At LT Accounting, we recognise that keeping up-to-date with the latest accountancy news and regulatory changes is not merely a requirement—it’s a strategic edge for your UK business. Our knowledge hub is committed to delivering the most current and influential accounting insights, trends, and updates.
Navigating the New Tax Year UK: Key Changes and Strategies for UK Businesses
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. [...]
Understanding VAT: A Comprehensive Guide for UK Businesses
Introduction to VAT in the UK Value Added Tax (VAT) is a crucial element of the UK tax system, impacting most goods and services consumed or used within the country. As a consumption tax, it's not just a concern for businesses but indirectly affects everyone, with its implementation being a [...]
Navigating Capital Gains Tax for UK Investors and Property Owners
Understanding Capital Gains Tax Understanding Capital Gains Tax (CGT) in the UK is paramount for investors and property owners aiming to optimise their financial decisions. This tax, levied on the profit realised from the sale of a non-inventory asset exceeding its purchase price, impacts a wide range of investments, including [...]
VAT Threshold Increase from £85,000 to £90,000: A Guide for Small Business Owners
The UK government has announced a significant change in the threshold for VAT registration, The VAT Threshold Increase from £85,000 to £90,000, effective from 1st April 2024. This adjustment has substantial implications for small business owners. In this comprehensive article, we will explore what this change means, how it impacts [...]
The Importance of Financial Forecasting for SMEs
In an ever-evolving economic landscape, the ability to anticipate and strategically plan for the future is not just an asset; it's a necessity for survival and growth. For small and medium-sized enterprises (SMEs) in the UK, Financial forecasting for SMEs emerges as a cornerstone of this anticipatory planning, offering a [...]
Understanding Annual Accounts: A Guide for Company Directors
The preparation and filing of annual accounts are pivotal responsibilities for directors of UK companies. These documents not only fulfil legal requirements set by Companies House and HM Revenue & Customs (HMRC) but also serve as a cornerstone for financial transparency, strategic planning, and stakeholder confidence. Annual accounts give a [...]