07/08/2024
We have summarised the changes made to the Academy Trust Handbook (AHT) 2024 in an easy to use fact sheet.
Academy Trust Handbook 2024 Changes.
For further information on the AHT, please contact us on 023 8046 1200 or email us.
On this Remembrance Day, we honor the courage, sacrifice, and resilience of those who served and continue to serve. Their dedication has shaped the freedoms we cherish today.
Let us take a moment to reflect, wear our poppies with pride, and ensure their stories live on.
Lest we forget.
#RemembranceDay #LestWeForget #HonourAndRemember
Striking off vs winding up: what is the difference for your company?
The Insolvency Service has reported on an investigation it made into a company that was serving as a front to enable unlicensed insolvency activities previously carried out by another firm. The investigation resulted in the Insolvency Service winding up the company in the public interest.
The case serves as a reminder that only properly licensed insolvency practitioners can act as a liquidator or administrator for a company. However, if you’ve reached the point where your company has run its course and you want to close it down, does that mean your only option is to formally wind it up using a licensed insolvency practitioner? No. Another option open to many companies is to have the company ‘struck off.’
This article explores the differences between striking off a company and winding it up, and in what circumstances you might choose one over the other. Read more by clicking the link in our bio.
State pension set for rise – but more retirees may face tax
From April 2026, people drawing the state pension may see an increase of more than £500 a year, thanks to the government’s triple lock guarantee. The policy means the pension rises each year by whichever is higher: 2.5%, inflation, or average wage growth. The latest figures from the Office for National Statistics suggest that the average earnings growth of 4.7% will be the measure used.
Read the full article by clicking the link in our bio
📣***NEW ITEMS***📣
Three new items have been kindly donated to our silent auction!
If you are a sports fan - please take a look...
⚽ Southampton Football Club signed pennant with certificate of authenticity
🏏 Graham Gooch signed portrait
🏏 Ian Botham autographed, hand-painted Tony Middleton cricket bat in a display case
The auction closes on the 30th November - see link to silent auction on our bio
Main residence relief
The tax relief that is available on any gains made by homeowners when they sell their main home has come under the spotlight recently, with speculation that HMRC may be looking to reform these rules for properties worth over £1.5m.
Currently, if an individual sells their home and they lived in it throughout their ownership period, they may be entitled to 100% main residence relief against any chargeable gain made on the property. Periods when they did not occupy the property as their main residence can be exposed to Capital Gains Tax.
Read the full article by clicking the link in our bio
This week we have congratulated our coffee man, Pete on his 13th anniversary of trading! Thank you to Pete (and The Good Stuff!) for supplying us with treats everyday - here`s to the next 13 years 🌭🍫🎂☕️
Business asset disposal relief – plan for the tax rate increase
When an individual makes a disposal that qualifies for Business Asset Disposal Relief (BADR, formerly known as Entrepreneurs Relief), they will often pay a lower rate of Capital Gains Tax (CGT) compared to other assets. The current rate of tax due on qualifying BADR gains is 14%, compared with the normal CGT rates of 18% (basic rate) and 24% (higher rate).
However, the rate of tax applied on BADR qualifying disposals is set to increase from 14% to 18% from April 2026. Given that each individual has a lifetime BADR allowance of £1m this rate increase can lead to a long-term higher tax charge of £40,000 per individual. Therefore, if you are contemplating making a disposal of any assets that would qualify for this relief, you may wish to ensure this is brought forward and completed before April 2026 as you could save up to £40,000 in CGT.
Read the full article by clicking the link in our bio
Could your child be sitting on £2,000 without knowing it?
New figures show that more than 750,000 young people haven’t claimed their matured Child Trust Funds – savings pots worth an average of £2,242 each. If your children, employees, or even apprentices are aged between 18 and 23, there’s a good chance some of them could be sitting on money they don’t know about.
Read the full article by clicking the link in our bio
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