National Minimum Wage Increases: What Employers Need to Know As we step into the new financial year, April brings a series of significant changes to employment regulations, particularly concerning the National Minimum Wage (NMW) and National Living Wage (NLW). With the cost of living continuing to rise, these updates will…

Late payment penalties rise to 10% [Spring Statement 2025] Taxpayers across the UK are set to face stricter financial penalties for late tax payments as the government implements a more punitive regime starting in April 2025. This change, announced in the Chancellor’s first Spring Statement, forms part of a broader…

Understanding the Tax and National Insurance Treatment of Tips in 2025 The hospitality industry has long navigated the complexities of tips, gratuities, and service charges. With the introduction of the Employment (Allocation of Tips) Act 2023, which came into effect on 1 October 2024, new rules ensure that all tips…

Should Directors Have Employment Contracts? We’ve recently seen another firm of accountants recommending that all directors should have employment contracts. That advice runs contrary to our approach, so let’s break it down and explain why we strongly disagree. Understanding Director Status According to gov.uk, a person appointed to a company…

Company Accounts Thresholds Increasing by 50% from April 2025: What It Means for You The government has announced a significant change to company accounting thresholds, increasing them by 50% from April 2025. This move is designed to reduce the reporting burden on businesses and account for inflation since the last…

High Income Child Benefit Charge will not be reformed We’ve recently seen changes to the High Income Child Benefit Charge from April 2025, which saw an increase to the income level at which you start to lose the entitlement to the benefit and also a higher threshold at which it…

Employer National Insurance Allowance – changes ahead The Employer National Insurance allowance isn’t a new thing – it’s been around for some time but there are changes ahead. Over the years the value of the allowance has changed and currently (tax year 24/25) sits at £5,000 per year. Eligible businesses…

You may remember the fiasco of a few months ago where it was announced by the then Conservative government that the beneficial tax treatment around Double Cab Pick Ups was to be scrapped – with classification of the vehicles for tax as cars rather than vans. A crazy couple of…