HMRC sends warning to cryptoasset users

As the use of cryptoassets continues to grow HMRC is warning people to check if they need to complete a self assessment tax return for the 2022/23 tax year to avoid potential penalties. Anyone with cryptoassets should declare any income or gains above the tax-free allowance on a tax return. Tax may be due when… Read more…

Raise VAT threshold to £100,000, says FSB

The government should raise the turnover threshold for VAT from £85,000 to £100,000, according to the Federation of Small Businesses (FSB). The business group said that this would give firms stepping into the VAT-paying ring crucial breathing space. It would also be an incentive to grow their turnover without fear of having to charge customers… Read more…

Clarity on new border checks is vital, says BCC

The government must clarify plans around new customs processes as firms remain in the dark about crucial aspects of their operation, says the British Chambers of Commerce (BCC). The first phase of the UK’s Border Target Operating Model began on 31 January, with imports of plant and animal products now requiring export health certificates. It… Read more…

Over 50s bucking decline in freelance numbers

Tens of thousands more over 50s are now running their own businesses despite an overall decline in self-employment since 2020, according to the Association of Independent Professionals and the Self-Employed (IPSE). IPSE’s research found that the number of self-employed business owners aged 50 and over increased to 1.1 million in 2023 – 89,000 more than… Read more…

Global Excellence Awards

We are thrilled to share that Salhan Accountants has been recognized as the Expert Accountancy Firm of the Year 2024 – West Midlands by the 2024 Global Excellence Awards with Acquisition International (AI) Magazine. We are proud to receive this esteemed accolade as it is a testament to our unwavering commitment to providing exceptional accounting… Read more…