Author: Sarah Shannon

Analysing the Spring Budget Impact:

What was almost certainly the last Budget before the election was a serving of the widely expected, sprinkled with a handful of small surprises.

Scottish Budget: Additional Announcements

Some other announcements worth sharing include: You can read our Scottish budget economic summary and Scottish budget tax announcements Get in touch today for expert accounting and tax advice.

Income tax saving opportunities

Switching income from one spouse or partner to the other can help save tax. Everyone should make sure they use their personal allowance (a maximum of £12,570 in 2023/24, and frozen at this level until 2027/28). For couples, if either […]

Making the dividend or bonus decision

The end of the tax year is drawing near and many owner-directors of companies are putting their minds to deciding which is more tax-efficient: a bonus or a dividend. Tax laws and rates that will affect your decision have changed […]

Tax-deductible car charges

The expansion of London’s Ultra Low Emission Zone (ULEZ) has focused attention on the business use of cars and whether clean air charges are tax-deductible. As well as London, ULEZ charges for non-compliant cars are imposed in Bristol and Birmingham, […]

Employee share incentive schemes under review  

Employee share incentive schemes under review  

Use of two tax-advantaged employee share schemes has declined since 2016, prompting a review into whether their rules are sufficiently simple and clear, and contain enough flexibility to meet companies’ needs.   A government-commissioned research report published in June found that […]

Spring Statement 2023: Tax Administration

Charitable reliefs UK charity tax reliefs and exemptions will be restricted to UK charities and community amateur sports clubs (CASCs). The change is effective from 15 March 2023 and affects income tax, CGT, corporation tax, IHT, stamp duty, SDLT, SDRT, […]

Super Deduction Scheme Ending

Did you know the Super Deduction Scheme Ends on 31 March 2023? The good news is there is still time to take advantage of this opportunity to grow your business with the Super Deduction allowance before the incentive runs out. […]

The Chancellor’s May economy statement: all about energy

Economy Statement In late May, the Chancellor announced new measures to counter the rising cost of living, in particular energy prices. Source: Ofgem. Initial measures for 2022 In early February 2022, the Chancellor announced a package of measures to reduce […]

trust planning opportunity still available

Another tax planning strategy that is still available despite rumours that it would be closed in the Budget was the CGT hold over relief when assets are transferred into or out of a trust. This relief currently enables a non-business […]

becoming a more eco friendly business

Some have started, others are giving it serious consideration. If you haven’t yet begun, start small and keep it going. And don’t look back. Environmental sustainability has moved to the forefront of the news headlines especially with COP26 taking place […]

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