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The Autumn Statement 2023

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. In addition, there were significant statements relating to National Insurance changes and also the reform of work-related state benefits.

To find out how the Autumn Statement announcement may affect you, we’ve created an Autumn Statement guide to help you. You can download it below.

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Operating as a limited company comes with signific

Operating as a limited company comes with significant benefits but staying compliant and tax-efficient requires planning.

Need Help Navigating These Changes?

Our expert team can help optimise your company’s tax position, ensure compliance, and boost your bottom line. Drop us a message to book a free consultation today!

🔗 Share this post to help fellow business owners stay informed.

January is for resolutions— and tax returns. For

January is for resolutions— and tax returns. Forgetting one could cost you more than your gym membership. 😉

#newyearsresolutions #taxreturns #2025tax #taxtips

🚩🚩🚩Last year, concerned taxpayers reporte

🚩🚩🚩Last year, concerned taxpayers reported nearly 150,000 scam referrals to HMRC. 🚩🚩🚩

Around half of all scam reports in the last year were fake tax rebate claims, says the tax authority.

There has been a 16.7% increase in all scam referrals to HMRC – 144,298 were received between November 2023 and October 2024, up from 123,596 in the previous 12-month period, it added.

If communication claiming to be from HMRC asks for personal information or offers a tax rebate, check the advice on GOV.UK to help identify if it is scam activity.

HMRC says it will never leave voicemails threatening legal action or arrest or ask for personal or financial information over text message – only fraudsters and criminals will do that.
If you receive post or a call from HMRC, we recommend checking with us first before you give any information to them.

New company car advisory fuel rates have been publ

New company car advisory fuel rates have been published and took effect from 1 December 2024. 🚗

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 after 1 December 2024 as detailed. (save post as your reminder)

HMRC guidance states that the rates only apply when you either:

• reimburse employees for business travel in their company cars
• require employees to repay the cost of fuel used for private travel.

You must not use these rates in any other circumstances.

The Advisory Electricity Rate for fully electric cars is 7p per mile.

People selling unwanted items online can continue

People selling unwanted items online can continue to do so without any new tax obligations, HMRC has confirmed.

The reminder comes as online platforms start sharing sales data with HMRC from January 2025 – a new process that, when announced last year, generated inaccurate claims that a new tax was being introduced.

But whether selling last year’s festive jumper, getting some money back for a child’s outgrown baby clothes, or quietly offloading an unwanted Christmas present or two – absolutely nothing has changed for online sellers.

The new reporting requirements for digital platforms came into effect at the start of 2024. HMRC says that it is not a new tax and whether people are selling personal items on eBay, renting homes out on Airbnb or delivering takeaways through Just Eat – no tax rules have changed.

Those who sold at least 30 items or earned roughly £1,700 or provided a paid-for service, on a website or app in 2024 will be contacted by the digital platform in January to say their sales data and some personal information will be sent to HMRC due to new legal obligations.

Angela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive Officer, said:

‘We cannot be clearer – if you are not trading and just occasionally sell unwanted items online – there is no tax due.

‘As has always been the case, some people who are trading through websites or selling services online may need to be paying tax and registering for self assessment.’

It’s a simple question, but the answer can vary

It’s a simple question, but the answer can vary depending on how your business is set up.

Each method has pros and cons, and finding the right balance depends on your business structure and personal financial goals.

Save this quick guide and get in touch - If you’re unsure which is the best option for you, we can help you understand your numbers and explore the most tax-efficient ways to pay yourself.

#limitedcompanies #soldtraderadvice #payroll #selfemployed