Planning for the future is essential when running a business and you should have a perspective of where you want to be in three to five years. Goals or targets provide a sense of direction, focus, and motivation. However, how do you set aims effectively? You could try the SMART method. This relies on five key […]

Chancellor Jeremy Hunt has announced a series of changes to the UK research and development (R&D) tax credit regime, including a cut to the deduction and credit rates for the SME scheme. The R&D SME scheme enhanced deduction rate will be cut to 86 per cent from the current 130 per cent, and the payable

Companies House has gone fully digital after the announcement of the closure of its office in London and all filing being transferred online. It has also permanently shut the public counters in Cardiff, Belfast and Edinburgh. Online services will be available 24 hours a day, seven days a week. Changes have taken place with improved

The exemption for paying Capital Gains Tax (CGT) is changing. The CGT annual exemption will fall from £12,300 to £6,000 from April 2023, before being cut in half again to £3,000 from April 2024. CGT is what you pay on any gains that you make when you come to sell an asset, such as a

Inflation is described as paying £15 for that £10 haircut you used to get for £5 when you had hair. It is soaring at the moment and leaves business owners facing real problems.  If they increase their prices, they risk losing customers, but if owners peg prices, they put their profits and potentially their business

The festive season of goodwill is upon us as Christmas fast approaches. It is a time of year when employers look to reward their staff for their efforts over the past 12 months. But they should be aware that particular tax, National Insurance and reporting obligations apply. We want to ensure that you enjoy the festive season

The status of IR35 or off-payroll working has recently caused more confusion once the repeals to reforms announcement by Kwasi Kwarteng were scrapped by new Chancellor Jeremy Hunt. Tax legislation designed to stop a form of tax avoidance known as disguised remuneration; IR35 is a set of rules applicable to individuals who avoid paying Income

Card payments rocketed during the pandemic with no sight of slowing down. According to figures from the British Retail Consortium (BRC), card payments account for four of every five payments made. But as consumers switch, the soaring cost of accepting card payments is hitting retailers and adding to business costs.   According to the Institute of

If you are an owner of a limited company, taking dividends from your business is a mainstay of effective tax planning. When taking money in the form of a salary, you can make the most of an additional £2,000 annual allowance and lower rates. However, there are restrictions on the circumstances in which a limited