We regularly write articles to keep you up to date with changes that affect your growing business.
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Businesses have been reminded of a change in a share option scheme that enables companies to attract and keep key staff by rewarding them with a share of the business. The Enterprise Management Incentive (EMI) offers generous tax incentives and can help smaller companies, who might not be able to match salaries paid by bigger
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New changes to the research and development (R&D) tax credits regime have been announced, with an estimated 90,000 companies benefiting. The changes will require people to apply for all reliefs online and pre-registration of claims irrespective of the company’s size. Launching on 1 April 2023, companies claiming R&D expenditure credit (RDEC) and SME R&D relief
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With the regulations surrounding Capital Gains Tax and property sales constantly shifting, many homeowners and their advisers may not realise that they owe tax on the disposal of a property. When a home is sold, there is usually no CGT due, but tax may be owed in some cases on the gains you have made.
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As the UK experiences unprecedented high temperatures, your tourism business may well be benefiting from increased sales. However, whilst ice creams are flying off the shelves a much bigger dilemma is presented… How can your business stop climate change? Whilst the Government has outlined its plan to be Net Zero by 2050, your business should
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The recruitment crisis across the country shows no sign of abating, according to a survey from a top business body. The worst-affected sector was construction, with 83 per cent of those surveyed reporting difficulties, with the logistics and hospitality areas not far behind on 79 per cent and 78 per cent respectively. Attempted recruitment in
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Unincorporated businesses, including sole traders, the self-employed and trading partnerships, will be taxed on profits generated in the 12 months to 5 April each year from 2024/25. This is a significant change to taxation, which removes the basis period rules and prevents the creation of further overlap relief in a new system known as the
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There seems little doubt now that the working from home phenomenon has become established. With a laptop, a phone and an internet connection, many tasks can be performed as adequately at home or elsewhere, as in an office. While returning to the office is a must for many, the recent rail strikes and surge in
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Thousands of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charges. According to HM Revenue & Customs (HMRC), a record 77,500 LISA savers were issued over £33 million worth of early withdrawal charges in 2021/22. Early withdrawal from LISAs attracts a 25
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Payments to support those struggling with the cost of living are starting to be paid into eight million people's accounts from today. The first instalment of £326 is aimed at those on a variety of benefits and tax credits. For low-income households on means-tested benefits, money will be automatically placed in their bank, building society
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More and more people are being drawn into paying Inheritance Tax (IHT), as the price of property soars. This is because former Chancellor Rishi Sunak froze the nil rate thresholds for paying the tax at £325,000 until 2026, while the value of homes has rocketed, potentially drawing more people into paying the tax. There are
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A new survey on Making Tax Digital (MTD) shows taxpayers have an alarming lack of readiness and enthusiasm for the changeover and a lack of awareness that MTD for Income Tax begins in less than two years. HM Revenue & Customs (HMRC) commissioned pollsters Ipsos to undertake new research to explore the preparedness of Income
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With the current labour shortage affecting pretty much all areas of the economy, taking on an apprentice could reap rewards for many businesses. There are many reasons why hiring an apprentice can benefit your business, but for hard-pressed employers, with a limited budget, the financial incentives offered by the Government are a major reason to
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