Oct 09

Government cracks down on late payments

The government has announced a crackdown on late payments to small businesses and the self-employed. Late payments cost SMEs £22,000 a year on average, according to Smart Data Foundry, while the Federation of Small Businesses says it leads to 50,000 business closures a year. The government will consult on new laws that will hold larger […]

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Young people reminded to reclaim government savings

Over half a million young people are yet to lay claim to Child Trust Funds worth an average of £2,212, HMRC has said. Child Trust Funds are long term, tax-free savings accounts which were set up, with the government depositing £250, for every child born between 1 September 2002 and 2 January 2011. Young people […]

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£5.5 billion lost as a result of tax evasion

An estimated £5.5 billion was lost due to tax evasion during 2022/23, according to a report published by the National Audit Office (NAO). The NAO stated that ‘significant weaknesses’ in government systems have left the UK ‘too open’ to tax evasion. According to HMRC, 81% of the tax evasion came from small businesses. HMRC said that, while […]

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HMRC urged to take action to defuse side hustle time bomb

HMRC has been urged to defuse a tax bombshell threatening online traders, by the Low Incomes Tax Reform Group (LITRG). The LITRG, which is part of the Chartered Institute of Taxation (CIOT), says the tax authority must take action in order to make sellers aware of the fact that they may need to file a […]

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apprenticeship reforms

Government announces apprenticeship reforms

The government has announced an overhaul of the UK’s apprenticeship system. A new growth and skills levy which will replace the existing apprenticeship levy and include new foundation apprenticeships. The government says these new apprenticeships will give young people a route in to careers in critical sectors, enabling them to earn a wage whilst developing vital […]

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reform blog

Reforms to IHT, CGT and NI ‘could raise over £20 billion a year’

The Resolution Foundation has suggested that reforms to inheritance tax (IHT), capital gains tax (CGT) and national insurance (NI) could raise more than £20 billion a year. The Foundation said that the reforms could also pass a ‘triple tax test’ of improving tax efficiency, making sure that tax rises fall on those with the broadest shoulders. It […]

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Billion-pound tax bombshell to hit hospitality, warns trade body

The end of business rates relief will sting hospitality with a £928 million bill in April unless the government acts in the Budget, warns UKHospitality. Hospitality and leisure businesses face their bills quadrupling if business rates relief ends as planned on 31 March, it adds. The trade body is calling for the Chancellor to introduce […]

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off-payroll rules

IPSE calls for fairer off-payroll rules in Budget

The Chancellor should use her Autumn Budget to make off-payroll working rules ‘fairer and more effective’, according to the Association of Independent Professionals and the Self-Employed (IPSE). IPSE says that the rules, commonly known as IR35, are still causing significant disruption for businesses and public bodies needing to recruit freelancers and contractors for their operations. An […]

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Oct 07

Appointment of Kerry Morgan as New Director

[St Asaph, North Wales, 01/07/24] – Sage & Company, one of the most established accountancy firms in North Wales, is delighted to announce the appointment of Kerry Morgan as its newest Director. Kerry, a Chartered Accountant with over 20 years of industry experience, brings a wealth of knowledge and expertise to the leadership team. Kerry […]

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Sep 23

Office closed Tuesday 1 October 2024 staff training.

The office will be closed on Tuesday 1 October 2024 due to staff training.

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Sep 05

Latest guidance for employers September 2024

HMRC has published the latest issue of the Employer Bulletin. The August issue has information on various topics, including: electronic payment deadline falls on a weekend P11D and P11D(b) for tax year 2023 to 2024 supporting employees with changes to the High Income Child Benefit Charge pensions for seasonal temporary staff getting your new employees […]

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Advisory fuel rates for company cars September 2024

New company car advisory fuel rates have been published and took effect from 1 September 2024. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on […]

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UK has record number of self-employed workers aged 60 blog

UK has record number of self-employed workers aged 60 or over

The number of self-employed people aged 60 or over has reached a record level, according to analysis by Rest Less. These numbers have increased by over a third in the past decade, totalling 991,432 self-employed people aged 60 or over in 2023. The analysis found that while the number of self-employed workers in their 50s […]

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Freelancers want to see fairer, simpler tax system from Autumn Budget

Freelancers want to see Chancellor Rachel Reeves use the Autumn Budget to move towards a fairer, simpler tax system, according to the Association of Independent Professionals and the Self-Employed (IPSE). IPSE’s research found that 80% of freelancers believe that government tax policies, such as IR35, are harming their businesses. Meanwhile, just under half of freelancers […]

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Scrap fuel duty cut blog

Scrap fuel duty cut, says RAC

The 5p cut in fuel duty to be scrapped in the upcoming Autumn Budget, according to the RAC The motoring organisation says that motorists in the UK are ‘not gaining any benefit’ and retailers have failed to pass on lower petrol and diesel prices to drivers. Prime Minister Keir Starmer recently refused to rule out a rise […]

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HMRC late payment interest cutblog

HMRC late payment interest cut by 0.25%

HMRC has reduced late payment and repayment interest rates following the cut to the base rate. The Bank of England cut the base rate to 5.0% on 1 August, the first reduction for over four years. This has triggered a cut in HMRC interest rates which are pegged to the base rate. From 20 August, […]

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crypto investors

HMRC sends ‘nudge letters’ to crypto investors

HMRC has ‘sent nudge’ letters to crypto investors who it suspects have failed to pay the correct tax on their gains, according to the Chartered Institute of Taxation (CIOT). Many crypto investors are unaware of their tax obligations due to uncertainty over tax rules and limited understanding of the nature of crypto assets. A chargeable […]

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HMRC failing on responsiveness, says Charter report blog

HMRC failing on responsiveness, says Charter report

HMRC is failing on the key metrics of responsiveness, ease and accuracy, according to the annual HMRC Charter report. The report reviewed HMRC’s performance against its Charter from April 2023 to March 2024. The survey received over 1,600 responses, with complaints about service levels a recurring theme. ‘Being responsive’ scored the lowest of the Charter […]

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Aug 07

We are hiring -Junior Trainee Accounts Assistant

Sage & Company Chartered Accountants have a fantastic opportunity for a Junior Trainee Accounts Assistant to join the ever-growing team in their St Asaph office. The practice is a well-established, professional, and friendly firm with a focus on supporting our clients’ needs with a flexible and proactive approach. The role would include providing assistance in […]

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GlobalWelsh is creating a global community for Welsh people & friends of Wales

Take a look at this amazing website – GlobalWelsh – GlobalWelsh is creating a global community for Welsh people & friends of Wales, celebrating Welsh success and transforming the Wales we know. We’ve spent quite some time in discussions with Ambition North Wales around inward investments and have been guided to this website https://globalwelsh.com/   […]

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From first going self-employed to starting a limited company, the fantastic accountants at Sage have talked me through the processes and looked after all things accounts-related, leaving me with peace of mind; free to focus on the day-to-day operating of the business. Sage handles everything for me from payroll to tax returns and their service is flawless; when I need something its done; when I need info I get it. All of their staff are friendly, professional, efficient and patient and I couldn’t manage without them.

 

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