COVID-19 guidance for small businesses

COVID-19 guidance for small businesses Since chancellor Rishi Sunak’s admission that the £12bn pledged in the budget to support the economy would not be sufficient, a £350bn package of grants and loans has been announced. We highlight the measures that the government are taking to support businesses and self-employed individuals across [...]

2020-03-24T12:26:17+00:00March 19th, 2020|Business, Coronavirus, Tax|Comments Off on COVID-19 guidance for small businesses

Coronavirus tax relief

Are you impacted by coronavirus and struggling to pay your taxes? A dedicated HMRC helpline for businesses and self-employed individuals who have difficulty with paying their tax due to coronavirus is now in operation. The number of the helpline is 0800 0159 559. The helpline can assist with all taxes, [...]

2020-03-23T10:12:25+00:00March 18th, 2020|Business, Coronavirus, Tax|Comments Off on Coronavirus tax relief

Budget 2020 highlights

Highlights from the 2020 Budget Amongst all the present focus on the coronavirus, Rishi Sunak has delivered his first budget as chancellor. With a mix of expected and surprising changes to tax and the wider economy, we highlight some of the important considerations. National Insurance As pledged in the Conservative [...]

2020-03-12T14:43:40+00:00March 12th, 2020|Business, Tax|Comments Off on Budget 2020 highlights

Emergency Interest Rate Cut

Bank of England announces historic interest rate cut on budget day Amid growing concerns about the scale of disruption expected because of the coronavirus, the Bank of England has today announced an emergency cut in interest rates. Why has the cut been made? The decision by policymakers to reduce rates [...]

2020-03-19T15:30:51+00:00March 11th, 2020|Business, Tax|Comments Off on Emergency Interest Rate Cut

Employers Allowance changes

Changes to the criteria for claiming Employers Allowance One of the changes coming with the new tax year will see an amendment to the criteria for employers hoping to claim an allowance against their National Insurance (NI) bill. What are the changes? Currently all employers can claim relief of the [...]

2020-03-11T14:19:03+00:00March 11th, 2020|Business, Tax|Comments Off on Employers Allowance changes

Capital Gains Tax on residential property sales

Changes to Capital Gains Tax on residential property sales With big changes to the way Capital Gains Tax (CGT) due from residential property sales is reported and paid coming on 6th April, it is important to understand how this could affect you. What are the changes? The impending changes primarily [...]

2020-03-11T11:58:10+00:00March 9th, 2020|Business, Tax|Comments Off on Capital Gains Tax on residential property sales

Why You Should Be Considering An Electric Vehicle

Why You Should Be Considering An Electric Vehicle Whether you are looking to reduce your environmental impact or save money, there are several great reasons to consider getting an electric car through your company. What are the tax implications for the business? One of the biggest differences between electric vehicles [...]

2020-03-05T15:13:38+00:00March 4th, 2020|Business, Tax|Comments Off on Why You Should Be Considering An Electric Vehicle

Upcoming Changes to Entrepreneurs Relief

What you need to know about the upcoming changes to Entrepreneurs relief What you need to know about the upcoming changes to Entrepreneurs Relief Entrepreneurs often see their business as a valuable asset to provide them with pension when they retire and have been counting on Entrepreneurs’ Relief (ER) to [...]

2020-03-05T15:11:01+00:00February 17th, 2020|Business, Tax|Comments Off on Upcoming Changes to Entrepreneurs Relief

Are you missing out on R&D tax credits?

Are you missing out on R&D tax credits? There are thousands of pounds being lost in tax relief by eligible companies every year. This reflects the common misconception that Research and Development (R&D) is confined to manufacturing plants, tech giants or research laboratories, when in reality, the ideas and inspirations [...]

2017-10-10T08:37:19+00:00October 3rd, 2017|Business, Tax|Comments Off on Are you missing out on R&D tax credits?

Spring budget 2017

Spring budget 2017 Whilst the budget was relatively uneventful, there have been some controversial changes aimed at the self-employed and small business owners. However, the main point of controversy, the rise in Class 4 National Insurance Contributions has now been reversed.  The key points are as follows:Self Employed National InsuranceThe budget initially outlined an [...]

2017-03-27T12:59:44+00:00March 10th, 2017|Business, Tax|Comments Off on Spring budget 2017