The Future of UK Corporation Tax

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 [...]

2021-04-13T11:40:23+01:00April 13th, 2021|Corporate Tax|

Personal Tax Planning For 2021/22

If there's one thing to take away from the Spring Budget 2021, it's taking charge of your personal finances. This is going to be increasingly important over the next five years. So, what's changing for the new tax year? Not [...]

2021-04-13T11:40:23+01:00April 13th, 2021|Personal Tax|

National Insurance Planning

A recent report by the Institute for Fiscal Studies (IFS) argued that the tax system, and especially the different NICs rates, tend to favour self-employment while discouraging employment. Historically, self-employed people have paid lower NICs because they were eligible for [...]

2021-03-02T16:54:54+00:00March 2nd, 2021|National Insurance|

Are You Prepared for the Changes to IR35?

From 6 April 2021, organisations that engage contractors through personal service companies or other intermediaries, such as partnerships or limited liability partnerships, will need to assess whether the rules apply to contracts they enter into. The rules will affect medium [...]

2021-03-02T16:55:51+00:00March 2nd, 2021|IR35|

How to Plan for Your Retirement

If you have a defined contribution pension scheme - whether private or through your employer - your retirement savings have probably been hit quite hard by the COVID-19 pandemic over the past 12 months. The average pension lost around 15% [...]

2021-02-03T12:43:24+00:00February 3rd, 2021|Pensions|

Construction Sector: Reverse Charge VAT

Those working in the UK's construction industry will have to handle and pay VAT differently from 1 March 2021, unless there's another last-minute Government u-turn. The reverse charge affects VAT-registered businesses that operate under the construction industry scheme (CIS). These [...]

2021-01-18T16:59:25+00:00January 18th, 2021|VAT|

Strategies for Exports After Brexit

The UK has left the EU, and for British exporters, that presents both opportunity and uncertainty. While the new trade agreement places no tariffs or quotas on goods traded between the UK and EU from 1 January 2021, it may [...]

2021-01-18T16:59:25+00:00January 18th, 2021|Business|

How to Manage Cashflow in Your Business

Even before the pandemic, cashflow problems were among the main causes of business failure. The danger is they can be hard to spot if other financial measures, such as profit, are looking positive. In many cases the signs aren't obvious [...]

2020-12-02T16:23:47+00:00December 2nd, 2020|Business|

Gains on UK Residential Property

Earlier this year, a new rule requiring capital gains tax on UK residential property to be reported and paid to HMRC within 30 days kicked in. From 6 April 2020, anyone making a taxable gain from the sale of an [...]

2020-12-02T16:23:47+00:00December 2nd, 2020|Property Tax|
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