News & Events

Mastering business expenses

An essential toolkit for business owners In today’s economic landscape, where financial acumen plays...

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Spring Budget 2024

INTRODUCTION With the UK entering a technical recession at the end of 2023 and...

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Insider March 2024

HMRC clamps down on undeclared dividend earnings Starting on 4 February 2024, HMRC is...

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Year-End Tax Planning: A Guide for Businesses

The UK tax year is coming to an end on 5th April and now...

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HMRC enforces tighter rules on ‘side hustle tax’

In a bid to tighten tax regulations and combat tax evasion, HMRC is implementing measures affecting sellers on platforms such as eBay, Vinted, Airbnb and Etsy. Effective from 1 January, many digital platforms are now mandated to collect under new international rules adopted by the UK through the Organisation for Economic Cooperation and Development (OECD). … Continued

Insider February 2024

National Insurance cut boosts UK households In a move to ease financial burdens on UK households, the Government has implemented a historic National Insurance (NI) cut, providing relief for 27 million taxpayers. As of Saturday, 6 January 2024, the main rate of National Insurance has been reduced by 2%, dropping from 12% to 10%. This … Continued

Personal financial planning in 2024

New year, new strategy. The new year marks the start of new beginnings, so there’s no better time to revisit your personal financial strategy. Drawing up an economic plan with clear, achievable goals can improve your long-term financial health and help protect you and your family against external factors. Whether you’re putting a personal financial … Continued

Year-end tax guide 2023/24

How to use this guide The conclusion of the 2023/24 tax year prompts us to reflect on some of the notable developments in the fiscal landscape.  This past year has been marked by ongoing efforts to recover from the economic impact of the global pandemic. Inflation has emerged as a significant concern, influenced by persistent … Continued

Should you hire or outsource accounting?

All you need to know to make the right choice. Running a successful business entails astute financial management, and at the core of this is the crucial decision of how to handle your accounting needs. Should you bring a full-time, in-house accountant into the fold, or does the more flexible route of outsourcing better suit … Continued

Insider January 2024

HMRC launches cryptoassets tax disclosure service HMRC has rolled out a new initiative enabling taxpayers to voluntarily disclose unpaid tax on cryptoassets covering exchange tokens, non-fungible tokens, and utility tokens.  The tax authority has initiated contact with selected taxpayers engaged in cryptoasset transactions who may not have fulfilled their tax obligations. Taxpayers must report transactions … Continued

Tax and your work Christmas party

How to reward your team in a tax-efficient way. As 2023 draws to a close, many employers will be looking for ways to reward their teams’ hard work. But how can you do that in a tax-efficient way that benefits both you and your employees? Thankfully, showing your appreciation doesn’t need to cost the earth. … Continued


What to watch out for when navigating this important financial obligation. The UK self-assessment system has its quirks and nuances, and understanding how to stay compliant is crucial to a smooth and stress-free income tax process. From early paper deadlines to penalties for late-filers, self-assessment holds a few surprises. As always, a professional accountant can … Continued

Insider December 2023

UK accountants demand HMRC service improvements A recent survey from the Association of Chartered Certified Accountants (ACCA) has shed light on the challenges UK accountants face when dealing with HMRC services. Over 90% of respondents expressed the urgent need for HMRC to improve its service across several key areas. The survey, which involved 207 ACCA … Continued

Accounting tech for businesses

How will technology impact your business’s financial future? Constant developments in technologies like AI and cloud accounting are changing the way we do business and manage our finances. It’s a rapidly advancing field that has already changed the way most businesses think about their processes. So what are the benefits of using technology in business … Continued


INTRODUCTION Against the backdrop of a cost-of-living crisis, a near-stagnant economy and a looming election, the 2023 Autumn Statement was seen to reflect a pivotal moment in the UK’s economic trajectory. As Jeremy Hunt stepped up to the dispatch box for his second Autumn Statement as Chancellor of the Exchequer, the nation’s attention was firmly … Continued

What’s the End Game for Your Business?

Exit Strategies for Entrepreneurs An exit strategy is a plan that some business owners may utilise to help remove themselves from a company in order to limit losses or to capitalise on gains. While the idea may have some negative connotations, if you’re an entrepreneur it’s important to think about what your exit strategy might … Continued

Hiring Tips for Each Stage of Business Growth

Making the decision to hire a team of staff is a huge milestone for any entrepreneur as it can often indicate that your business is expanding. The prospect of hiring a team of staff is daunting but it’s important to get it right as hiring the wrong person can be at best a waste of … Continued

When to Expand Your Business and the Strategies You Need to Make it Happen

Canadian astronaut and engineer, Chris Hadfield once said: “Almost everything worthwhile carries with it some sort of risk,” which is certainly true when it comes to business and planning for expansion. Knowing how and when to expand your business can be tricky but if you don’t take the leap, you run the risk of being … Continued

Business Expenses: What Can You Claim?

If you’re self employed, you’ll be required to pay tax on all of your income that is above the personal allowance, however you can claim money back from HMRC on expenses that you need to spend to keep your business operating. Many costs that are directly associated to your work, for example travelling between clients, … Continued

Top Tips To Get Your Business Off To A Strong Start

Want to start a new business but need some help to get you off to a strong start? Setting up a business can be a daunting venture and it’s important to adopt proper accounting procedures from the very beginning to ensure that you can start your journey successfully. In this article, we cover top tips … Continued

Retirement-planning tips

How to plan your finances ahead of retirement. For many savers, retirement can seem like a far-off or even unattainable goal. But to maximise your chances of retiring comfortably, early planning is essential. Recent research from Canada Life shows that a worrying number of UK adults are not planning for this key milestone, with 45% … Continued


UK economy recovery slows in August Britain’s economy partially recovered in August, with a marginal growth of 0.2% following a sharp fall in July. This slow growth has fuelled expectations that the Bank of England’s (BoE) Monetary Policy Committee will vote to maintain its base interest rate at 5.25% next month. The BoE halted its … Continued

An introduction to trusts

What you need to know about trusts, including how they are taxed. Trusts are legal arrangements where assets are placed into the care of an individual or organisation that manages them for the benefit of someone else. For the person setting up the trust, this arrangement means they know their assets will be properly looked … Continued


HMRC reopens self-assessment helpline HMRC has reopened the self-assessment tax helpline from 4 September after it was closed for three months over the summer. Between 12 June and 3 September, callers were redirected to digital services to give HMRC staff time to deal with other phone enquiries and handle the postal backlog. This was not … Continued

IR35: What happens when it goes wrong?

How the off-payroll rules will affect you and your business. Contractors and freelancers operate through a private company to enjoy a better tax treatment compared to sole traders — but a more favourable tax position is actually never guaranteed because of off-payroll working rules known as IR35. According to IR35, if a contractor or freelancer … Continued

A guide to registering for self-assessment

How to register for and file your self-assessment tax return. If you’ve never had to complete a self-assessment tax return, the first time can be daunting. But don’t worry: we’ll demystify the process in this article. And if you have completed one before, this guide might still teach you a thing or two about doing … Continued


Geopolitics prompt importers to alter supply chains One in five British importers have altered their supply chains because of geopolitical tensions, particularly with China, new research suggests. A survey by the Institute of Directors (IoD), found that 20.5% of importers have altered their supply chains because of tensions abroad, while a further 14.5% were considering … Continued

Beer & Bubbles Charity 5km

Ready, Steady, Prosecco! Gather your friends, family or colleagues and join us at Finnebrogue Woods on Wednesday 14th June to walk, jog or run 5km to help us raise funds for local charity, PIPS. We would love you to be a part of it! Here’s how it works: Open to competitors of all ages and … Continued

M.B. McGrady & Co. Chartered Accountants goes for growth as it expands in Northern Ireland

One of Northern Ireland’s most established accountancy practices, M.B. McGrady & Co Chartered Accountants is continuing its expansion across Northern Ireland with its second strategic merger in less than 12 months, signalling a period of growth for the business. Founded by Maurice Dawson, Dawson & Company Chartered Accountants have joined M.B. McGrady’s Belfast office, with … Continued

We’re Hiring – Two Roles Available in our Downpatrick Office

M.B. McGrady & Co Chartered Accountants and Business Advisors is currently recruiting for a Qualified Accountant and a Part Qualified or Qualified by Experience Accountant to join its busy team. Full details of the roles alongside the criteria are outlined below. This is superb opportunity for two experienced and dynamic Accountants to join a great … Continued

We’re Hiring – Two Roles Available in our Belfast Office

M.B. McGrady & Co Chartered Accountants and Business Advisors is currently recruiting for a Qualified Accountant and a Part Qualified or Qualified by Experience Accountant to join its busy team. Full details of the roles alongside the criteria are outlined below. This is superb opportunity for two experienced and dynamic Accountants to join a great … Continued

M.B. McGrady Appoints New Director

ESTABLISHED 70 years ago, M.B. McGrady & Co. Chartered Accountants and Business Advisors, with offices in Belfast, Newtownards and Downpatrick, has appointed Kim Rainey as a Director in the company. An experienced accountant, Kim, who hails from Newtownards, first joined M.B. McGrady & Co. over 20 years ago.  She graduated from Ulster University with a … Continued

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