We wanted to remind you of the Inheritance Tax (IHT) implications of making cash gifts during the current tax 2022-23 tax year that will end on 5 April 2023.
You can give away up to £3,000 worth of
The annual exempt amount applicable to Capital Gains Tax (CGT) is to be more than halved from April 2023. This means that the exempt amount will be reduced from £12,300 to £6,000 from April 2023
A salary sacrifice arrangement is an agreement to reduce an employee’s entitlement to cash pay, usually in return for a non-cash benefit. The tax and NIC advantages of certain benefits provided as
Business rates are charged on most non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. Some properties are eligible for discounts from
If you are required to register your business for VAT purposes you are joining that reluctant band of business owners that are obliged to collect tax for HMRC.
The amount of VAT you have added to
All business owners, but predominantly retailers, leisure and entertainment trades, will have seen their hard-won capital all but exhausted by the needs to meet fixed costs when income generation has
The UK and Scottish governments have jointly announced that Inverness and Cromarty Firth Green Freeport and Forth Green Freeport have been successful in their bids to establish two new Green Freeports
The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also be introduced from the same date for
The new business Energy Bills Discount Scheme will replace the current Energy Bill Relief Scheme which is coming to an end on 31 March 2023. The new scheme will offer support to eligible non-domestic
HMRC has powers introduced in the Finance Act 2022 to name tax avoidance schemes and their promoters. Under this legislation HMRC can name avoidance scheme promoters, publish details of the way they
A Post Transaction Valuation Check (PTVC) can be requested from HMRC for an individual to work out a Capital Gains Tax liability or for companies to calculate Corporation Tax liability on chargeable
There are currently two schemes for claiming R&D tax relief – the Small or Medium-sized Enterprise (SME) Scheme and the R&D Expenditure Credit (RDEC) Scheme for large companies. The amount of
Leaving politics to one side, how can we deal with the current pressures on businesses? Rising costs, reducing revenues as the cost-of-living issues impact activity, increasing taxes – Corporation Tax
There is a particular section of internal HMRC’s manuals that deals specifically with how to view the rules for measuring profits of specific trades. The list includes over 50 different trades as
There are a number of ways you can check if a company is in liquidation. This can include searching the Companies House register. Companies House is responsible for maintaining a register of company
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