06-02-2023
Why do I need a business plan? Your business plan delivers the goals to work towards, helps you identify potential pitfalls, gives insight into your competitors and highlights possible opportunities. A great business plan should include a concept, strategy, executive summary, market analysis, competitor analysis, the company's financials and a clear action plan. What is
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06-02-2023
Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) comes into effect from April 2026 for businesses, self-employed individuals, and landlords with gross business or property income over £50,000. MTD for ITSA will follow in April 2027 for those with similar incomes over £30,000. The question? How soon should your business use cloud-based compatible software
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06-02-2023
With the end of the tax year fast approaching (5 April), you should assess your current tax situation and utilise the reliefs and allowances available. Here are a few tax quick wins you can consider to help reduce your liabilities now and in the future: Inheritance Tax (IHT) Each tax year, individuals can give away
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06-02-2023
With the Spring Budget looming in March, it is easily tempting to delay tax planning until afterwards in hopes of favourable tax cuts. However, the Chancellor has made it clear that significant cuts to taxation are not likely to be in his speech. So businesses should prepare for the changes introduced in the months ahead.
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24-01-2023
In August 2013, Daniel Proctor interviewed for Wilder Coe’s audit trainee programme after being introduced through the HAT Group. Now, nearly a decade later, Daniel has returned to where it all began as our newest Audit Manager. After graduating from the University of Surrey with a first-class degree in Economics, the appeal of accountancy and
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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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Matrimonial Disputes & Tax Our specialist tax Partners, working alongside our Forensic team, provide independent expert advice and expert witness evidence on complex tax matters arising in matrimonial and family law disputes. We are appointed by applicants, respondents, jointly by parties, and by legal advisers, to support negotiations, mediation, other ADR proceedings, and family court […]
