Author: Simon Murrison

Business rates loophole on second homes closing

Owners of holiday lets and second homes in England have been able to avoid council tax by registering their properties as businesses. However, from April 2023, small business rates relief will only be available if a property is let out […]

The patchwork effect of rising inflation

2021 ended with inflation sitting at 5.4%, but it may not have felt like that to you.  Source: Office for National Statistics. You may have caught the food campaigner Jack Monroe on TV and radio interviews recently highlighting how the […]

what is a ‘reasonable excuse’ for tax penalties?

Having a reasonable excuse can be a get-out-of-jail-free card if you are charged a tax penalty. However, there is no statutory definition of the term, and what might constitute a reasonable excuse for one person may not for another. With […]

Cashflow planning tips for the new year

Cashflow planning tips for the new year

Cash flow and business planning in these uncertain times may appear difficult but there are some practical steps you can take to minimise potential disruption to your business Review your Budgets (see: Budgeting for an uncertain year ahead) and set […]

IHT receipts reach £6 billion record

The amount of inheritance tax (IHT) collected by HMRC over the past year reached a record £6 billion, some £1 billion more than the previous 12 months. This increase comes as no surprise given booming property values and frozen nil […]

what’s going on outside?

The latest Office for National Statistics (ONS) survey to June 2021 showed that the UK gross domestic product (GDP) is estimated to have increased by 5.5% in Quarter 2 (Apr to June) 2021, revised from the first estimate of a […]

Autumn budget: business taxes

Overall the UK autumn budget is uneventful and some of the announcements outlined below will not impact Scottish businesses. We look forward to the Scottish budget on the 9 of December and will be sharing announcements that will have a […]

autumn budget: personal taxation and investments

income tax For 2022/23 to 2025/26, the personal allowance will remain at £12,570 and the higher rate threshold at £50,270, as previously announced. In Scotland, the higher rate threshold for non-savings, non-dividend income will be announced in the Scottish Budget […]

autumn budget overview & highlights

The first autumn Budget for three years was a three-part presentation. The Chancellor’s well-trailed speech was accompanied by the first multi-year Spending Review since 2015 and the latest Economic and Fiscal Outlook (EFO) from the Office for Budget Responsibility (OBR). […]

protecting your business against fraud

Instances of fraud have increased during the pandemic – what can you do to help mitigate the risks? Invoice fraud is on the rise and while not a particularly new scam, it can be catastrophic for businesses who fall victim […]

beware mini-umbrella company fraud

HMRC are urging businesses to look out for the use of mini-umbrella companies (MUCs) to pay contractors supplying their labour via agencies and other intermediaries. Businesses need to be aware of the financial and reputational risks of such entities in […]

ammu hubs