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A reminder to protect your business capital

A reminder to protect your business capital

The beginning of a new year is an opportune time to undertake basic business planning. One aspect that needs continuous management is to protect your business capital.

The downturn in global trade

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Tax Diary February/March 2024

Tax Diary February/March 2024

1 February 2024 – Due date for Corporation Tax payable for the year ended 30 April 2023.

19 February 2024 – PAYE and NIC deductions due for month ended 5 February 2024. (If you pay your tax

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New tax credits for film, TV and game makers

New tax credits for film, TV and game makers

A number of reforms to tax reliefs for the creative sectors came into effect from 1 January 2024. Under the reformed system, a children’s TV production, animated TV production or film with £1 million

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Beware higher rate tax on dividends

Beware higher rate tax on dividends

Readers are reminded that if the dividends they draw from their company, when added to their other income, exceeds the basic rate Income Tax Band, then much higher rates of dividend tax will

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Business Asset Disposal Relief

Business Asset Disposal Relief

Business Asset Disposal Relief (BADR) is available on the sale of a business, disposal of shares in a trading company or an individual’s interest in a trading partnership. Where this relief is

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VAT on period products scrapped

VAT on period products scrapped

Before Brexit, the UK was unable to zero rate VAT on women’s sanitary products under EU rules and the items were subject to 5% VAT. Following the end of the transition period the UK was no longer

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Setting up a payment plan with HMRC

Setting up a payment plan with HMRC

The 31st of January is a key date for those of us who are registered for self-assessment. There are three deadlines:

The closing date to file your 2022-23 tax return without incurring an initial

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Scottish Budget 2024-25

Scottish Budget 2024-25

Scotland’s Deputy First Minister and Finance Secretary, Shona Robison delivered her first Budget statement to the Scottish parliament on 19 December 2023.

The Finance Secretary said that the

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Do you need to register for VAT in 2024?

Do you need to register for VAT in 2024?

The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for

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Utilise your 2023-24 IHT reliefs

Utilise your 2023-24 IHT reliefs

We wanted to remind you of the Inheritance Tax (IHT) implications of making cash gifts during the current 2023-24 tax year that will end on 5 April 2024.

You can give away up to £3,000 worth of gifts

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Flat Rate Scheme annual review

Flat Rate Scheme annual review

If using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to

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