Latest Manufacturing

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.…

During the first lockdown HMRC paused most debt collection activities, which has contributed to the total UK tax debt of £39bn according to The Public Accounts Committee. HMRC have stated, “We are recouping debt safely, taking into account customers’ circumstances and making repayments affordable. It’s in no-one’s interests to push viable businesses into insolvency when…

The government have announced that they will be extending their plug-in van and truck grants for another two years to spring 2025, there will also be changes to the existing plug-in vehicle grants applicable for the funding of larger trucks.   From 1 April 2022, the threshold to claim the small truck grant of up…

If you operate a trade through a limited company, and your ‘numbers’ are big enough, then there are some scenarios where it is often best advice to insert a parent company above this trading company, to create a simple group structure: As a risk management measure, to enable valuable assets (eg business premises, investment property,…

For some businesses having a strong credit rating is fundamental to their future success. It can affect availability of supplier credit, the ability to borrow and eligibility to be on customer/prospect tender lists as an approved supplier. For many other businesses, however, this credit rating is totally irrelevant. Experian is one of the major rating…

Those businesses with comprehensive commercial insurance cover will possibly be covered for ‘business interruption’. This cover will typically include losses arising from events that close or severely disrupt operations. The COVID pandemic has already led to many claims under this. The insurance industry (as you might expect?) has warned that few policies are likely to…

The government is to increase the earliest age pension savers can access their pension pots from 55 to 57, wef 6 April 2028. Members of the firefighters, police and armed forces public service schemes will not be affected by this increase.

In the Chancellor’s Budget on 27 October 2021 it was announced that the planned date for reducing the Annual Investment Allowance limit from £1m to £200k is being extended from 1 January 2022 to 31 March 2023. This will effect businesses who are planning on investing more than £200k in plant and machinery from January…

The chance to take advantage of the generous temporary uplift in the AIA annual limit of £1,000,000 is coming to an end when it is due to revert to £200,000 from 1 January 2022.   It is a perfect time to plan to capitalise on claiming 100% tax relief on qualifying purchases without getting caught…

When COVID directly impacted upon the UK in Spring 2020, the Government introduced a range of measures specifically targeted to help SME businesses survive the expected period of financial strain. Such businesses should now be planning ahead for when this support is gradually withdrawn: 21-Jun-21 Deadline for arranging with HMRC when to repay COVID related…