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 […]
news
Boost your business with the Help to Grow: Digital scheme
The government’s recently launched Help to Grow: Digital scheme has two aspects: impartial advice and guidance about how digital technology can boost a business’s performance, plus a potential discount worth up to £5,000 towards the cost of buying approved software. […]
Covid-19: funding for businesses affected by Omicron control measures
Funding for businesses affected by measures to control the spread of the Omicron variant of coronavirus – including the hospitality sector, hairdressers and taxi drivers. Scottish Brewers Support Fund was added on 25 January 2022 and updated information was added […]
Focus on tax year-end planning
With Christmas and New Year behind us, tax year-end planning should now be on your radar. The 2021/22 tax year will end on Tuesday 5 April. This year there is no Spring Budget and Easter arrives on 15 April, so […]
18 Point Tax Year End Checklist
Before the current tax year ends, it’s worthwhile asking yourself ‘have I utilised all tax allowances and exemptions available to me, my family, and/or business?’. To help you we’ve outlined 18 opportunities that may be available for personal and for […]
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 […]
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 […]
Tax Matters 2021-2022
In brief: what are the tax planning options available for companies and individuals? For companies it is all about the most tax efficient way of extracting profits such as dividends verses salary, contributions to pensions and receiving tax efficient benefits. […]
CGT reporting and payment deadline extended
For disposals of UK residential property completed on or after 27 October 2021, the reporting and capital gains tax (CGT) payment deadline has been extended from 30 days after completion to 60 days. The previous 30-day time limit has proved […]
MTD for income tax postponed to 2024/25
Having listened to stakeholder feedback from businesses and the accounting profession, the government have announced that they will introduce Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) a year later than planned, in the tax year beginning in April […]
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 […]
Funding Matters
Digitisation Matters
Strategy + Planning
Tax Planning + Advice
R&D Tax Hub