ThorntonsAccountants

Thorntons Accountants provide practical advice from professional people. Our services include accountancy, tax and business support to companies and individuals

[ThorntonsAccountants @Thorntonsacc]

Future public sector procurement contracts are likely to place greater emphasis on local community impact, such as the creation of new jobs and apprenticeships, according to a #Government announcement yesterday:

https://t.co/MeJdAo8otq

[ThorntonsAccountants @Thorntonsacc]

An interesting announcement from the Prime Minister: city regions may soon receive a share of income tax and business rates to fund areas such as transport infrastructure and economic development.

https://t.co/3QAq4TLfKz

[ThorntonsAccountants @Thorntonsacc]

Today, the new Chancellor John Healey has confirmed that the #budget will take place on 28th October:

https://t.co/ZbvlKy1jcY

[ThorntonsAccountants @Thorntonsacc]

Today the Bank of England has retained UK interest rates at 3.75% - however, it warned that rates may increase later in the year, due to the impact of the conflict in the Middle East on oil and energy prices.

https://t.co/3UKSzTnq2R

[ThorntonsAccountants @Thorntonsacc]

Most business owners know their turnover. But do you know your:

📊 Gross profit margin
💷 Cash available today
📈 Forecast cash position in three months
They often tell you more about the health of your business than turnover alone.
#SME #BusinessGrowth #CashFlow #Accounting

[ThorntonsAccountants @Thorntonsacc]

The bus fare cap across most parts of England is set to be reduced to £2 per journey from January. The announcement today reverses the decision made during Rachel Reeves' first budget statement:

https://t.co/Rdr5m22nbE

[ThorntonsAccountants @Thorntonsacc]

#VAT on domestic electricity bills will be scrapped from October. In the first announcement made by new Prime Minister Andy Burnham and Chancellor John Healey, the current 5% threshold is set to be removed, saving around £45 per year on the average bill:

https://t.co/J75ubePyPq

[ThorntonsAccountants @Thorntonsacc]

Figures released today by the Office for National Statistics have revealed that the UK economy returned to growth in May. The economy grew by 0.1%, with the ONS saying that "growth remains fragile". More information here:

https://t.co/bCQ6Q6CTCN

[ThorntonsAccountants @Thorntonsacc]

Win or lose tonight, the real winner of England (and Scotland's) World Cup run has been the hospitality industry, with pubs expected to serve a staggering 14 million pints during tonight's semi-final:

https://t.co/PImhUX0lTv

[ThorntonsAccountants @Thorntonsacc]

Hospitality businesses are calling on the Government to permanently reduce VAT on the sector to 10%, bringing provisions in line with Europe:

https://t.co/EZzFMnUpZl

[ThorntonsAccountants @Thorntonsacc]

The Bank of England has warned that more than a million homeowners are likely to face higher mortgage bills due to the impact of the Iran war:

https://t.co/iL0mQtB0Oa

[ThorntonsAccountants @Thorntonsacc]

The Government confirms 5am licence extensions for pubs, to enable visitors to watch Monday's England game. Although the move is not without its critics, perhaps most notably concerns being raised from the police:

https://t.co/dnos0BKS5K

[ThorntonsAccountants @Thorntonsacc]

The Supreme Court has backed HMRC, making it easier for some LLP members to be treated as employees for tax purposes.

For firms, that could mean higher tax bills, employer NICs and a need to review LLP structures sooner rather than later.
https://t.co/g1KyuZXppO

[ThorntonsAccountants @Thorntonsacc]

"Business crime is a 'structural constraint' and 'measurable brake' on UK economic performance" - according to the British Chambers of Commerce, a staggering 42% of businesses have experienced some form of crime during the past year.

https://t.co/Z4Njdgedpv

[ThorntonsAccountants @Thorntonsacc]

Yesterday, the treasury unveiled more details about how the tax charges on cash held in stocks and shares ISA accounts will be applied.

The new rules are set to come into effect in April 2027:

https://t.co/A4VeCkOpG3

[ThorntonsAccountants @Thorntonsacc]

New plans are being introduced to end the practice of gazumping, when it comes to buying a new home. More details here:

https://t.co/PnTIW1n2zs

[ThorntonsAccountants @Thorntonsacc]

Today HM Revenue & Customs has confirmed that the planned changes to benefits in kind is set to be delayed. The new scheme will now be introduced in phases. More details here:

https://t.co/mKnLSayaUy

[ThorntonsAccountants @Thorntonsacc]

Over 750,000 Child Trust Funds, that were set up by the Government remain unclaimed. @HMRCgovuk is writing to young adults aged 21 who have yet to claim their account.
https://t.co/peVDDN0v9w

[ThorntonsAccountants @Thorntonsacc]

The UK economy contracted in April by 0.1%. The fall was attributed to rising costs, as a result of conflict in the Middle East.

https://t.co/3v6rnu26i4

[ThorntonsAccountants @Thorntonsacc]

The British Chambers of Commerce has called on the Government to do more to fix Britain's broken business rates system:

https://t.co/vkeWNdwQvK