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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Limited cost traders - Flat rate scheme Summary From April 2017, a new Flat Rate Scheme category is being introduced called “limited cost trader”. Any business that spends less than 2% of their turnover or < £1,000 a year on “goods” will fall into this category and will use a [...]
Quarterly tax returns – You're kidding right? In winter 2015 the government announced it’s ‘Making tax digital – roadmap’ promising to transform HMRC into “One of the most digitally-advanced tax administrations in the world”. The business community reacted somewhat dubiously to this news. It seems unbelievable that an organisation that still prefers to [...]
Landlords hit hard in 2016 budget When the 2016 Budget came out it was clear to see that the chancellor was on the warpath against landlords. In a two-pronged attack the budget imposes a higher rate of stamp duty on second home owners, as well as limiting tax relief on mortgage interest. As [...]
Budget 2016 - Small Business comes out on top Small Business rates cut! The big headline announcement in this years budget is the cut to business rates by the extension of the small business rates relief scheme. Currently the scheme means that all properties with a rateable value of < £6,000 don't pay [...]
Dividend changes from April 2016 Many business owners have heard there is a change coming to dividend tax, but what is the actual impact? The Autumn Statement produced an unexpected headline for small business owners: the favourable tax situation for dividends is being severely diminished. We explore exactly what difference this will [...]
