Hallys & Co, Chartered Accountants

Government moves to ease pressure from rising fuel costs

Government moves to ease pressure from rising fuel costs - Hallys & Co The government has announced a package of measures intended to protect motorists and businesses from the recent rise in fuel costs, following growing concern over the impact higher oil prices may have on inflation, household finances and business operating costs. The measures include an extension of...

Preparing your Self-Assessment tax return early

Preparing your Self-Assessment tax return early - Hallys & Co Many taxpayers continue to leave their Self-Assessment tax return until the final weeks before the 31 January filing deadline. Unfortunately, delaying preparation often increases stress levels, creates unnecessary pressure and reduces the opportunity to plan effectively. Preparing your tax return ea...

Could your business survive a cyber-attack?

Could your business survive a cyber-attack? - Hallys & Co Cyber-crime is no longer a problem that affects only large corporations or international organisations. Increasingly, smaller businesses are being targeted because criminals often assume that security systems, staff training and internal controls may be weaker. For many businesses, the financial and...

Business cash reserves under pressure

Business cash reserves under pressure - Hallys & Co For many businesses, trading conditions remain difficult despite signs that inflationary pressures may be easing in some parts of the economy. A growing number of business owners are discovering that although sales may appear stable, cash reserves are steadily coming under pressure as operating cost...

Future filing of company profit and loss accounts delayed

Future filing of company profit and loss accounts delayed - Hallys & Co There has been considerable discussion over the past year regarding proposed changes to Companies House filing requirements, in particular the suggestion that small companies would be required to file a profit and loss account on the public record. Recent updates published on the GOV.UK website have...

What the Middle East conflict could mean for UK businesses

What the Middle East conflict could mean for UK businesses - Hallys & Co The ongoing conflict in Iran and the wider Middle East is beginning to have economic consequences that are likely to be felt by UK businesses over the coming months. While the situation remains uncertain, press commentary and early government signals provide a useful indication of how the impact may...

Winter Fuel Payment scams – Beware

Winter Fuel Payment scams - Beware - Hallys & Co Pensioners are being urged to stay vigilant for any Winter Fuel Payment scams. HMRC is starting to recover Winter Fuel Payments issued for winter 2025 from those earning over £35,000 a year. While the process will affect nearly two million people, most will see the repayment handled automatically t...

Chancellor seeks support from retail banks to drive growth

Chancellor seeks support from retail banks to drive growth - Hallys & Co The recent announcement from Rachel Reeves highlights a clear shift in the government’s economic approach, placing retail banks at the centre of efforts to stimulate growth and support households and businesses. In a meeting held on 22 April 2026, senior leaders from major UK banks, including Barc...

How bonuses are taxed

How bonuses are taxed - Hallys & Co Bonuses are treated as taxable earnings, so both employers and employees need to understand how they are taxed and reported. For cash bonuses (including vouchers that can be exchanged for cash), the rules are straightforward. The payment is added to an employee’s normal salary and taxed through th...

Tax relief when incorporating a business

Tax relief when incorporating a business - Hallys & Co When a sole trader or partnership transfers a business to a company, a chargeable gain may arise. This is calculated by reference to the market value of the business assets at the date of incorporation (including goodwill), compared with their original base cost. The resulting gain would ordinarily....

Do you have a personal tax account yet?

Do you have a personal tax account yet? - Hallys & Co Your Personal Tax Account (PTA) is an easy and secure way to manage your tax online. You can use it to check your tax code, claim a refund and update your details, all in one place, without needing to contact HMRC by phone or post. Every UK taxpayer has a PTA, but you will need […]