To calculate your Council Tax, you need to know the following:

• The valuation band of your property in England, Wales, or Scotland
• The amount your local council charges for that band
• Whether you qualify for a discount or exemption from the full bill

If you are on a low income or receive benefits, you may be eligible for Council Tax Reduction (formerly known as Council Tax Benefit).

Your property may be put in a different band in some circumstances, for example if:

• you demolish part of your property and do not rebuild it;
• you alter your property to create 2 or more self-contained units, for example an annexe – each unit will have its own band;
• you split a single property into self-contained flats;
• you convert flats into a single property;
• you start or stop working from home;
• the previous owner made changes to your property;
• there are significant changes to your local area, like a new road being built; or
• a similar property in your area has its Council Tax band changed.

A full Council Tax bill is based on at least two adults living in a home. Spouses and partners who live together are jointly responsible for paying the bill.

Certain people are not counted (‘disregarded’) when working out how many people live in a property. Your Council Tax bill may be reduced if there are disregarded people living in your property. There are also discounts that may be available for households where everyone is a full-time student or if someone living in the property is disabled.

If you think you have overpaid your Council Tax bill you need to contact your local council to discuss a refund.

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation. It's a widely used financial metric that provides a measure of a company's operating performance, excluding the effects of financing, accounting, and tax decisions. By focusing on earnings from core operations, EBITDA offers a clearer view of a company’s profitability and cash-generating potential.

Why is EBITDA Useful?

1. Standardisation for Comparisons:
   It allows analysts and investors to compare companies across industries or regions without accounting for differences in financing (interest), tax environments, and accounting practices (depreciation and amortisation).
2. Focus on Operations:
   Excluding non-operational expenses like interest or tax, EBITDA highlights the efficiency and profitability of the core business.
3. Cash Flow Proxy:
   Although not an exact measure of cash flow, EBITDA approximates the cash a business generates before paying off capital expenses, taxes, or interest.

Advantages of EBITDA

1. Simplifies Analysis:
   EBITDA ignores factors like tax policies or depreciation schedules that vary by country or industry, making it easier to compare profitability.
2. Evaluating Acquisition Targets:
   Often used in mergers and acquisitions to assess a company’s ability to generate cash and service debt.
3. Non-Cash Adjustments:
   It eliminates the impact of non-cash charges (depreciation and amortisation), focusing on actual operational results.

Limitations of EBITDA

1. Excludes Key Costs:
   By ignoring interest, taxes, and capital expenses, EBITDA can give an inflated sense of profitability, especially for capital-intensive businesses.
2. Not a Cash Flow Substitute:
   While it’s a useful proxy, EBITDA doesn't reflect changes in working capital, capital expenditures, or actual cash flows.
3. Potential for Misuse:
   Some companies may over emphasise EBITDA to mask issues like high debt levels or significant tax liabilities.

According to the Office for National Statistics as of October 2024, the primary concerns among individuals in the UK are:

1. National Health Service (NHS): 85% of adults identified the NHS as a significant issue, reflecting widespread apprehension about healthcare services.
2. Cost of Living: 84% of respondents highlighted the cost of living as a major concern, indicating ongoing financial pressures on households.
3. Economy: 69% of individuals expressed concerns about the economy, underscoring unease regarding economic stability and growth.
4. Crime: 60% of adults reported crime as a pressing issue, pointing to fears about safety and security.
5. Immigration: 58% of respondents viewed immigration as an important issue, reflecting debates over immigration policies and their societal impacts.
6. Housing: 58% of individuals identified housing as a significant concern, highlighting challenges related to housing affordability and availability.

These findings are based on data collected by the Office for National Statistics (ONS) between 2 and 27 October 2024.

Additionally, a Statista survey from October 2024 reported that 50% of UK respondents considered the economy one of the main issues facing the country, emphasizing the prominence of economic concerns.

The mandatory rollout of Making Tax Digital (MTD) for Income Tax is set to begin in April 2026. MTD for ITSA will bring substantial changes to how businesses, self-employed individuals, and landlords interact with HMRC. The system will require them to register, file, pay, and update their details through an online tax account.

To prepare for the launch of MTD for Income Tax in April 2026, it is essential to start considering the use of accounting software that is compatible with sending updates to HMRC.

You will need to use MTD for Income Tax from 6 April 2026 if all of the following apply, you:

• are an individual registered for self-assessment;
• get income from self-employment or property, or both, before 6 April 2025; or
• have a qualifying income of more than £50,000 in the 2024 to 2025 tax year.

MTD for Income Tax will then be extended to those with an income between £30,000 and £50,000 from 6 April 2027.

It was announced as part of the Budget measures that MTD for Income Tax will be extended to sole traders and landlords with income over £20,000 by the end of the current Parliament. The precise timing of this change has yet to be confirmed.

Securing funding for a new startup is one of the most critical steps in ensuring the success of a business venture. However, obtaining financing can often be challenging. For instance, traditional bank loans may not always be an option, or they might require security conditions like a personal guarantee.

One alternative is the government-backed Start Up Loan scheme, which offers personal loans to individuals aiming to start or grow a business in the UK. Those approved for the loan are also matched with a business mentor for a 12-month period. Importantly, this loan is unsecured, meaning there is no need to provide assets or a guarantor to support the application.

Business owners or partners can each apply for loans ranging from £500 to £25,000, with a maximum total loan of £100,000 per business. The typical loan amount is between £5,000 and £10,000. The scheme offers a fixed interest rate of 6% per year, with flexible loan repayment terms of 1 to 5 years. There are no application fees or early repayment penalties.

To apply for the loan, you must meet the following criteria:

• You live in the UK
• You are 18 years of age or older
• You own (or plan to start) a UK-based business that has been trading for less than 36 months.