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News | Saul Fairholm

National Career Development Month

November is National Career Development month, a whole month dedicated to career development and growth. Here at Saul Fairholm, we offer a variety of different roles and opportunities for progression. To help you understand where you want to be in your career or track your qualifications, a career development plan would be a great document… See more

Paper VAT registrations end on 13 November

The new rules will come into effect from 13 November as part of HMRC’s Making Tax Digital (MTD) strategy. Taxpayers will have to register for VAT through the online VAT Registration Service using their Government Gateway account. However, some types of business will not be able to use the service as the online service still… See more

Majority of businesses expect taxes to rise

More than three quarters of businesses (77%) expect to pay the same or higher taxes after the next general election, while just under a quarter (23%) expect business taxes to reduce, found a BDO survey of 500 mid-market businesses. The mood has shifted quickly, after a similar BDO survey in July suggested that a majority… See more

Small companies will have to report P&L figures

Under the new rules in the Economic Crime and Corporate Transparency Act 2023, small companies will be required to file a profit and loss account and directors’ report. This will ensure that key information such as turnover is available on the public register. Companies will no longer be able to file abridged accounts. A spokesperson… See more

Hike in directors trying to avoid tax debt by dissolving business

The number of objections to company strike offs at Companies House was 590,063 in 2022/23, more than double the figure just two years ago when there were 203,613 rejections in 2020/21. In the last year alone there has been a 30% increase to 452,209 in 2021/22, found analysis by Price Bailey. This shows the spike… See more

HMRC has New Powers to Access Side-Hustle and Gig Economy Financial Data from 1st January 2024

With the meteoric growth of digital selling platforms such as Etsy, Amazon FBA, Upwork, Uber, Deliveroo and Fiverr, it has become essential for tax authorities to adapt to this evolving landscape. In response, HM Revenue and Customs (HMRC) now has powers to force the sharing of financial data held within these digital platforms. They have… See more