Business Guides

The Chartered Institute of Taxation (CIOT) is warning that HMRC’s efforts to tackle abuse of the R&D tax relief system are resulting in them rejecting legitimate claims and stone-walling others. In a letter to HMRC, the CIOT wrote that the ‘volume compliance’...

On the evening of Monday 10 July 2023, Chancellor Jeremy Hunt delivered a speech at Mansion House in the City of London which he framed as “looking further ahead”, rather than just dealing with the immediate inflationary issues the country faces. “I want to lay out...

In today’s fast-paced and competitive business environment, having the right tools and systems in place is crucial for success. However, one tool that sometimes gets overlooked is accounting software, which can help you manage your finances more effectively, save time...

Taxpayers hoping to contact HMRC for help with their selfassessment will now have to use digital services until 4 September 2023. During this time, HMRC says it will trial prioritising online guidance, digital assistance and web chat. According to HMRC, the...

We’ve over halfway through 2023, so now is the opportune moment to review your business and progress for the year. Chances are, it’s been a tough year so far: in the 12 months to May 2023, the consumer prices index of inflation rose by 8.7% and the bank rate is 5%. A...

According to data from Companies House, 222,068 new companies were set up in the UK within the first 12 weeks of 2023, a year-on-year rise of 8.2%. The question remains: “how unique are these businesses?” It might seem safest to stick to tried and tested methods when...

The law currently treats many of these transactions as disposals for tax purposes. This usually triggers a capital gains tax (CGT) charge, despite the owner still having an economic interest in the asset. According to industry representatives and tax professionals,...

Investments, always subject to a variety of risks that can impact their value, are never safe. For example, the value of your investment could decline due to the performance of the company you invested in. If you hold fixed-rate bonds, a spike in interest rates could...

As an employer, there are many ways you can reward and incentivise your staff, from Christmas parties to team lunches. But one of the most attractive options is an employee share scheme. Employee share schemes allow you to give some (or all) of your employees a stake...

HMRC RELEASES GUIDANCE ON LTA ABOLITION HMRC has released guidance clarifying how it will phase in the abolition of the lifetime allowance (LTA) for pensions. DIGITAL SERVICE TAX COULD BECOME PERMANENT A new report from the Public Accounts Committee (PAC) warns that...