Author: Simon Murrison

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 […]

Companies House webinars

Join Companies House live webinars for quick and useful guidance. The webinars cover a range of topics, including: starting a limited company and your responsibilities to Companies House and HMRC how intellectual property such as patents, trademarks and copyrights can […]

are you trading with the EU?

If your business moves goods between the UK and countries in the EU, they will need to follow new customs and tax rules. Their business will be affected by the new rules if they: buy goods from an EU seller […]

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