News
All our latest news & events
Your Guide to the Spring Budget Statement
A summary of the key changes for you and your business The Spring Budget Statement of 2024 was announced yesterday by the Chancellor against a backdrop of fluctuating markets, inflationary pressures, and geopolitical tensions. Jeremy Hunt took to the lectern with the...
Five Self-Assessment deductions you didn’t know you could claim
With the Self-Assessment deadline passing on 31 January, it’s clear that many sole traders and business owners aren’t using allowable expenses and deductions to their full potential. When using Self-Assessment to report your taxable profit to HM Revenue &...
Optimising cashflow in challenging times
Tom Casey, Director Cash is king. It’s one of those many over-used phrases in business that make us cringe when we hear it, but it’s true. Hopefully, you’re fortunate enough that you only cringe at the phrase itself, not the thought of how many days cash your business...
Warning to all taxpayers – Pay your taxes on time amidst rising interest rates
As the deadline for paying any tax approaches, it is crucial you make your payments accurately and on time before it is too late. If you do not pay your tax obligations by 31 January 2024, HM Revenue & Customs (HMRC) will charge you interest on any unpaid tax. The...
Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers
HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key area of tax evasion – online traders. Individuals selling on platforms like eBay, Vinted, or Depop must now be vigilant about their sales and income generated...
Understanding loss carry-back claims
In the unpredictable world of business, it's not uncommon for companies to experience financial losses. While this can be disheartening, there's a silver lining in the form of loss carry-back claims. This accounting strategy can be a lifeline for businesses looking to...
Don’t get tricked – treat yourself to tax planning this Halloween
It may seem premature to start planning taxes when we have only just passed the mid-point of the tax year on 5 October. But failing to keep on top of your tax obligations is the scariest thing we can think of... Timing is key when it comes to taxation, so plan ahead...
Common mistakes to avoid when transitioning to Making Tax Digital for Income Tax Self-Assessment
Making Tax Digital (MTD) is a Government initiative designed to make it easier for individuals and businesses to get their taxes right and keep on top of their finances. One of the areas impacted by this transition is Income Tax Self-Assessment (ITSA). From April...
What is double-entry bookkeeping, and how does it work?
Double-entry bookkeeping is widely adopted by businesses to help manage finances. It works by entering each transaction into at least two different accounts, once as a debit and once as a credit. Whilst it may sound simple in theory, credit and debit have different...
Navigating your upcoming audit: A guide for preparation and peace of mind
The mention of an audit can create stress and dread. However, audits are not just a statutory necessity; they're a golden opportunity for you to take a close look at your financial health and make improvements where needed. In this blog post, we'll offer you a guide...
Paper VAT registration to be abolished in latest digital move
In the latest move in their Making Tax Digital (MTD) campaign, HM Revenue & Customs (HMRC) is removing paper VAT registration from 13 November 2023. Most tax services have moved online over the past few years, with the incentive to offer only online services...
Hayward Wright raises thousands for children’s mental health charity at annual golf event
Worcestershire-based accountancy firm, Hayward Wright, held its Annual Charity Golf Day last month in partnership with YoungMinds – a leading charity that fights for young people’s mental health by providing a range of support to children, young adults, parents, and those who work with children.