KC Accountancy Services News

Furnished Holiday Lettings – Forthcoming Changes to the Tax Rules

The Benefits of Accountancy Software for Business Owners

A Guide to Self-Assessment Registration

Understanding VAT registration

Changes to employment law 2024

Real time reporting of Capital Gains Tax for the sale of a residential property

Budgeting tips for small businesses

Tax Planning Strategies for Business Owners

How to set business goals for 2024

Tax deductible expenses for Sole Traders

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A new growth and skills levy which will replace th

A new growth and skills levy which will replace the existing apprenticeship levy and include new foundation apprenticeships.

The government says these new apprenticeships will give young people a route in careers in critical sectors, enabling them to earn a wage whilst developing vital skills.

The new levy will also allow funding for shorter apprenticeships, giving learners and employers greater flexibility over their training than under the existing system – where apprenticeships must run for at least 12 months.The training eligible for funding under the new levy will develop over time, informed by Skills England's assessment of priority skills needs, the government adds.

The Department for Education will set out further details on the scope of the offer and how it will be accessed in due course.

Alex Veitch, Director of Policy at the British Chambers of Commerce, said:

'Skills shortages continue to be a major concern for businesses and a drag on economic growth.

'The proposed new Growth and Skills Levy was a key part of the government's plans at the election. It is welcome that ministers have acted early to give more details about skills reform.

'We've long argued that the current Apprenticeship Levy needs urgent reform to make it more flexible. Businesses need a simple, coherent and responsive system that properly incentivises employer investment in training.

I’m Kim and my superpower is helping to support

I’m Kim and my superpower is helping to support business owners to gain control of their business and understand their business performance. 👩‍💻

We love becoming part of your business journey, getting to know how your business works and finding out what motivates you.

Our Management Reports service offers clients quarterly meeting to review performance, growth, profitability but also picking up on areas of weakness offering solutions to make changes before they have a detrimental effect on the business.

Don’t just take our word for it, hear what our clients who use the service currently had to say about the impact it has had in their businesses. ❤️

🎥 @highlyflammable.studio

Hi, I’m Kim when I first started KC Accountancy

Hi, I’m Kim when I first started KC Accountancy Services, I remember feeling a mix of excitement and uncertainty. It was a leap of faith into the world of entrepreneurship—a journey filled with challenges and learning opportunities.

Like many of you, I juggled multiple roles—from cleaner to marketer to CEO. There were moments of doubt and long hours, but also exhilarating milestones and small victories that fuelled my passion. 👩‍💻

Today, I can relate to every business owner navigating their own path. Whether you’re just starting out or scaling up, remember: every challenge is a chance to grow, and every setback is a step toward success.

I’m here to support you on your journey. Let’s connect, share stories, and inspire each other as we build thriving businesses together. ✨

#EntrepreneurJourney #SmallBusinessOwner #BusinessSuccess #Entrepreneurship #Reflection

Would you hire someone who isn't qualified or does

Would you hire someone who isn't qualified or doesn't have the expertise to work alongside you in your business? I guess the answer is No!

So, our point is, why would you struggle with your bookkeeping that takes you away from core business activities, or means you don't get precious time with your loved ones, when you could be outsourcing it to an expert who will give you the time back along with lots of useful ideas to streamline your financial processes? 💻

Outsourcing your bookkeeping to a qualified bookkeeper or accountant not only ensures accuracy and compliance but also frees up your valuable time to focus on what you do best – running and growing your business.

Let's talk about how we can help streamline your financial management and give you back that precious time!

Get in touch

📧info@kcaccountancyservices.co.uk
📞01691 674792

#Bookkeeping #Outsourcing #BusinessEfficiency #FinancialManagement #TimeManagement #SmallBusiness

Well, it was as we were warned, difficult with som

Well, it was as we were warned, difficult with some major tax rises! Here is our quick round up following Chancellor Rachel Reeves budget announcement…👇🏻

1. Employer’s National Insurance contribution rate will rise to 15% from 13.8%, however, added to this rise the threshold at which point the contributions are due will fall from £9,100 to £5,000 per annum.

2.For the smaller businesses and employers who currently benefit from the employment allowance, this is due to increase from £5,000 to £10,500 per annum, meaning the first £10,500 of employer’s national insurance contributions will be covered by the allowance and will not need to paid.

3.National Living Wage for age 21 and over to £12.21, a rise of 6.7% and to £10 for 18–20-year-olds.

4.Lower rate of Capital Gains Tax will rise from 10% to 18% and higher rate from 20% to 24%

5. 5p cut in fuel duty will remain in place for a further 12 months

6.You will see a penny cut on your pint in the pub!

7.Hand rolling tobacco to have a 10% increase in duty applied this year and a flat rate duty on all vaping liquid from October 2026

8.Stamp-duty land tax surcharge for second homes will increase by 2% to 5%

9.Corporation tax capped at 25%

There were many more announcements, of which we will send a detailed round up to all our clients over the next few weeks with explanations as to how the changes may impact you.

We are interested to know your thoughts, was it as expected, perhaps even positive – let us know in the comments 👇🏻

#autumnbudget #smallbusiness #taxnews

As the date approaches, we're keeping a close eye

As the date approaches, we're keeping a close eye on what changes could impact your finances and business. Here’s what to consider and what we’re hoping for:

🔍 What to Watch For:

-Tax Adjustments: Anticipate potential changes to income tax rates, thresholds, and allowances. This could affect both personal and business finances.

-Business Incentives: Look out for possible updates on reliefweds, grants, or incentives aimed at supporting small businesses and entrepreneurs.

-Green Initiatives: We expect the budget might include new measures to support sustainability and green investments—be ready to explore potential benefits.

🤞 What We’re Hoping For:

-Increased Reliefs: More reliefs for businesses to help with post-pandemic recovery and economic uncertainty.

-Simplified Taxation: Streamlined tax regulations to make compliance easier and more transparent.

-Support for Innovation: Enhanced support for research and development to drive growth and innovation in various sectors.

Stay tuned as we break down the budget’s impact and how it could affect your financial strategy. As always, we’re here to help you navigate these changes and make the most of any new opportunities!

#LabourBudget2024 #AutumnBudget #UKFinance #TaxChanges #BusinessSupport #Accountancy #FinancialPlanning #Budget2024