GRC Blog

Apr 8, 2025

New Tax Year, New Accountant: Why Now?

As we welcome in the new Tax year, it’s the perfect time for businesses in Wirral and beyond to consider a financial makeover. West Kirby based, GRC Accountants are your trusted, local partner transforming the way you approach accounting, payroll, funding, financing, and more. GRC ...

Mar 27, 2025

Tax changes you need to know about in 2025

Labour’s Autumn Budget introduced a number of changes that will affect businesses and the self-employed, many of these are shortly coming into force as we enter the new tax year.We have highlighted all of the tax changes coming into effect in the 2025/26 tax year, to help you and your ...

Nov 6, 2024

Autumn Budget 2024: All the Highlights

Wednesday's budget saw Chancellor Rachel Reeves vow to exclude 'working people' from tax hikes, but business owners, pension holders and investors will see big changes, we've analysed how our clients could be affected by these changes. Business owners: National Insurance ...

Sep 11, 2024

Autumn Budget 2024 Predictions

BUDGET Chancellor Rachel Reeves has announced that this year’s Autumn Statement will take place on Wednesday, October 30, we will be waiting with baited breath for the announcement as we anticipate a major shake up to our current taxes. The Prime Minister has warned of a ...

Aug 28, 2024

Exemption of VAT on private school fees to be removed in 2025

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 ...

May 31, 2024

HMRC Payments on Account

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 ...

Mar 14, 2024

Spring Budget 2024

National Insurance Cut The big headline last week's budget was Hunt's two percentage point cut to national insurance, a payroll tax that pays for certain state benefits. This will start in April. In essence it is cheaper for the government to cut national ...

Feb 29, 2024

Companies House Fee Increases 2024

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 ...

Oct 19, 2023

The State pension and triple lock: What is it worth to you?

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 ...

Oct 3, 2023

Understanding VAT Thresholds

Understanding VAT Thresholds VAT (Value Added Tax) is a tax added to most products and services sold by commercial businesses so long as their annual turnover is above the threshold. Businesses have to register for VAT if their taxable turnover is more than £85,000. They can ...

Apr 20, 2023

Spring Budget 2023

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 ...

Jan 26, 2023

HMRC Introduce Text Service

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 ...

Nov 24, 2022

Autumn Budget 2022

Jeremy Hunt has unveiled massive £24bn tax hikes this morning as the OBR confirms economy is ALREADY in recession. We have gathered together the headlines from today's budget and how you may be affected, if you need further advice, please do not hesitate to contact Gareth and the ...

Oct 20, 2022

It's finally here!

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 ...

Oct 20, 2022

How the mini-Budget U-turn will affect your finances

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 ...

Jun 29, 2022

Proud Sponsors of Hillbark Players

After a two year hiatus, we were delighted to return as sponsor of the Hillbark Players again this year, their magical performance of The Tempest, set in Royden Park was another brilliant success and a huge credit to the army of cast, crew and willing volunteers that contribute to ...

Mar 2, 2022

Are you considering buying a new business?

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 ...

Mar 2, 2022

Selecting the Right Accountant

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 ...

Jul 27, 2021

Preparing for a new financial year

For many of you managing your own business, you will now be preparing for the new financial year. It takes a lot of effort and passion to start your own business and even more to keep it growing! Whatever your business, when you are in the early stages, the hours are very long and there ...

Jul 27, 2021

Budget 2021

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 ...

Jul 27, 2021

Update on the Coronavirus Job Retention Scheme

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 ...

Jul 27, 2021

The EU VAT e-commerce package: how accounting can help

On 1 July, the European Union will change the way in which VAT is reported and paid, potentially impacting anyone in the UK operating a business selling products & services online to consumers and practicing distance selling. “The Covid-19 pandemic has caused a big shift in ...