Insights

Labour is holding its first budget on 30th October and speculation has been rife about its potential impacts, especially on small businesses. All existing clients will receive a summarised easy to understand budget report on the 31st October, highlighting any issues...

If you are a sole trader, or operating in a partnership, then the basis period reform which commences in 2023/24 could affect you. If your accounting period does not align with the tax year, then you must extend your accounting period to 5th April (or 31st March)....

The latest HMRC scams seem to be reverting back to postal letters – just as everyone is now more alert to potentially fraudulent emails and text messages purported to be from HMRC. If you receive any communication from HMRC asking for payments (especially with some...

As we embark on the 2024/25 tax year, just now is as good a time as any to have a ‘spring clean’ of your business accounts, or your personal tax situation. Although January 2025, being the deadline for submitting your self-assessment tax return and paying any tax due,...

In the dynamic world of business, maintaining a firm grip on your financials is crucial for success. No matter the size or industry of your company, managing your financial transactions is a task that can't be ignored. That's where Smith Accountancy steps in to help...