A Strategic Approach The concept of a circular economy (CE) has emerged as a groundbreaking model of production and consumption. It involves the shared responsibility of businesses in sharing, leasing, reusing, repairing, refurbishing, and recycling materials and products for as long as possible. This approach not only addresses pressing global…
What You Need To Know In response to the challenges posed by the COVID-19 pandemic, the Government introduced special provisions allowing those working from home to receive a tax-free allowance of £6 per week. This initiative provided significant relief to employees, enabling them to offset the additional costs associated with…
Unlock Substantial Tax Savings with this Little-Known Couples’ Financial Strategy Financial advisers have long been privy to a little-known tactic that could potentially save couples over £8,000 annually in taxes. This strategy involves transferring savings between partners, leveraging online calculators to determine the optimal amount to shift from the higher-earning…
The ultimate aim of every serious business person is to build a company that has value, so that it can be sold or transferred, allowing the entrepreneur to exit gracefully and profitably. Recently, we have been helping a number of our entrepreneur clients develop successful, tax efficient exit strategies. There…
Welcome to the October 2023 Tax Update. In this edition we take a look at Profit Forecasts, the Autumn Statement, Inheritance Tax, National Insurance Refunds; and this month’s events on the accounting horizon. If you need any help or advice on any of these topics, please do not hesitate to…
Welcome to the September 2023 Tax Update. In this edition we take a look Tax-Free Childcare Accounts, Child Benefits, changes to the R&D Relief Scheme, IHT on Pension Funds, and this month’s events on the accounting horizon. If you need any help or advice on any of these topics, please…
TAX ALERT! IF YOUR YEAR END IS NOT 31st MARCH HMRC will be changing the way they assess profits for sole traders and partnerships. One of the lesser published points is that everyone is going to have to have a 31st March/5th April year end – if your year-end is not already…
The Workplace Charging Scheme (WCS) is a voucher-based scheme that provides eligible businesses with support towards the upfront costs of the purchase and installation of electric vehicle (EV) charge points. All businesses can use it to help provision chargepoints for their staff or fleets. Charities and small accommodation businesses can…
Additional information required for Research & Development (R&D) claims The latest Finance Act includes two changes that will affect all R&D claims: A requirement to provide additional information before an R&D claim is made; and A requirement for certain companies to make a claim notification within six months after the end…
Taxpayers could take advantage of four key benefits when filing their tax return early, HM Revenue and Customs (HMRC) has stated. The Self-Assessment deadline for the 2022 to 2023 tax year is 31st January 2024. Taxpayers who file early will have more control over their financial affairs and beat the…