UK Budget Update 2025: Key Tax Changes You Need to Know
UK Budget Update 2025: Key Tax Changes You Need to Know The 2025 UK Budget Update has been announced, bringing a range of important budget updates that affect individuals, small businesses, and corporations alike. Staying informed about these changes is essential for effective tax planning and financial decision-making. In this article, we summarise the key […]
Making Tax Digital: The 1 Thing ALL Businesses Must do to stay Compliant
Explaining Making Tax Digital Making Tax Digital (MTD) is a key HMRC initiative designed to modernise how individuals and businesses manage their tax. In short, it’s the government’s plan to make tax administration more effective, efficient, and easier for taxpayers. For anyone wondering how making tax digital works, It’s essentially a move away from paper […]
Autumn Budget 2024
Autumn Budget 2024: SDLT Changes and What They Mean for You The recent Autumn Budget 2024 announcement by Chancellor Reeves introduced several significant changes, particularly to Stamp Duty Land Tax (SDLT). These changes, effective from 31 October 2024, are designed to address evolving property market dynamics and impact individuals and businesses investing in residential properties. […]
Navigating the UK Benefits System: A Comprehensive Guide from KPN Accountants
An overview of our guide for navigating the UK benefits system The UK benefits system provides a lifeline to millions of individuals and families, helping them navigate financial difficulties, unemployment, disabilities, and rising living costs. Understanding the full range of benefits available is crucial for ensuring that you can access the support you’re entitled to. […]
Navigating the new merged R&D expenditure credit scheme: What your business needs to know?
As of 1 April 2024, a significant shift in the UK’s R&D tax relief landscape took place with the introduction of the merged R&D expenditure credit scheme. This new regime replaces the previous two schemes—the SME R&D Tax Relief Scheme and the Research and Development Expenditure Credit (RDEC) scheme. For many businesses, this has become […]
Maximising Tax Efficiency: Dividend vs. Payroll in 2024
As the financial landscape continues to evolve, so too must the strategies employed by business owners and directors when it comes to profit extraction, we look at maximising tax efficiency. With the 2024-25 financial year on the horizon, understanding the implications of choosing between dividends and payroll (including salary and bonuses) is more important than […]