Should You Incorporate? Understanding the Shift from Sole Trader to Limited Company
Starting a business as a sole trader is the simplest way to dip your toes into entrepreneurship. You register with HMRC, file an annual tax return, and handle VAT if applicable. It’s straightforward, especially in the early stages when your business is just finding...
Bank of England Cuts Interest Rates to 5%
On 1st August 2024, the Bank of England (BoE) announced a cut in interest rates from 5.25% to 5%. This decision marks the first rate drop since March 2020, as the economy grapples with post-pandemic recovery and inflation management. For small businesses, this rate...
New Tax Rules for Non-UK Domiciled Individuals
The Government has recently unveiled significant changes to the taxation system for non-UK domiciled individuals, aiming to create a fairer and more competitive landscape. For small businesses in the UK, understanding these changes is crucial as they could impact...