Key Takeaways for Buyers and Sellers of Accountancy Practices
1. Increase in Employer National Insurance Contributions (NICs)
The rise in Employer NICs by 1.2 percentage points to 15% from April 2025 is a significant factor to consider for both buyers and sellers. This increase will elevate the cost of employee compensation, which may impact profit margins for practices with lar...
As the UK tax system continues its digital transformation under the Making Tax Digital (MTD) initiative, accountants approaching retirement may be considering how to best adapt their workflows without overhauling familiar tools. For many accountants, Microsoft Excel has long been a cornerstone for bookkeeping, tax preparation, and financial reporting. The good news is that Excel can still play ...
As the world of accounting continues to evolve, HMRC’s Making Tax Digital (MTD) initiative is a significant step towards modernising how tax is managed in the UK. For many accountants nearing retirement, the transition to fully digital tax reporting may seem daunting, particularly for clients who still use traditional spreadsheet-based methods. However, MTD Bridgi...
If you're an accountant contemplating selling your practice, there's a crucial factor you need to consider: Making Tax Digital (MTD). As the deadline for MTD implementation draws closer, it's becoming increasingly evident that now is the best time to begin the process of selling your business. Here's why waiting could cost you more than you think.
As an accountant, guiding your self-employed clients or small business owners in selecting the right accounting software is essential. The right tool can significantly impact their financial management, cash flow monitoring, and overall business efficiency. This guide will help you explain the differences between two of the most popular accounting software options—Xero and Sage—so t...
I don’t know if you’ve heard, but new legislation has been introduced by a Labour peer to tackle late payments.
Lord Mendelsohn has proposed a bill which would give a 30-day limit for all invoiced payments. This would allow accountants to impose large fines for repeat offenders.
