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Is 2023 the time to give your finances a health check?  

As the cost of living crisis continues to put pressure on budgets across the country it is worth looking at ways to get more for your money and review different areas of your personal finances. 

Not only has the cost of all areas of living soared, but Jeremy Hunt’s tax threshold freezes mean more people will end up being dragged into a higher tax bracket.  

Good financial planning, especially in light of the chancellor’s Autumn Statement, could put you in a stronger position during these uncertain times. 

Cash is back! How can you get the most from your savings as interest rates continue to rise?

Interest rates have rapidly increased since the start of the year, with the most notable indicator being the base rate which has increased from 0.10% to 3% since December 2021.

Armstrong Watson helps to secure future of longstanding Cumbrian law firm

Legal Sector Partner Andy Poole and his team supported Bleasdale & Co by arranging and securing an acquisition of the business by Bendles Solicitors, another local law firm which covers similar areas of law.

New penalties for late VAT returns and payments

In the new year businesses and individuals who submit VAT returns late or miss their payment deadlines could be fined £200.

7 Tips to get your family finances in order – at Christmas and beyond

There is no escaping the fact that prices are going up and for many, it will be harder to budget this Christmas. Here are some simple money-saving tips to help you in the run-up to Christmas and into 2023 and beyond.

Using invoice finance to support your business

One of the biggest challenges for any business is managing its working capital requirements, to ensure that there is sufficient cash within the business to fund day-to-day operations.

Who is a Person with Significant Control (PSC) and what are their responsibilities?

Companies House has recently been writing to clients where they suspect that the PSC (Person with Significant Control) register is incorrect or has not been updated following changes in shareholders or ownership, as identified on the Companies confirmation statements.

How good financial planning can help offset the impact of the Chancellor’s Fiscal Drag

It is likely that The Chancellor will continue to freeze a number of thresholds and allowances meaning that many people will be dragged in to paying more tax in one way or another. This is called “fiscal drag”.

With inflation rising, should you rethink investment returns?

From January 2000 to the start of 2022, inflation averaged 2.3%. It has now (May 2022) jumped to 9% in the 12 months to April, up from 7% in March the highest for 40 years. That means that if you were born after the early 1980’s, you have not experienced the sort of economic environment we are now experiencing.

Income Tax Basis Period Reforms

The Government announced a major reform to the way in which a business owner’s trading profits are allocated against the relevant tax year for income tax purposes – otherwise known as their ‘basis period.’