Here are the tax implications relevant to providing a gift/event to best please your employees, whilst also being financially sensible.
Sole traders & partnerships: If your year-end is not 31 March or 5 April, HMRC is changing how it will assess your profits.
Full expensing is a 100% relief for new, eligible plant and machinery, essentially reducing its in-year cost by 25%. Businesses that invest in IT equipment and machinery will be able to claim back the cost by writing it off against tax on their profits and will be available for expenditure incurred up to 31 March 2026. This is in addition to the £1 million annual investment allowance (AIA).
If you’re considering using a piece of cloud-based accounting software, such as Xero, QuickBooks, or Sage, then it’s important you understand what each option can offer you. What follows are some worthwhile considerations…
Have you increased the value of your goods, supplies or labour, to maintain your profit margins? If so, and you are not already registered for VAT, you will need to keep a close eye on your turnover. You might go over the VAT threshold without realising it.
In an attempt to slow price rises, the Bank of England has increased interest rates for the thirteenth consecutive time to 5%, the highest in almost 15 years.
Offering benefits to your employees has a number of advantages. If you’re deciding whether you could be providing them, consider these potential positives…
When establishing a business, one crucial decision is determining the appropriate legal structure. For entrepreneurs and investors looking to expand their operations, the choice between incorporating or not can significantly impact their prospects and overall success.
There are always competing factors to consider when thinking about your March year-end as a company. How prepared do you feel?
For a round-up of what the Spring Budget contained and how this might affect you, please read our summary of some of the major changes.
In an attempt to boost the post-pandemic economy, the super deduction tax rate and special rate allowance were introduced to encourage businesses to invest and boost productivity. However, these reliefs are coming to an end…
In March 2021, when Rishi Sunak was Chancellor, the Corporation Tax rise was first announced. After some confusion that arose from the mini-budget, Jeremy Hunt has since confirmed that this rise will still take place in April 2023.
What’s in it and how might it affect you? On the 17th of November 2022, Jeremy Hunt revealed the details of his Autumn Statement.
