The Government has announced a two-year delay and further changes to the rollout of its Making Tax Digital for Income Tax initiative. The delayed implementation of Making Tax Digital (MTD)…
Latest Business News
Take advantage of the super deduction allowance – before it’s gone
Businesses are being advised that time is running out to be able to take advantage of the Corporation Tax super-deduction capital allowance scheme. This allows businesses to claim back 130…
Improving your business finances in 2023 and beyond
Every business needs sound financial planning and oversight in order to thrive. With the new tax year just around the corner, now is the perfect time to start thinking about…
Tax considerations for gifting to grandchildren in the UK
For many individuals in the UK, gifting to grandchildren can be a great way to reduce their tax burden. But before entering into any gifting arrangement, it is important to…
Should I take a salary or dividends as a small business owner?
If you own a small business and are also a shareholder director, you may be wondering whether to take a salary or dividends. When it comes to paying yourself, there…
Understanding and improving your balance sheet
Keeping on top of your business’s financial health is critical to its success. A great place to start is by understanding what a balance sheet is and what it can…
A new VAT penalty system is now in effect
A major overhaul of VAT penalties came into effect on 1 January 2023. This new approach changes how penalties are applied, as well as how interest is calculated and paid.…
Be prepared for changes to Capital Gains Tax thresholds
The exemption for paying Capital Gains Tax (CGT) is changing. The CGT annual exemption will fall from £12,300 to £6,000 from April 2023, before being cut in half again to…
Companies House goes fully digital
Companies House has gone fully digital after the announcement of the closure of its office in London and all filing being transferred online. It has also permanently shut the public…
R&D relief slashed – Time to plan
Chancellor Jeremy Hunt has announced a series of changes to the UK research and development (R&D) tax credit regime, including a cut to the deduction and credit rates for the…
