Making financial gifts during your lifetime is a thoughtful way to provide for your loved ones while also reducing your estate’s exposure to Inheritance Tax (IHT).
Author Archive: Muhammad Zia
HMRC cut advisory company car fuel rates – What does this mean for your business?
If your business reimburses employees for business travel in their company cars or if employees are required to repay fuel costs for private travel, it is important to keep up to date with the advisory fuel rates set out by HM Revenue and Customs (HMRC). Continue reading
Why outsourcing payroll could be the key to lifting your business burden
With this week being National Payroll Week, it’s a great time to explore how businesses manage their payroll and if they are being effective enough.Continue reading
What if the Chancellor increases Capital Gains Tax? A look ahead to the Budget
As we approach the Autumn Budget on 30 October, speculation is rife about potential changes that could impact taxpayers across the UK. Continue reading
Payroll superheroes are the key to a well-oiled business machine!
Preston-based accountancy firm, Rotherham Taylor, is kicking off National Payroll Week with a celebration of payroll superheroes up and down the country – keeping businesses going with the power of planning and efficiency!
The firm, which provides a full range of accountancy, business advisory, tax and payroll services, recognises the potential of an efficient payroll team in supporting all other aspects of business operations and growth.
Not only is the right payroll team crucial for ensuring all team members are paid correctly and on time, it is also the superpowered key to budgeting for investment and growth.
With staffing costs on the rise, a payroll team with its finger on the button is able to show business owners where they stand in terms of regular outgoings – supporting, says the firm, a long-term plan for the allocation of profit.
Additionally, an efficient payroll team stands in defence against legal challenges and financial penalties when new legislation is introduced, such as the 2024 changes to the way in which holiday pay is calculated for part-year and irregular hours workers.
Rebecca Bradshaw, Director at Rotherham Taylor said: “Payroll is one of those critical business functions that no company could succeed without, and yet it often gets sidelined within businesses.
“Our most successful clients know and value what their payroll team does for them, however.
“They provide their superheroes with the time, resources and professional development that allows them to excel.
“That said, it’s not always feasible to bring payroll in-house – but getting it right is still essential. This is where our own superheroes come to the rescue!
“Whether it’s outsourced or done in-house, payroll is the key to happy staff, ongoing budget planning and smooth internal operations which drive all other efficiencies, including satisfied clients.
“This National Payroll Week, we’re joining in the payroll revolution and recognising the skills that make a good business great.”
How to protect your business from HMRC-related scams
We’ve all become increasingly savvy when it comes to identifying scams, yet this hasn’t deterred fraudsters, who are finding new ways and schemes to trick businesses into parting with their hard-earned profits.
HMRC investigating tax obligations of those who breed and sell animals
As more people turn their passion for breeding and selling animals into a source of income, HM Revenue & Customs (HMRC) will be writing to people to ensure that those involved in these activities are paying the correct tax.
Have you paid the right amount of High Income Child Benefit Charge for 2022/23?
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Tax planning tips for minimising dividend tax liability
As a business owner, managing your income well is vital for sustaining both your business’s health and your personal finances.
Cost-cutting strategies for SMEs amid energy price increases
Economic uncertainty often forces businesses to seek ways to reduce expenses without sacrificing quality or service.
















