22-10-2024
Taxpayers have a fundamental right to reclaim input tax, also referred to as input VAT. However, HMRC has the authority to refuse this right under certain conditions if they can demonstrate that the taxpayer was aware, or should have been aware, that their transactions were linked to fraud. There has been a noticeable rise in
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22-10-2024
As the Autumn Budget approaches, the Government has pledged that it will “make the tax system fairer” and avoid raising taxes on working people and certain businesses. The Government has said that it will not raise: Income Tax National Insurance (NI) Corporation Tax VAT While Corporation Tax is not levied on individuals, the fact that
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22-10-2024
For business owners and directors, dividends may form a critical element of your salary strategy and tax planning, keeping your tax liabilities to a minimum. To extract profit tax-efficiently from your business, you may use a combination of: Salary – Typically set at or around the Personal Allowance of £12,570 to minimise Income Tax and
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22-10-2024
As the Government seeks to plug certain gaps in the public purse, we are unlikely to see any change in Income Tax thresholds – despite wages and the State Pension rising. Under the previous Government, tax thresholds were frozen until March 2028, and it remains to be seen whether this will change under the Labour
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22-10-2024
Labour shortages, particularly in the hospitality sector, are creating significant challenges for many businesses this year. Managing your costs while trying to maintain service quality and customer relations can be a difficult balance. Given the difficulty in hiring sufficient staff, many of you will be investing in technology to increase your efficiency. Luckily, the Annual
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22-10-2024
Labour’s Autumn Budget is just around the corner (30 October) and many businesses are uncertain of what the next few years may hold for them. The Prime Minister Keir Starmer has already warned of a “painful” Budget, with big changes to taxation, funding for public services, and incentives for investment. For businesses, these changes can
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14-10-2024
Our Wilder Coe team were delighted to attend Stevenage Community Trust’s annual Dinner & Dance on Friday 4th October. The black-tie gala helps fundraise for local charities in and around Stevenage and surrounding villages with a silent auction and raffle. Faye Thompson, Head of Cloud Accounting said, “Our first appearance at the black-tie charity event
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01-10-2024
We are delighted to announce Charlotte Willmore and Mark Dawes stepped into new roles within our Partnership Team as of 1 October 2024. 🎉🥳 Charlotte commenced her journey with us as an AAT student in 2010, fresh out of school, and completing her ACA qualifications in October 2015. After leaving Wilder Coe briefly, Charlotte returned and
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01-10-2024
Did you know you can claim back 25p each time an individual donates £1 to your charity? This is Gift Aid. The Charity Finance Group and their #TickTheBox campaign provide opportunities for UK charities to increase engagement with Gift Aid. Government figures released in July 2023 showed that the amount of Gift Aid claimed had
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12-09-2024
HMRC has begun to issue ‘nudge letters’ to cryptoasset owners who may have underpaid tax when selling their assets, urging them to amend or submit a tax return. In this rapidly evolving sector, asset holders are not always clear on what income or profit generates a tax liability. This follows the introduction of CARF –
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12-09-2024
Having the right team that aligns with your goals and values is key to the success of your business. However, many sectors are currently facing a skills and staffing shortage. Government data shows that over one-third of vacancies were skills-shortage related, with around a quarter of all employers having at least one vacancy within their
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12-09-2024
Your environmental, social and governance (ESG) strategy might just pave the way to growth for your business. ESG initiatives are increasingly important for businesses in terms of client values and acting ethically. However, tracking and reporting on ESG objectives may also be the key to achieving efficiency and optimised business performance – crucial drivers of
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The Changing Landscape of Commercial Dispute Resolution and Expert Determination
The Changing Landscape of Commercial Dispute Resolution and Expert Determination The landscape of commercial dispute resolution has changed a lot over time. Historically, and particularly, the Institute of Chartered Accountants in England and Wales (ICAEW) played a relatively central role in helping parties unable to agree on their neutral dispute resolver, find independent accountant experts […]
