Most dictionaries define “bottom line” as “the most important thing to consider”.
In financial circles it’s taken to mean a focus on profitability (the last line on a P&L
Focus on bottom line
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Company accounts filing – don’t be late…
It’s the directors’ responsibility to file their company’s accounts, and make sure they’re filed on time. It’s important to understand your role and how late filing could affect your company.
Missing
Enterprise Investment Scheme investee businesses
The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase new shares in those
NIC changes for employees from 6 January 2024
In the recent Autumn Statement, the Chancellor announced a significant change to National Insurance contributions (NIC) for employees.
There will be a cut in the main rate of Employee National
Corporation Tax marginal rate
The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023. A Small Profits Rate (SPR) of 19% was also introduced from the same date for companies
Tax relief for R&D intensive SMEs
In the Autumn Statement it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will be merged from April 2024.
It was also confirmed that there will be
NIC changes for the self-employed
In the recent Autumn Statement, the Chancellor announced two important changes to National Insurance contributions (NIC) for the self-employed.
The first change concerns the removal of Class 2 NICs
Summary of Companies House changes
The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023. The new Act provides Companies House with more power to reduce the abuse of corporate structures whilst at
What now, following the Autumn Statement
In some respects, the Chancellor’s predicament is deserving of a sympathetic ear; its as if he has a long journey ahead but has one foot firmly nailed to the floor.
Stagnant growth in the UK and
Directors’ duties and responsibilities
To be a director, you must be over 16 and not currently disqualified.
As a director your responsibilities include:
filing your company’s annual accounts and reports or appoint an accountant to do
CGT – Lettings relief
In general, there is no Capital Gains Tax (CGT) on a property which has been used as the main family residence. This relief from CGT is commonly known as Private Residence Relief or PRR. However,
Gifts of shares to minor (under 18s) children
The settlement legislation seeks to ensure that, where a settlor has retained an interest in property in a settlement, the income arising is treated as the settlor’s income for all tax purposes. A
The badges of trade
The ‘badges of trade’ tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic trade / business activity or merely a money-making by-product of a
What counts as holiday accommodation?
HMRC’s VAT Notice 709/3 entitled ‘Hotels and holiday accommodation’ explains how supplies by hotels and similar establishments such as motels, guesthouses and B&Bs should be treated for VAT
IHT – Giving away your home before you die
The majority of gifts made during a person’s life, including gifting a home, are not subject to tax at the time of the gift. These lifetime transfers are known as ‘potentially exempt transfers’ or
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