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Incentive to invest

Incentive to invest

Next week, 15 March, the Chancellor will deliver his first Spring Budget. It will provide an opportunity to cushion companies from the effects of the Corporation Tax (CT) increase to 25% and the

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National Living Wage rates from April 2023

National Living Wage rates from April 2023

New National Minimum Wage (NMW) and National Living Wage (NLW) rates come into effect on 1 April 2023.

The new rate for the NLW will be £10.42 which will represent a 92p increase over the current

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Tax when you sell shares

Tax when you sell shares

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% when you sell shares unless they are in a CGT free investment such as an ISA or qualifying pension.

If you only pay basic

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Still time to claim Marriage Allowance

Still time to claim Marriage Allowance

HMRC is reminding married couples and those in civil partnerships that there is still time to sign up for marriage allowance before the end of the current tax year (5 April 2023) if they are eligible

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New VAT penalty regime

New VAT penalty regime

The first monthly returns and payments affected by HMRC’s new VAT penalty regime are due by 7 March 2023. The new rules apply to the late submission and / or late payments of VAT returns for VAT

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Scottish Winter Payments Support

Scottish Winter Payments Support

The Scottish Winter Heating Payment is a new Scottish Government benefit that replaces the Department for Work and Pensions’ (DWP) Cold Weather Payment. It can be claimed by eligible claimants on low

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What is a Share Incentive Plan?

What is a Share Incentive Plan?

Share Incentive Plans (SIPs) were first introduced in July 2000 to give employees tax and NICs savings when they buy or are given shares in the company they work for.

Provided all the qualifying

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Breaking even – checking the numbers

Breaking even – checking the numbers

In previous newsfeeds we have described how you can calculate the level of turnover you need to create in order to meet all your costs whether they be fixed costs (rent, rates etc.,) or variable costs

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Bereavement Support Payment

Bereavement Support Payment

The amount of Bereavement Support Payment you can claim will depend on your relationship to the person who died and when you make your claim.

Your payments will be paid into your bank, building

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Tax codes for employees

Tax codes for employees

The P9X form is used to notify employers of the tax codes to use for employees. The latest version of the form has been published and shows the tax codes to use from 6 April 2023. The form states that

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Properties not let at commercial rates

Properties not let at commercial rates

There are special rules where a property is let at less than a commercial rate or isn’t let on commercial terms. These rules also apply if a property is occupied rent free or at less than a commercial

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Miscellaneous benefits in kind

Miscellaneous benefits in kind

The list of miscellaneous company benefits that can be provided tax-free to employees is quite short. However, some of the benefits that can be provided include the following:

Medical insurance or

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Beneficial loans that are exempt

Beneficial loans that are exempt

An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial

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The digital pound

The digital pound

A new consultation has been published jointly by HM Treasury and the Bank of England to consider the launch of a potential digital pound, or central bank digital currency (CBDC). The possible new

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