Latest Blogs in Business Tax
Mike Blackledge
6th March 2024 Spring Budget 2024: For Businesses

Spring Budget 2024, a Budget to lower taxes and achieve higher growth.   The Chancellor has announced that there is good news for the economy, with the Office for Budget Responsibility (OBR) confirming that inflation is currently at 4% and is likely to reduce below the Governments target of 2% in the next few months.…

Sarah Lockhart-White
11th January 2024 Spring Budget Predictions

The Chancellor, Jeremy Hunt, has announced that the Spring Budget will take place on Wednesday 6 March 2024. This will be the Chancellor’s second budget and will include the government’s tax and spending plans as well as new growth and borrowing forecasts.   The Spring Budget could be followed by a general election in as…

Ian Piper
23rd November 2023 HMRC ‘Nudge Letter’ Targets

The HMRC “Nudge Unit”, previously called the Behavioural Insights Team, was a team within the Cabinet Office that was tasked with improving government services and saving money by employing a blend of behavioural economics and psychology.  An example of this in practice is the so-called “nudge” letters (referred to by HMRC as ‘one-to-many’ letters) HMRC…

Mike Blackledge
23rd November 2023 Autumn Statement: What’s In It For Businesses?

We all saw the Autumn Statement on 22 November, but the question is, what’s in it for businesses?   This years three words were unsurprisingly Reduce, Cut and Reward, so with inflation reduced, taxes have been cut and there are rewards to hard work.     National Insurance The biggest headlines relate to National Insurance…

Sarah Lockhart-White
6th November 2023 New rules on Associated Companies

From 1 April 2023 the rules changed so that the rate of corporation tax that a company pays, and when, is dependent on the level of its profits as well as the number of its associated companies.     Rate Of Corporation Tax Standalone companies from 1 April 2023 with profits exceeding £250,000 will be…

Nick Edgley
12th October 2023 Company Electric Vehicle (EV) Charging At Home

HMRC has amended guidance on the tax treatment of electric charging of company cars and vans at residential properties.   Many business owners will have purchased an electric car or van, owned within a company, over the last few years, attracted by the generous business and personal tax treatments. Where this Electric Vehicle (EV) has…

Liz Simpson
27th September 2023 HMRC increase interest rates

Until inflation is under control, HMRC have no option but to adjust their interest rates in accordance with changes decreed by the Bank of England.   There are two rates to consider, both linked to the Bank of England base rate: Late payment interest, set at base rate plus 2.5% Repayment interest, set at base…

Sarah Lockhart-White
7th August 2023 R&D tax relief changes: Disclosure rules delayed to 8 August.

HMRC have delayed the introduction of the claim notification forms and additional information requirements regarding Research & Development (“R&D”) tax claims by a week due to delays in Finance Bill timetabling.   Originally due to come into effect on 1 August 2023, the Relief for R&D Regulations 2023 will now be put into law on…

Rob Dedman
1st July 2023 Autumn Statement Predictions

The Chancellor, Jeremy Hunt, has confirmed that the Autumn Statement is scheduled for 22 November 2023. This will give the Chancellor the opportunity to set out future tax plans and give some indication of whether there are likely to be any potential tax cuts before the general election, which must be held before the end…

Benjamin Burtenshaw
22nd June 2023 Self-Serve VAT Payment Plans Launched By HMRC

As of 31st May 2023 certain VAT-registered businesses are now able to arrange VAT payment plans directly with HMRC via their online account.   HMRC – Set Up A VAT Payment Plan   Businesses will be eligible to set up the payment plan online if: the latest VAT return has been filed; the total amount…