The festive season is approaching and many Limited Company directors are starting to prepare for their yearly celebrations. Fortunately, HMRC recognises staff entertainment as a valid business expense, but your festivities need to follow certain rules to qualify for tax and National Insurance exemption. What are the rules? To be [...]
What’s the difference between my personal bank account and a business bank account? When you set up a business it’s a great idea to get a separate business bank account set up. Your business and personal affairs, including finances, are kept completely separate, and having a business bank account [...]
In recent years, electric cars have become increasingly common on our roads. Charging points are now a familiar sight in supermarket and office car parks, as well as private driveways. And with Government targets for all cars to be hybrid or electric by 2030 and 100% electric by 2035, it [...]
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion transformation of capital allowances from April this year, which will [...]
The increase in Corporation Tax in April 2023 was announced back in the March 2021 Budget, but what does this mean for small business owners? In this blog we explore what’s going to change, what you need to be aware of, and how to prepare. First things first – what [...]
Since the reversal of Liz Truss’s tax policy changes last month, new PM Rishi Sunak and Chancellor Jeremy Hunt have promised a new statement, concluding that now is the right time to proceed with a package of tax cuts. In today’s statement there was a focus on energy prices & [...]
Jeremy Hunt, The Chancellor of the Exchequer, has today scrapped the majority of tax cut plans that were announced in the government's ‘growth plan’ mini-budget by Kwasi Kwarteng on 22 September 2022. As part of his ‘Growth Plan’, Kwarteng had set out a number of tax cuts designed to support [...]
The mini budget – an overview The (not so) mini-budget delivered by new Chancellor, Kwasi Kwarteng last Friday, had a lot more in it than anyone expected, and lots of great news for small businesses. Here are the headlines: Corporation Tax planned increase from 19% to 25% has been scrapped [...]
If you’re new to the world of buy-to-let there’s a number of things to consider before you’re ready to hand over the keys. From renting a second / third / fourth / etc property as either a handy passive income, or saving towards a portfolio to fund your future plans, [...]
As we steam ahead into the summer months it can be easy to focus on your business making money, rather than what your business needs to be doing in the background. One of those is to focus on tax, to ensure your money is working as hard as it possibly [...]