and Customs (HMRC) plays a critical role in ensuring tax compliance and collecting revenue for the UK government. However, concerns have been raised regarding potential overreach in HMRC’s powers during civil inspections. In this week’s blog, we will delve into the debate surrounding HMRC’s authority, examine instances of alleged overreach, and explore the importance of striking a …
1. Introduction: In a recent report by PFP, it has come to light that over 11,000 landlords have been caught by HMRC for underpaying their taxes. This alarming revelation serves as a wake-up call to all landlords and property owners, highlighting the importance of tax compliance in the real estate sector. In this blog post, we delve into the details …
