GRC Blog

As we look to the new School year, we have outlined the new Labour Government's plans, that as of January 2025, private school fees will no longer be exempt from VAT.  The Chancellor has explained that they are introducing this measure as “ending tax breaks for private schools ... Read More

Payments on account are advance payments you make twice a year towards your Self Assessment tax bill. HMRC estimate how much tax you owe for the upcoming year based on your previous year's tax bill. You pay this estimate over two instalment dates for the purpose of spreading out your ... Read More

Companies House has announced fee increases on some of their services from 1 May 2024:   Transaction New fee Current fee Incorporation Digital £50 £12 Incorporation (same day) Software £78 £30 Incorporation ... Read More

A significant rise in the state pension is expected next April under what is known as the triple lock.The increase, which could be as high as 8.5% is a contentious political issue which continues to cause debate.  The state pension rose in April 2023 by 10.1% - in line with the ... Read More

The recent Budget did not bring any unexpected surprises with policies directed at motivating people into work, and keeping them there with key changes on childcare and pensions. The continuing cost of living crisis facing households was also a major contributor as the Chancellor ... Read More

As part of their efforts to reduce waiting times, HM Revenue and Customs are trialling a text service, which will see routine calls for information answered via message such as requests to find a reference number or reset a password. HMRC is expecting to receive over 150,000 calls ... Read More

It's been a long time coming and anyone who has visited us in recent months will know how much we've been eagerly awaiting the fitting of our brand new glass meeting room, we could not be more delighted with it, MDfitout ltd have been fantastic, a thoroughly brilliant company to work ... Read More

In another chaotic week in Downing Street, Chancellor Jeremy Hunt has axed most of Kwarteng’s recent mini-budget. Mr Hunt announced he was scrapping “almost all” of the tax cuts announced by the government last month, in a bid to stabilise the financial markets. There ... Read More

Acquiring a business can be an exciting but daunting prospect. While it can be hugely worthwhile, it can also prove to be a very long process with difficult decisions to be made along the way, we've put together a few guiding pointers to consider before you get started. Plan AheadThe ... Read More

When you are first getting established in business, its so important to consider your tax affairs from the start. Selecting the right Accountant to help you with this is a vital decision as they will work alongside you, fulfilling an important role in supporting your business.When you run ... Read More

The Economy✔️ The Chancellor said coronavirus has caused one of the “largest, most comprehensive and sustained economic shocks this country has ever faced”.✔️ In good news, The Office for Budget Responsibility (OBR) is now forecasting “a swifter and more ... Read More

The Government have announced that the Coronavirus Job Retention Scheme has been extended until the end of September 2021. This is to support businesses and individuals who are affected by Covid 19. The Government will pay employees 80% of their usual salary for hours not worked, up to ... Read More