Latest Business Tax

Wondering whether there is tax on selling that unwanted jumper from Granny? HMRC continue their focus on targeting areas where they believe more tax can be collected. Their latest campaign is looking at individuals who sell a high value of unwanted items online and checking that such activities are disclosed and taxed as a trade,…

Whilst one of the main talking points from the recent Autumn Budget was the increased National Insurance burden for employers, has one change gone under the radar?   Key Changes in the Budget Employers’ National Insurance Increase: The rate has risen from 13.8% to 15%, and the threshold at which National Insurance contributions apply has…

We share a behind the scenes glimpse into what we discussed at our recent Lunch & Learn with our tax experts!   Training is not only attending events or watching webinars. We make our training practical and share our experiences around the firm through our Lunch and Learn sessions.   Our most recent session starred…

We recently visited the offices of Taylor Rose Solicitors to co-host a Post-Budget Forum at their Peterborough office on 18 November 2024, overlooking the fabulous Ferry Meadows country park.   At the event Nicholas Johnson, Partner at Taylor Rose and I lead the discussions with those in attendance from the local business community, professional advisors…

Double Cab Pick Up Trucks Are To Be Treated As Cars The 2024 Autumn Budget has introduced a significant change for Double Cab Pick Up trucks (DCPUs).   Starting from April 2025, DCPUs with a payload of one tonne or more will be treated as company cars for tax purposes. This change will impact both…

The Autumn 2024 Budget has been a tough Budget for businesses, but it perhaps hasn’t provided too many surprises given the recent press announcements. Below we share our key takeaways for businesses…   Corporation Tax For those Limited Companies, there is confirmation of the main rate of Corporation Tax remaining at 25% for the duration…

The second Budget of the year is due to take place on 30 October 2024. We knew one would be happening, and expected that there would be many changes announced. More will no doubt come in the next few weeks.   Ahead of this, there is confirmation of the new rules relating to Furnished Holiday…

Amazon has recently announced changes in the VAT treatment of fees that will significantly impact UK sellers.   What Used To Happen? Previously, UK VAT-registered sellers only paid VAT on UK advertising fees which were billed from London. All other fees were billed from Luxembourg and generally fell under the Reverse Charge Mechanism.   What…

Do you know what VAT on purchases cannot be reclaimed? Most input tax incurred by VAT registered businesses can be recovered, however, there is some input tax that may not be.   A list of those areas where input VAT could be blocked is below: Where no or incorrect supporting evidence held Input tax relating…

We share our pre-Budget tax planning ideas, as the first Labour Budget is now only 5 weeks away (30th October). There is currently a lot of speculation of adverse tax changes that the business community and private tax clients should expect. Unfortunately, we have no inside knowledge of what Rachel Reeves will say. However, as…