Earlier today, Chancellor Jeremy Hunt delivered the Autumn Statement 2023. He began by stating that the economy had performed better than expected and that “real” income had increased. As a result, he announced 110 measures in the Autumn Statement that aim to drive growth. We were thankful that he did not go into each and […]
Author Archives: Priya Raja-Motala
15
Nov
Nov
In the field of the rental business, whether an expense is tax deductible will very much depend on what it is. However, the ability to deduct expenses in a property business depends on the status of your rental business. So, what do we mean by the status of the business? Well, when it comes to […]
01
Nov
Nov
A couple of years ago we were discussing if contracting was dead in the water. The introduction of IR35 reforms in April 2017 and April 2021 had raised questions. The issue of IR35 so to speak. These reforms transferred the responsibility of determining IR35 status from contractors to clients, causing a significant compliance burden. It […]
25
Oct
Oct
It’s been some time since we saw a weakness in the UK job market. But this week we received news from the Office for National Statistics (ONS) that unemployment rose slightly to 4.2% (from 4%) in the three months to August 2023. So, what’s happening to the UK economy? The ONS explained that the figures […]
18
Oct
Oct
Have you ever wondered what the cycle to work scheme is? Do you have friends or family who are taking their bike all or part of the way to work and saving tax in the process? The cycle-to-work scheme is used by over a million employees across the UK. It saves them money and enables […]
11
Oct
Oct
For several years now, HM Revenue & Customs (HMRC) has been aware that scammers have been using them as the subject of their schemes. After all, something as serious as tax gets everyone’s attention. With the tax return season in full swing, the swindlers are going to be trying harder as more people will be […]
04
Oct
Oct
As accountants, we have become accustomed to seeing situations where our clients combine their business and personal expenses. Our role is often (especially when we are doing the bookkeeping) to sift through these expenses and explain the duality of purpose to our clients. So, what is duality of purpose? Simply explained duality of purpose is […]
27
Sep
Sep
Last month, HM Revenue and Customs (HMRC) released the first update from their National Minimum Wage (NMW) promotion team. Going forward, they plan to provide quarterly updates on certain things to watch out for when calculating the minimum wage. You should sign up for the employer bulletins. Why is it important to get the […]
19
Sep
Sep
Myers Clark has always believed that a strong Corporate Social Responsibility (CSR) is important for the company, its clients, and the community. For years, we have been helping financially where possible. Albeit in a very small way. We used to have dress-down days like the “mufty days” in school, and staff members would donate money […]
13
Sep
Sep
Currently, in the UK, there is a shortage of high-quality staff to support businesses. There are multiple reasons behind this, and some of them are beyond our control. However, you can control the type of employer you are. The initial step is to comprehend your responsibilities as an employer. So what are your duties as […]