My Latest Blogs
8th December 2022
Stamp Duty Land Tax
When dealing with agricultural tenancies SDLT – Stamp Duty Land Tax can be a complex issue. On completion in England of a farm business tenancy – FBT – it’s important to establish whether an SDLT return needs to be submitted, whether it is payable and if so, how much. For a fixed term FBT,…
25th November 2022
Cashflow and the payment of tax
It has recently been reported that the tax debt owing to HMRC as at 30 September 2022 stands at £46.9 million, and they are taking positive action to recover this from both individuals and business. The profession has certainly seen a much more proactive approach from HMRC, and given the financial pressures on all,…
21st November 2022
R&D tax relief: A hot topic!
In the recent Autumn statement, there was the mention of a further focus on the matter of Research & Development (R&D), whereby this is something that is certainly wanted by the government given its benefits in moving the economy forward in a positive manner. However, R&D can and does provide businesses with a very…
17th November 2022
The Autumn Statement: The owner managed business
There is one thing that we have all become accustomed to over the last few years and that is when there is ever a government announcement, there is a three-word slogan, and I would say that this time it should be “Hard” “Times” “Ahead”. We are already aware of the increase in corporation tax,…
3rd October 2022
45% tax rate: Abolition abandoned
Less than 10 days after the government announced their ‘Growth Plan’ (otherwise known as the ‘mini-budget’), the chancellor has announced that the government will not proceed with the proposed plans to cut the 45p tax rate cut which was intended to come into effect from April 2023. As the government seem to be acting…
23rd September 2022
Mini Budget: How it affects SME’s
In his first fiscal statement in his recently appointed role as Chancellor of the Exchequer, Kwasi Kwarteng has made a series of unusually radical announcements to try and stimulate growth in the UK economy. Owners of SME businesses will be particularly interested in the following business tax changes: The planned corporation tax rise in April…
6th April 2023
P11d’s, ATED & Form 42 Returns: Now due to HMRC
Although a business may have an accounting year which doesn’t end on 5 April each year, they will still be required to submit various returns to HMRC on a tax year basis. Compliance is now an extremely important aspect of any business, with deadlines, fines and indeed penalties being applied where dates are missed, or…
6th April 2022
Happy New Tax Year!!
For many working in the tax industry the 6 April is a time of celebration, of course it is not a matter of grooving the night before and counting down the clock, however it heralds the opportunities provided by the newly introduced tax legislation. At the same time there is also the reflection of what…
23rd March 2022
The Spring Statement and businesses
A Spring statement isn’t a budget, but this Spring statement felt like a mini budget in terms of the immediate announcements that will come into effect and also those that will be happening in a few months’ time. Spring Statement 2022 What has been in the Chancellor’s favour has been the strength of the UK…
8th March 2021
Budget 2021: Super Capital Allowances
In what was seen my many as a Budget lacking in ideas to kick start the economy back into life, Rishi Sunak’s announcement of a notional 30% uplift to eligible capital allowances headlined as the proverbial ‘rabbit out of the hat’. The tweaked allowances will give businesses purchasing brand new plant and machinery more tax…