This time of the year as we approach the end of the tax year we look at all the steps you need to take to make sure you are taking advantage of the tax savings measures available to you. We will consider the different measures and help you plan for the tax year-end. Although overall, […]
Category Archives: Tax Tips
Capital Allowances, Corporation Tax, Tax Tips, Uncategorized
Ways to reduce your corporation tax bill
28
Feb
Feb
With the corporation tax rate rising from 19% to 25%, business owners have started to face higher corporation tax bills from 1 April 2023. So, what are the ways to reduce your corporation tax bill? If you are running a profitable business, you may be wondering if you’re taking advantage of all the tax efficiencies […]
14
Feb
Feb
The property market for landlords has been experiencing a lot of changes in recent months. After the interest rate hikes, many landlords have been questioning whether it is still profitable to continue being a landlord. They are curious to know if the business of being a landlord is still worthwhile. Why is it difficult […]
07
Feb
Feb
When an employee has access to a car provided by their employer, it usually results in a company car benefit-in-kind (BIK). However, if the car is classified as a “pool” car, then no taxable benefit arises. So, when is a “pool” car, not a “pool” car? Company Car Tax A company car is a common […]
Business Tips, Employee Benefits, Personal Tax, Tax Tips
Salary Sacrifice Scheme and the Electric Car
17
Jan
Jan
Salary sacrifice has been around for a while now. But in recent times it has become a popular topic again. For two reasons, first employers want to offer a competitive package to help with staff retention. Second, money is tight for everyone, and a salary sacrifice scheme offers tax savings. Tax savings for both the […]
Employee Benefits, Payroll, Personal Tax, Tax Advice, Tax Tips
Giving back to your employees at Christmas
13
Dec
Dec
It’s that time of the year when we celebrate the spirit of giving. As the festive season approaches, you may be considering ways to give back to your employees. This could be in the form of a Christmas bonus, a fun party, and maybe a few gifts. But as you know by now gifting […]
06
Dec
Dec
Many small businesses may have lost track of MTD, which has been introduced five times already. What did the Autumn Statement 2023 say about MTD? The Autumn Statement 2023 included the outcome of the Making Tax Digital Small Business Review. The review focused on whether and how small businesses should be brought into MTD. So, […]
Business Tips, National Insurance, Personal Tax, self employed, Tax Planning, Tax Tips
Autumn Statement 2023 – The Overview
29
Nov
Nov
The Chancellor, Jeremy Hunt, made a statement on our economy last week. The Autumn Statement 2023 unveiled the current government’s tax and spending plans. The statement also focused on the growth of the British Economy over the coming years. The UK Economic Outlook The Chancellor expressed a strong desire to prioritise the expansion […]
22
Nov
Nov
Earlier today, Chancellor Jeremy Hunt delivered the Autumn Statement 2023. He began by stating that the economy had performed better than expected and that “real” income had increased. As a result, he announced 110 measures in the Autumn Statement that aim to drive growth. We were thankful that he did not go into each and […]
15
Nov
Nov
In the field of the rental business, whether an expense is tax deductible will very much depend on what it is. However, the ability to deduct expenses in a property business depends on the status of your rental business. So, what do we mean by the status of the business? Well, when it comes to […]