Latest Blogs in Business Tax
Mike Blackledge
20th March 2023 The complexities of farming diversification

The ever-changing farming industry is one that provides a multitude of complexities for accountants and tax advisers, not only from the day to day aspects of the business, but also with the historical family arrangements to the issues of ownership and succession.   With the forthcoming changes to subsidies both in terms of the conditions…

Mike Blackledge
15th March 2023 Spring Budget 2023: For Businesses

In Jeremy Hunt’s first budget speech he provided a great deal of headline support to UK businesses and concentrated on the letter E with Enterprise, Everywhere, Employment and Education.   It was confirmed that the Corporation Tax rate will rise as previously announced to increase from 1 April 2023 from a rate of 19% to…

Ellie Parrington
7th March 2023 Super-deduction: One month left

Companies only have until 31 March 2023 to claim 130% capital allowances on qualifying fixed assets.  This ‘super-deduction’ was introduced in April 2021 to encourage businesses to invest in plant and machinery following the Covid-19 pandemic.   Under the super-deduction, for every £1 that a company invests, their taxes are cut by up to 25p.…

Jeannette Hume
1st March 2023 1-Apr-23: Changes to R&D tax relief

From 1 April 2023 there are a few changes to the ‘super-generous’ R&D tax relief rules: The Research and Development Expenditure Credit (RDEC) rate will increase from 13% to 20%, The SME additional deduction will decrease from 130% to 86% and the SME tax credit (surrender) rate will decrease from 14.5% to 10%. Additional costs…

Whitings LLP
23rd January 2023 Sky rugby commentator wins IR35 appeal

Former rugby player and Sky commentator, Stuart Barnes, has won his £695k appeal against HMRC. HMRC determined his contract for Sky from 2013 to 2019 should be subject to Income Tax and National Insurance.   Using previous case law, it was agreed there was mutuality of obligation (MOO) and a sufficient degree of control by…

Keri John
12th January 2023 Tip: How to pay your tax

The 31st January payment deadline is fast approaching. Here are some tips to ensure you get your payments to HMRC on time: HMRC accepts payments on date of payment rather than date it reaches their account You can pay via the secure HMRC App You can pay via scanning the QR code within your HMRC…

Richard Alecock
10th January 2023 HMRC interest rates for late and early payments

With the forthcoming Self Assessment payment date of 31st January 2023 just 3 weeks away HMRC have increased the late payment and repayment interest rates applied to the main taxes and duties that HMRC currently charges and pays interest from 6th January 2023: late payment interest rate — 6% from 6 January 2023 repayment interest…

Ian Piper
4th January 2023 Maximize WFH tax deduction

Many workers who partly or wholly work from home (WFH) can, either, be reimbursed for this tax free (if their employer permits) or claim a valid tax deduction for this expense. HMRC have now amended the special rules that they introduced during Covid for the maximum WFH deduction that can be claimed. For employees (including…

Whitings LLP
12th December 2022 Super-deduction: Time is running out

Incorporated businesses have until 31 March 2023 to claim 130% capital allowances on expenditure on certain fixed assets. This ‘super deduction’ was introduced in April 2021 to help companies continue to invest in plant and machinery after the pandemic.   Assets must be purchased new to benefit from the relief and it does not apply…

Ian Piper
2nd December 2022 e-signatures: Are they legal?

As we continually move from the analogue to the digital age, approving business documents by e-signature is becoming evermore common place. In response to this, The Law Society have just issued an updated practice note. This practice note sets the scene by recognising that e-signatures can be in various forms: name typed on a document…