Latest Business News
R&D relief slashed – Time to plan
Chancellor Jeremy Hunt has announced a series of changes to the UK research and development (R&D) tax credit regime, including a cut to the deduction and credit rates for the SME scheme. The R&D SME scheme enhanced deduction rate will
Companies House goes fully digital
Companies House has gone fully digital after the announcement of the closure of its office in London and all filing being transferred online. It has also permanently shut the public counters in Cardiff, Belfast and Edinburgh. Online services will be
Be prepared for changes to Capital Gains Tax thresholds
The exemption for paying Capital Gains Tax (CGT) is changing. The CGT annual exemption will fall from £12,300 to £6,000 from April 2023, before being cut in half again to £3,000 from April 2024. CGT is what you pay on
How to protect your business from inflation
Inflation has been described as paying £15 for the £10 haircut you used to get for £5 when you had hair. It is soaring at the moment and leaves business owners facing real problems. If they increase their prices, they
How to keep workplace gifts tax-free this Christmas
The season of goodwill is just around the corner as Christmas approaches. It is a time of year when employers look to reward their staff for their efforts throughout the year. But they should be aware that certain tax, National
IR35 rules – What they are and why they matter
The status of IR35 or off-payroll working has caused some confusion since the repeals to reforms put forward by former Chancellor Kwasi Kwarteng were subsequently scrapped by new Chancellor Jeremy Hunt. IR35 is tax legislation designed to deal with a
New rules to address the soaring cost of card payment fees
Card payments rocketed during the pandemic and that trend has continued since then. According to figures from the British Retail Consortium (BRC), card payments account for four out of every five payments made. But as consumers switch, the soaring cost
When can you take a dividend from your business?
If you are an owner of a limited company, taking money out of your business using dividends is a mainstay of effective tax planning, thanks to an additional £2,000 annual allowance and lower rates than apply when taking money in
Time to rethink your property portfolio? What you need to consider
Investing in property can still provide a strong return, but it needs careful planning to achieve the best outcomes. Just buying new properties without a clear strategy would be risky. While it is true that rates of interest continue to