Welcome to the June 2026 Tax Update. In this issue we take a look at tax-free mileage rates, temporary reduced rate of VAT, dividends, a Research & Development update, employment rules and upcoming dates on the Accounting Horizon. GREAT BRITISH SUMMER SAVINGS On 21 May 2026, the Chancellor, Rachel Reeves…
HMRC introduces targeted advance assurance service for R&D claims Originally proposed in last autumn’s Budget, HM Revenue & Customs (HMRC) have introduced a targeted advance assurance service for Research and Development (R&D) tax relief claims. The service, which is a pilot, aims to provide businesses with clarity on complex or…
New R&D tax relief guidance available For accounting periods beginning on or after 1st April 2024, a new merged scheme for research and development tax credit comes into force. The new merged scheme replaces the old RDEC and small and medium-sized enterprise (SME) schemes. The new scheme reduces the amount…
Welcome to our April Tax Update In this edition we take a look at the changes for the new tax year, child benefit claims, cash accounting, changes to the Basis of Assessment, Making Tax Digital, holiday lettings, capital allowances and R&D. HAPPY NEW TAX YEAR! In this April issue we…
Maximising benefits for your business We are now within the final two months of the tax year, and for many businesses, the end of the tax year is also the end of the business’s financial year. This can be a good time to review your business tax planning to ensure…
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…
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…
Welcome to the August 2023 Tax Update. In this edition we take a look the additional information required for R&D claims, Tax-Free Childcare Accounts, Company BBQs, Inheritance Tax, HMRC’s further interest rate rises, and this month’s events on the accounting horizon. If you need any help or advice on any…
Welcome to the March 2023 Tax Update! In this edition we look ahead to the Spring Budget, ‘nudge’ letters from HMRC about R&D claims, penalties for errors in tax submissions, the updated advisory fuel rates for company cars and key dates on the Accounting Horizon. Will the Spring Budget Stimulate…
Welcome to the February 2023 Tax Update! In this edition we look at the delay to Making Tax Digital – again! The new VAT penalty regime, 130% Super Deduction ending soon, changes to R&D this April and key dates on the Accounting Horizon. Making Tax Digital for Income Tax Delayed…