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 […]
Category: All News
future changes in store?
One crafty way for the Chancellor to bring in extra tax revenue without raising headline tax rates in a future Budget or Spring Statement would be to limit some of the generous tax breaks that are currently available. The Chancellor […]
uncertainty leads to distractions and deviations
All the negativity in the press can lead to us feeling “out of control” and uncertain about in what direction we should take our business. We firmly believe in our clients and their aims, hopes and ambitions and in remaining […]
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 […]
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 […]
Christmas is the time for giving
Many were expecting the chancellor to announce changes to inheritance tax (IHT) in his Autumn Budget, However, like capital gains tax (CGT), the rules have remained broadly the same as last year. That means that each tax year individuals may […]
let’s have a real christmas party this year!
Last year many businesses put on a “virtual” Christmas party event and HMRC agreed that would be acceptable in order for there to be no taxable benefit for the employees involved. There continues to be no taxable benefit for employees […]
report CJRS furlough grants on corporation tax returns
The latest version of the CT600 Corporation Tax Return requires companies to report CJRS furlough payments received and the amounts that the company was entitled to during the period. Where any overpayments have already been disclosed to HMRC that amount […]
advisory fuel rate for company cars
HMRC have again increased the advisory fuel rates that apply for the reimbursement of employees’ private fuel for their company cars. The new rates apply from 1 December 2021, but you can continue to use the previous rates for up […]
Innovate UK Smart Grants: Autumn 2021
Smart is Innovate UK’s ‘open grant funding’ programme. It provides an opportunity for UK registered organisations to apply for a share of up to £25 million to deliver disruptive research and development (R&D) innovations that can significantly impact the UK […]
R&D Tax Credit quote calculator
Complete the R&D Tax Credit calculator and you will understand how much of your qualifying R&D expenditure you could get back from HMRC by way of a R&D Tax Credit. And we will provide you with an estimate of the […]
Maxing Tax Digital delayed until 2024
In recognition of the challenges to many businesses due to the pandemic, the government has delayed the introduction of Making Tax Digital (MTD) for income tax self-assessment (ITSA) by a further year. MTD will not be mandatory for self-employed individuals and landlords until accounting periods commencing on or after 6 April 2024. The start […]
Funding Matters
Digitisation Matters
Strategy + Planning
Tax Planning + Advice
R&D Tax Hub