News
At Hysons we want to make sure we are providing the latest new and useful accounting information to businesses and people in need of advice.
What’s Happening With Making Tax Digital?
Are you clued up on what’s happening with HMRC’s Making Tax Digital (MTD) initiative? Launched in 2019, this scheme requires businesses of all sizes to record, submit, and pay taxes online. For many, this change has seen processes switch from paper accounting to the use of digital platforms. Keep reading to discover the latest MTD…
Spring Budget Statement 2025
Chancellor of the Exchequer, Rachel Reeves, held the Spring Statement on Wednesday 26 March 2025. In the run up to the event, the Chancellor stated that she ‘remains committed to one major fiscal event a year to give families and businesses stability and certainty on upcoming tax and spending changes and, in turn, to support the…
Mastering Expense Management in Your Business
Establishing reliable expense management is vital for any business. As well as supporting sustainable growth, enhanced profitability and stronger compliance, having control over company spend also supports a healthy cash flow. In this article, we’ll highlight some key strategies that businesses can adopt to master expense management, plus share details of the support provided by…
Understanding Potential Threats To Your Business Value
Creating a successful business takes lots of time, hard-work and dedication. As well as being mindful when it comes to planning and forecasting, all business owners should be mindful of the potential threats that may impact them. In this article, we’ll highlight what the most common threats are and share advice for how business owners…
What You Need to Know as the Personal Tax Deadline Approaches
Keeping on top of tax is important not just for limited company directors but also anyone who has received untaxed income through other sources. From self-employed professionals to landlords, it is important to manage personal tax correctly. January 31st is one of the most pivotal dates in the personal tax-year which we will share details…
Data-Driven Decision-Making: Cash Flow and Financial Health
Does your business use data to ensure that all activities support financial growth? With 65% of organisations confirming they plan to be fully data-driven by 2026, now is the time for organisations to consider how to implement processes which ensure data-insights are always available. Whether you want to master the art of data-driven decision-making to…
What to Look out for When Buying a Business
Are you considering investing in a new business? If so, there’s no doubt it can be an exciting time but also one you should take seriously so as not to make an incorrect choice. With around 5.6 million private sector businesses currently active in the UK, there are certainly lots of companies to select from…
Autumn Budget October 2024
Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’. Billions in tax rises Ms Reeves said the Budget will raise £40 billion in taxes. Employers’ National Insurance contributions (NICs) will be increased from next April while Capital Gains Tax rates will…
Keeping your tax and expenses in check when you are self-employed
As of June 2024, there are 4.27 million self-employed professionals in the UK. This figure has continued to increase in recent years as people look to take control of their earning potential. Whether this is because individuals want to be their bosses or the cost of living crisis means a side hustle is essential, self-employment…
Getting Your Business Ready For Sale When Approaching Retirement
As of February 2024, 30% of UK business owners confirmed they plan on selling their business to fund retirement plans. With many owners investing all of their profits back into the successful performance of their companies, this is a common theme we see for organisations of all sizes. However, 1 in 8 business owners have…
How Do Salary Sacrifice Schemes Work?
With 84% of UK companies planning on adopting salary sacrifice schemes during 2024, understanding how this process works is essential. Understanding the finer details is important not only for employees who want to ensure they are getting what they are entitled to but also for ensuring tax compliance. In this article, we will explain how…
Maintain Trade Business Success Whilst You Are Away
Are you one of the 73% of SME business owners who don’t take time off? If so, we understand that the concept of leaving your company behind can be overwhelming, as you want to ensure you remain competitive at all times. However, not taking any time off will rapidly lead to burnout, which makes any…
How Much Should You Pay Yourself As A Business Owner
A common question we get asked is what can be considered a tax efficient amount to pay yourself as a business owner. With many costs to account for, knowing how much to take from a company can be difficult, but the reality is that a salary is essential for many. If your business planning has…
Business Expenses – What You Can and Can’t Claim as a Limited Company
As part of the business planning service that we offer at Hysons, we often get asked about types of business expenses that limited companies can claim for. Companies can reduce taxable profits when managed efficiently, resulting in lower liabilities. This also ensures compliance with the latest tax regulations and strengthens financial planning. Despite the benefits,…
Year End Tax Planning Series – Personal Investment Tax
Understanding how best to manage your taxes means having a clear idea of personal investment tax opportunities that will unlock many benefits. In the final instalment of our year-end tax planning series, we will share our insights as to what actions you should be taking now and how best to optimise them throughout the new…
Year End Tax Planning Series – Family Companies: Assess Profit Extraction Strategy
Welcome to the next instalment of our year-end tax planning series, in which we are sharing our expertise about how you can best prepare for a successful year-end and new-year planning period. In this article, we are talking about family businesses, of which there are around 4.8 million in the UK. In particular, we are…