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Weekly Business News
December 9th Business News
Welcome to the DPC round up of some of important business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you!
To view previous business newsletters, click here
Monthly Tax News
December 2024 Tax News
The December edition of DPC Tax News. We hope that you find this informative. Please contact us if you wish to discuss any matters in more detail. Have a great Christmas and best wishes for 2025.
To view previous tax newsletters, click here
DPC Tax Bites
Our DPC tax specialists speak out on topical issues relating to how tax and legislation effect you.
We are Hiring
Tax Manager
You will be reporting directly to the Tax Director predominantly, you will play a critical role in the review and completion of tax returns for a varied client portfolio. You will also identify opportunities to contribute towards the development of a larger advisory function.
Audit Senior
You will provide a wide range of audit services across a diverse range of clients, collaborating with internal and external stakeholders to deliver a high calibre audit service. Our audit function is growing, and the successful candidate will have a defined pathway for personal and professional development along with opportunities for career progression.
Accounts and Audit Semi-Senior
You will work with multiple clients to complete full Accounts Preparation, Corporate Tax Returns and Management Accounts. You will have opportunities to work with a varied client portfolio including SME, Sole Trader and Limited Companies as well as larger clients where you have the option to develop skills within audit if you would like.
Accounts and Audit Senior
You will manage a varied portfolio of clients (SME, Sole Trader and Limited Companies as well as larger clients), acting as a first point of contact. You will be responsible for their end-to-end accounts. The nature of our clients and our approach will also give you the opportunity to work within audit if you would like.
Practice News
Blogs and Articles
Lump sum death benefit charge – what do you need to tell HMRC?
New guidance has been published by HM Revenue and Customs (HMRC) to help legal representatives find out what they need to tell HMRC to calculate the lump sum death benefit charge. When someone passes away and their estate includes certain financial products like pensions or life insurance products, any lump sum death benefit received by the beneficiaries might be subject to inheritance tax.
Don’t get caught out by tax avoidance
HM Revenue and Customs (HMRC) are running a campaign to help people avoid being caught out by tax avoidance schemes. This is particularly relevant to those who are contractors, agency workers, or are working through an umbrella company.
Updated VAT road fuel scale charges from 1 May 2024
From 1 May 2024, the VAT road fuel scale charges will be updated. The new rates will need to be used from the start of the next VAT accounting period that begins on or after 1 May. So, if your next VAT quarter starts on 1 June, you will begin using the new rates for the quarter that begins on 1 June.
Employment Law changes in April
New employment laws came into force on 6 April 2024 that apply to all businesses. This article provides a brief summary of the changes for flexible working, carers leave, pregnancy and family leave and paternity leave.
Labour party publishes plan to close the tax gap
The Labour party has published their plan to close the tax gap – the gap between tax owed and tax paid – which is estimated at £36 billion. The plan broadly proposes to do this by boosting tax compliance. Labour plan to be able to raise up to an additional £5 billion a year as a result of their proposed measures.
Unleash the power of generative AI: A potential game-changer for your business
DPC accountants Stoke-on-Trent understand the importance of leveraging technology to drive efficiency and innovation in business operations. In this article we will introduce you to the concept of generative artificial intelligence (AI) and the transformative power it could have for your business. Now, you might be wondering, what exactly IS generative AI?
Is your business Disability Confident?
New Disability Confident guidance has been published to help managers recruit, retain, and foster the progression of disabled people and those with health conditions in the workplace. The Disability Confident scheme is voluntary and helps employers make the most of the opportunities that can come from employing and developing disabled people.
Consultation on law changes to make apologising easier
A new consultation has been launched to find out how the law could be updated to make it easier for organisations to apologise more when they make mistakes. Many organisations are reluctant to apologise because they are concerned that it will be interpreted as an admission of fault.
Have you checked your tax code?
Prior to the tax year starting each 6 April, HM Revenue and Customs (HMRC), will issue new tax codes to employees, usually where there is a change of tax code. These tax codes, a series of letter and numbers, allow employers to deduct the right amount of tax to be deducted from each employee when the payroll is run.
Flooding support fund for farmers opened
It has been a difficult winter for many farmers with flooding and extreme weather damaging agriculture and property and equipment. Some farmers have suffered uninsurable damage to their land as a result. A Farming Recovery Fund has now been opened by the government to support these farmers.
New R&D tax relief guidance available
For accounting periods beginning on or after 1 April 2024, a new merged scheme for research and development tax credit comes into force. The new merged scheme replaces the old RDEC and small and medium-sized enterprise (SME) schemes. The new scheme reduces the amount of benefit that would generally have been received under the old scheme.
Safety notice issued on thermites
The Health and Safety Executive (HSE) have issued a safety notice about the manufacture, storage and carriage of thermites and thermite containing articles. Thermites are a type of pyrotechnic composition that produces intense heat and molten metal.
What can you do to recover a hacked account?
Losing access to any of your digital accounts can be very stressful, and if it’s an account you need for work this can be doubly the case. The National Cyber Security Centre (NCSC) produces guidance that can help the self-employed and sole traders as well as any individual recover a hacked account.
Thinking of buying another business? What due diligence should you consider?
The Health and Safety Executive (HSE), via their Working Minds campaign, has declared April Stress Awareness Month. Work-related stress is an important consideration for businesses since all employers have a legal duty to prevent work related stress to support good mental health in the workplace.
April is Stress Awareness Month
The Health and Safety Executive (HSE), via their Working Minds campaign, has declared April Stress Awareness Month. Work-related stress is an important consideration for businesses since all employers have a legal duty to prevent work related stress to support good mental health in the workplace.
Are training costs tax deductible for the self-employed?
HM Revenue & Customs have recently updated and clarified their guidance on training costs paid by the self-employed. The general rule for whether the cost of a training course can be deducted from your self-employed profits is that it must be incurred wholly and exclusively for the purposes of the trade being carried out by the business at the time that the training is undertaken.
What is the future for the National Minimum Wage?
The Low Pay Commission (LPC) has published a report on the future of the National Minimum Wage beyond 2024. In recent years, the LPC has been setting the National Living Wage based on a target of two-thirds of median hourly earnings.
Farmers encouraged to keep everyone safe around livestock
The Health and Safety Executive (HSE) have reminded farmers to stay safe around livestock, not just for themselves and their workers, but also with walkers who may use public footpaths. Their Your Farm, Your Future campaign is aimed at improving safety on farms, and there is a focus on livestock in 2024.
Budget 2024
On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that the government must hold a general election before 28 January 2025, this was a Budget designed to restore confidence and win voters. But on the heels of Britain entering a recession and downgraded Office for Budget Responsibility (OBR) forecasts, the Chancellor had his work cut out.
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