Making Tax Digital: A cautious but firm step forwardThe most significant administrative update was the proposed, phased extension of Making Tax Digital for Income Tax (MTD for IT). The new timeline will see sole-traders and landlords with income over £20,000 required to join from April 2028. Those earning less than £20,000 remain outside of the…
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Boosting SME Exports – Government Launches Expert Trade Panel
The UK government has recently unveiled a revamped Board of Trade aimed at bolstering the export capabilities and growth of small and medium-sized enterprises (SMEs). This initiative is part of the broader 'Plan for Change' strategy, which seeks to empower the nation's 5.5 million SMEs to expand their reach in global markets.Composition and Objectives of…
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Charities Warned About Fraudulent Letters
The Charity Commission has recently issued a warning about fraudulent letters being sent to charities and their trustees, impersonating the Commission to deceive recipients.These deceptive communications often request actions such as:Removing a trustee or chief executive from their position.Releasing funds as part of a supposed grant.Supplying sensitive documents like passports or utility bills.The letters may…
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The outlook for UK interest rates
What to ExpectAs we move further into 2025, the direction of UK interest rates remains a key focus for businesses, homeowners, and investors alike. The Bank of England (BoE) has already adjusted rates, and speculation is rife about what comes next.Current State of Interest RatesThe BoE recently reduced the base interest rate from 4.75% to…
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