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Contradictions over tax-cut promises in October Budget?

November 23, 2021November 16, 2021

With considerable financial pressure on all public services, as well as circumstances that will be out of his control, is the Chancellor’s Budget promise of pre-election tax cuts even a…

What does the dividend tax hike mean for you?

November 16, 2021November 16, 2021

Following the increased dividend tax rates for the tax year 2022-23, business owners should consider the most effective ways to withdraw profits from their companies. Tax rates that apply to…

Increased Annual Investment Allowance to be extended until 2023

November 12, 2021November 9, 2021

The Annual Investment Allowance (AIA) is a 100% capital allowance available for a business’s qualifying expenditure on plant and machinery. It was introduced in 2008, to encourage investment for businesses…

Changes to business rates reform, including new reliefs

November 9, 2021November 9, 2021

Business rates have been under review by the government for some time. It announced back in February that its final report would arrive in the autumn of 2021, when there…

The right way to treat entertainment and travel costs for tax purposes

October 26, 2021January 4, 2022

Now that you can do things like taking clients or suppliers out for dinner again, you may be wondering about tax treatment for business entertainment costs. Income and corporation tax…

Only 18 months to go until QUARTERLY tax returns for landlords and the self-employed

October 19, 2021January 4, 2022

The deadline for Making Tax Digital for income tax self-assessment (more catchily known as MTD ITSA) is 18 months away, but not only will that time pass in a flash,…

With nearly £10bn in capital gains tax receipts, will the Chancellor be tempted?

October 12, 2021October 6, 2021

According to data released by HMRC, £9.9bn in capital gains tax (CGT) receipts were raised in 2019/20. Back in 2020, the Chancellor had asked the Office of Tax Simplification (OTS)…

The new Health and Social Care levy – how will it work and who will be paying?

October 5, 2021October 6, 2021

In September, some feathers were ruffled when the Prime Minister announced a new Health and Social Care levy, to fund reforms to the care sector and to support the NHS. …

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