Proposed ID Verification at Companies House
One of the proposed amendments to the Companies Act 2006 aim to implement rigorous ID verification measures. This is for individuals establishing, managing, or controlling companies, to eradicate money laundering through the use of false identities. Registrar Regulations In May, a draft Statutory Instrument titled the Registrar (Identity Verification and Authorised Corporate Service Providers) Regulations […]
Reporting Profits on a Tax Year Basis
Starting with the Self-Assessment return due by 31 January 2025, all sole trader and partnership businesses must report their profits on a tax year basis. What is the Basis Period Reform? The Basis Period Reform represents a major change in how self-employed individuals and partnerships calculate their taxable profits. Previously, the basis period was tied […]
Inheritance Tax Implications Regarding the General Election
Following on from the webinar we hosted earlier this month on the basics of Inheritance Tax (IHT), we thought it would be useful to tie this in with our latest tax article ahead of the upcoming General Election. As the general election approaches, the issue of IHT is once again at the forefront of political […]
The Importance of Evaluating Business Processes
In the digital age, business processes are the backbone of organisational operations, ensuring tasks are completed efficiently and effectively. These structured sequences of digital tasks enable businesses to achieve their goals, streamline operations, and maintain competitiveness. However, it is crucial for organisations to periodically pause and scrutinise their processes. Simply taking the time to stop […]
How a Statutory Audit Can Fuel Business Growth
In the business landscape, statutory audits often carry the weight of compliance, but beneath the surface lies a potent driver of growth. Let’s explore how a thorough statutory audit goes beyond mere regulatory adherence to positively impact financial health, operational efficiency, and long-term prosperity. 1. Financial Health Turbocharged: Far from a routine exercise, a statutory […]
Annual Accounts & Company Tax Return: Benefits of Early Filing
Filing your Annual Accounts early offers several advantages: it helps avoid penalties, enhances cash flow management, allows for proactive tax planning, ensures compliance, and supports strategic financial decisions. Early filing can speed up tax refunds! Looking for a more organised approach to filing your tax return and company accounts, avoiding last-minute stress? At NRB, we […]
Xero Training – self-taught or professional training?
Navigating bookkeeping on Xero poses a crucial decision: one can either embark on a self-guided journey with the help of some online tutorials or opt for structured, professional training. In this article, we dissect the disparities between these approaches, to help individuals make informed decisions. Whether you’re a business owner seeking to streamline operations or […]
Empowering Your Future Through Technology
At NRB, we’re dedicated to using cutting-edge technology innovations to provide you with the strategic insights and planning tools you need, to chart a path toward success. Planning Your Future Success In business, foresight is your greatest asset. Management accounts offer more than just financial data—they provide a roadmap for your business’s journey ahead. The […]
Audit 2.0: The Digital Revolution in Statutory Audits
In the realm of finance, a seismic shift is occurring as auditors move from manual processes to a tech-driven future known as Audit 2.0. At its core is the infusion of artificial intelligence (AI) and data analytics, transforming how audits are conducted and the insights they yield. The Tech Leap Gone are the days of […]
Efficient Financial Year End Services
At NRB we pride ourselves as working as efficiently as we can to give our clients the most up to date and relevant advice we can within their financial year end. Efficiency in Action As a demonstration of this philosophy we have already completed five financial year ends ending in March 2024. In addition to […]
