In the Spring Budget 2021, Chancellor Rishi Sunak announced that the UK's main rate would increase to 25% (for profits over £250,000) from April 2023, at the same time as a separate small-profits rate of 19% (for profits of £50,000 [...]
It's not often that HMRC makes exceptions to its tax deadlines or late-filing penalties, but the past year has, as in so many ways, been different. Between optional deadline deferrals, new payment schemes and temporary reliefs, keeping on top of [...]
Looking forward through the next 12 months, tax management and planning could play an important role in helping your business survive these uncertain times. Now is a good time to review whether the tax planning strategies of your business both [...]
R&D tax credits allow small companies to deduct an extra 130% of their qualifying costs from any profits, in addition to the existing 100% of qualifying costs - a total potential deduction of 230%. Can my company claim R&D relief? [...]
Working from home offers all kinds of benefits, from the opportunity to create the perfect environment in which you can be most productive, to the improvements to work-life balance that come with ditching the commute. Working from home has tax [...]
Capital allowances provide the mechanism for tax relief on certain types of capital expenditure essentially providing a deduction against profits. Are you maximising your capital allowances position? Read our guide here to see how to minimise business tax in 2018//19.
There are a number of rules that surround carrying on a similar business through a new company after the original company has gone into insolvency, also known as ‘phoenixing’. Read our update to understand what the tax legislation says about [...]
With a new tax year almost upon us, many sole traders will be reviewing their business structure and considering whether it’s worth switching to a limited company. What’s involved? Read our update to see what to expect from incorporating your [...]
The patent box regime applies a reduced rate of corporation tax to profits attributable to qualifying patents and similar intellectual property for incorporated businesses. Read our guide to see whether you qualify and how the profits are calculated.