13-01-2023
Alongside commemorating its 50th anniversary year, Wilder Coe, with ETL Global, welcomes Robert Bradman and Bee-Lean Chew as Joint Managing Partners, effective 1 January 2023. Jitendra Pattani, who has been Managing Partner since 2017, is now stepping into the role of Chairman. Jitendra Pattani comments, “It has been a pleasure to manage the Firm over
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11-01-2023
A significant overhaul of the VAT penalty system came into effect on 1 January 2023, with new changes to how penalties are applied and how to calculate and pay interest. Let us break down what you need to know about the changes. What is changing in the VAT penalty system? The main change for businesses
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11-01-2023
Keeping up-to-date with your organisation's financial health is critical to its success. A great place to start is by understanding what a balance sheet is and what it can tell you about the health of your business. Let us explore what a balance sheet is and how you can improve yours. What is a balance
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11-01-2023
If you own a small business and are also a shareholder director, you may wonder whether to take a salary or dividends. When it comes to paying yourself, there are both advantages and disadvantages to each option, including potential tax savings. We’ll explore how taking salaries versus dividends for shareholder directors of small businesses in
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11-01-2023
For many individuals in the UK, gifting to grandchildren is an opportunity to reduce their tax burden. But before entering into any gifting arrangement, it is crucial to understand the various tax considerations that come with it. We discuss some of the tax implications of gifting to grandchildren in the UK. Inheritance Tax implications UK
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11-01-2023
Every business needs sound financial planning and oversight to thrive. With the new tax year approaching, now is the perfect time to start thinking about ways to improve your business’s finances in 2023. Read on to learn some tips to guarantee your business’s finances are healthy and secure. Develop a financial plan The best way
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11-01-2023
Businesses are running out of time to take advantage of the Corporation Tax super-deduction capital allowance scheme, which allows companies to claim back 130% on investments made in plant or machinery. The scheme runs until 31 March 2023. With Corporation Tax rates set to rise in April 2023 for more profitable businesses, there’s not much
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11-01-2023
The Government announced a two-year delay and changes to the rollout of its Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) initiative. MTD for ITSA will now look to begin from April 2026 for a small group of taxpayers rather than launching in April 2024. The move will give self-employed workers, sole traders and
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13-12-2022
You could see your Income Tax bill increase significantly in 2022-23 because of an Income Tax thresholds freeze announced by the Chancellor in the Autumn Statement. While the basic (20%) and higher (40%) thresholds are remaining at their current levels until 2028, rising wages will see people dragged across these thresholds over the coming years.
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13-12-2022
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
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13-12-2022
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
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13-12-2022
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
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