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We’re helping you to manage foreign currency with VeralloFX 💱 If you’re sending and receiving money internationally, VeralloFX is the brand new, bespoke foreign currency management service you can trust. Take a look at how we can assist you in the navigation of the world of foreign exchange! Explore the link in the comments 👇 #foreignexchange #currency #financialadvice #businessgrowth

Big changes are coming for UK businesses... The UK government’s Invest 2035 strategy is set to introduce major audit and reporting reforms by the end of this year, saving businesses £240 million annually. Read our latest blog to learn about: ✔️ Higher thresholds for audits ✔️ Reduced red tape for a simpler, more efficient system tailored to business size Read via the link in the comments 🔗 👇 #audit #invest2035 #financialplanning #businessgrowth

As the Bank of England reduces the base rate, HMRC has updated its interest rates for tax payments and overpayments. Here’s what’s changing: 1) Interest rate reductions: ☑️ Corporation tax (quarterly instalments): reduced from 6% to 5.75% ☑️ Other taxes (late payments): reduced from 7.5% to 7.25% ☑️ Corporation tax (overpayments): reduced from 4.75% to 4.5% ☑️ Other taxes (overpayments): reduced from 4% to 3.75% 2) Upcoming changes from April 2025: For late payments rates will increase by 1.5 percentage points for tax liabilities, making the rates: ☑️ Corporation tax: 7.25% ☑️Other taxes: 8.75% 3) The next base rate review is scheduled for 19th December 2024. 4) Additionally, Save As You Earn (SAYE) Schemes will also be impacted, with new bonus rates effective from 22nd November 2024: ☑️ 3-Year bonus rate: 0.9% ☑️ 5-Year bonus rate: 2.7% ☑️ Early leaver rate: 1.17% We’re here to help businesses to stay updated on these changes to manage cash flow effectively and avoid unnecessary penalties. Get in touch to see how we can help by calling 0203 912 9933. #interest #tax #taxplanning #bankofengland #accounting

Major changes are coming to employer National Insurance contributions - here's what you need to know. The most dramatic change for businesses in the Autumn Budget was the increase in employer NICs from 13.8% to 15% from April 2025. The Secondary Threshold will drop from £9,100 to £5,000. Alongside this, the Secondary Threshold - the point at which employers start paying NICs on employee earnings - will drop significantly from £9,100 to £5,000. Here’s what this means in practice: ☑️ Currently, employers pay 13.8% NICs on employee earnings above £9,100. ☑️ From April 2025, the rate jumps to 15%, and the threshold falls to £5,000 - making a larger portion of each employee's salary subject to NICs. ☑️ This change will significantly impact larger businesses. For smaller employers - To offset these increases, the Government is introducing reforms to the employment allowance - a relief designed to reduce national insurance liabilities: ✔️ The allowance will increase from £5,000 to £10,500, providing greater savings for small businesses. ✔️ The previous £100,000 eligibility cap has been removed, making it accessible to more businesses. These changes underline the importance of planning ahead to manage the impact on your business - we're here to support. 📘 Get started by downloading our comprehensive guide to the Budget via the link in the comments 👇 #budget #employernic #tax #financialplanning #accounting

The UK government is progressing with its AI chatbot, GOV.UK Chat, aiming to streamline access to business rules, support information, and tax guidance. Here's a quick overview of the advancements of this ground breaking tool: 🔹 Following successful feedback from an initial 1,000-user trial, up to 15,000 people can now participate in the GOV.UK Chat testing phase, expected to run for four weeks. 🔹 Drawing from 700,000 GOV.UK pages, the chatbot delivers quick, personalised responses - though it doesn’t yet include HMRC manuals, limiting its use for complex queries. 🔹 Nearly 70% of early testers found it helpful, with 65% satisfied overall. 🔹 Now available on 30 key GOV.UK pages, like “Set up a business.” The government is testing GOV.UK Chat in stages, using user feedback from each phase to enhance accuracy and user experience. Insights from this round will inform adjustments for broader rollouts in the future. Stay connected with Verallo for ongoing updates on how GOV.UK Chat’s development could impact your business interactions. #digitaltransformation #tax #accounting #businesssupport

Think you’ve got the Budget changes sussed? Some key measures may have flown under the radar, but they could significantly impact your financial strategy. We’re diving deeper than the headline policies to uncover the updates that matter most to your tax planning, investments, and business decisions. Stay ahead of the curve - read our latest blog to learn more. Link in the comments 🔗👇 #budget #tax #taxplanning #finance #accounting

The Country Land and Business Association has claimed that recent changes to inheritance tax relief could significantly impact UK farmers, particularly those with larger estates. Under the new rules, relief for family farms is capped at £1 million, and anything above that will be taxed at 20%, which could mean paying more than their annual profits in taxes. ☑️ Landowners, especially smaller family-run farms, are concerned they’ll be forced to sell land or reduce operations to cover these bills. ☑️ Analysis shows some farmers may need to allocate over 150% of their profits to meet tax obligations. ☑️ The move aims to curb benefits for the wealthiest landowners, but the practical effects on rural businesses could be severe. We're here to help you navigate the tax changes and complexities for landowners and farmers. If you're concerned about the future of your farm or business, get in touch with our experts for advice on strategic planning and risk management. Email us at info@verallo.com or call 0203 912 9933. #farming #farminheritance #inheritanceplanning #financialplanning #iht #tax

The recent Budget has brought significant changes - now is the time to plan. Download our guide for free tax advice to help you stay ahead. 🔗 Access your copy via the link in the comments. #budget #financial #planning #accounting #tax #taxadvice

Here's what you need to know from the Autumn Statement. Access the Budget highlights in just one one click! 🔗 Find the link in the comments below 👇 #budget #tax #taxplanning #finance #accounting

In light of last week's Budget announcement, which introduced changes to address a £22bn deficit, planning for your retirement is more crucial than ever! Our latest blog answers the 5 most common questions we get about pensions, helping you navigate this complex landscape. From savings goals to tracking down forgotten pensions, we’ve got the insights you need to take control of your financial future. 🔗 Read more: https://bit.ly/3CgDz5v #budget #autumnstatement #pension #financialplanning #accounting