News2024-04-15T10:32:43+00:00

Accountancy News and Updates

At LT Accounting, we understand that staying abreast of the latest accountancy news and regulatory updates is not just a necessity—it’s a competitive advantage for your UK business. That’s why we’ve dedicated our blog to bringing you the most current and impactful accounting insights, trends, and updates.

Accountancy News Categories

What is Inside IR35?

Taxation|

IR35 is a tax legislation in the United Kingdom designed to identify and tackle tax avoidance by workers supplying their services to clients via an intermediary, such as a personal service company (PSC), who would otherwise be an employee if the intermediary was not used. Understanding whether you fall inside [...]

What is a Payroll Service Number?

Employer|

Introduction to Payroll Service Numbers A Payroll Service Number (PSN) is a critical element in managing payroll responsibilities efficiently in the UK. Specifically, it serves as a unique identifier linking the payroll data of employees with the designated payroll service provider, facilitating the accurate and timely processing of payroll under [...]

CIS Deductions: The Key to Maximising Your Profit as a Contractor

CIS|

Overview of CIS Deductions and its Importance The Construction Industry Scheme (CIS) is a tax deduction scheme which involves tax being deducted at source from payments which relate to construction work. CIS covers most construction work to buildings, including site preparation, decorating, refurbishment, and civil engineering. If you are a [...]

Navigating the Complexities of Payroll for UK Businesses

Employer, Business|

Navigating the complexities of payroll management is a crucial aspect for any UK business, big or small. Effective payroll practices ensure employees are paid correctly and on time, comply with current legislation, and prevent costly penalties. This comprehensive guide provides essential insights into setting up and maintaining a robust payroll [...]

Navigating the New Tax Year UK: Key Changes and Strategies for UK Businesses

Taxation|

The dawn of the new tax year UK brings with it a suite of changes that UK businesses must navigate to maximise their tax efficiency and ensure compliance. From revised corporation tax rates to adjustments in VAT and capital gains tax, understanding these updates is crucial for effective financial planning. [...]