Kaizen

22/07/2025

Turn your summer lull into a strategic advantage!
Summer is here, and while it often means a slowdown, it’s the perfect time to supercharge your productivity.

Read our latest blog here

Summer is a time when many of us take our holidays and slow down, leading to a natural lull for many businesses. While this might seem like a challenging period, it’s actually a fantastic opportunity to supercharge your productivity and get ahead of the game. We’ve compiled a list of actionable ...

26/06/2025

Why not outsource your payroll and save time and money? Read our latest blog :

Let’s be honest, running a business is already full-on. The last thing you need is the added stress of managing payroll. It’s not just about making sure everyone gets paid on time (although that’s important!). It’s the admin, the ever-changing tax rules, the deductions…and it all adds up, ...

12/09/2024

Making student loan repayments through Self Assessment

There are three ways in which former students with student or post-graduate loans can make loan repayments:

• from deduction from their wages or salary through the PAYE system;

• to HMRC through the Self Assessment system; or

• direct to the Student Loans Company (SLC).

Students will normally start making repayments from the start of the tax year after that in which they finish or leave their course.

Where an individual is employed, their employer deducts the repayments from their wages or salary and pays them over to HMRC, who pass them on to the SLC. Here, we look at how repayments are made through the Self Assessment system.

09/05/2024

Protect your business from an HMRC investigation

Just the thought of an HMRC investigation can send shivers down the spine of any business owner, but fear not!

What is an investigation from HMRC?
An HMRC investigation is a thorough review of an individual’s or business’s financial records to verify tax compliance. These investigations can range from simple checks of tax returns to comprehensive audits involving a deep dive into accounts, transactions, and records.

What triggers investigations from HMRC?
HMRC investigations into businesses can be triggered by several factors:

Inconsistencies in tax returns regular late filings or payments can signal potential compliance issues, prompting an investigation, tips from whistleblowers

Additionally, HMRC conducts random audits across various sectors, meaning any business

Understanding these triggers can help prevent the possibility of an investigation, so engaging with a good accountant can be crucial at this point.

Maintain transparency in transactions, seek professional advice, ensure timely and accurate filings

14/03/2024

Additional Support For Independent Film Makers – Spring Statement 2024

The Treasury has announced additional support for ‘independent films’ that can currently claim the Audio Visual Expenditure Credit(AVEC): the Independent Film Tax Credit (IFTC). Films that meet the IFTC qualifying criteria will be eligible for a higher rate of expenditure credit on their qualifying expenditure. The basic rate of credit under AVEC is 34%- independent films will receive a rate of 53%.

To qualify for the IFTC, a film must pass a new test administered by the British Film Institute. The test is intended to target films that have a projected core expenditure of £15 million or less. The test is also expected to require that either key talent on the film, such as the director and writer, must be from the UK, or the film must be an international co­production.

The amount of credit that a company will be able to claim under this scheme will be capped at the maximum amount that would be available for production with the core expenditure of £15 million.

Films that do not qualify as independent films can continue to claim AVEC at the basic rate of 34 %, or the uplifted rate of 39% for animated films. Companies will not be able to claim both the IFTC and the announced additional relief for visual effects expenditure in respect of the same film.

The higher rate is available on expenditure incurred from 1 April 2024, for films which commence principal photography on or after that day. Claims can be made from 1 April 2025

Additional tax relief for expenditure on visual effects

As announced in the Autumn Statement 2023, and following a call for evidence, the government will give additional tax relief to visual effects costs in films and high-end TV. Under the Audio-Visual Expenditure Credit, visual effects costs will receive a tax credit at a rate of 39%. The 80% cap on qualifying expenditures will also be removed for visual effects costs. The changes will take effect from 1 April 2025

A consultation will be published shortly on the types of expenditure that will be within the scope of the additional tax relief, so watch this space.