Changes to Corporation Tax from April 23
Did you know that the UK corporation tax rates are changed from April 2023? From 1 April 2023, the rate of corporation tax changes from 19% to a variable rate between 19% to 25%, depending on the profits made by your business. This could mean a change to what you will...
Company Year End Preparations – Time To Get Ready
As your company year-end date gets closer, there are a number of administrative and financial tasks to start planning for – so it’s a good idea to get yourself organised and ready. There are several things to check, either on the year-end date, or before the end of...
Understanding Your Breakeven Point
Do you know your business breakeven point? Knowing how much income you must generate to cover all fixed and variable costs means you can make better business plans and financial decisions for long-term sustainability and profit.
Jeremy Hunt’s Autumn statement – 2022
In his opening remarks, Jeremy Hunt said his priorities are stability, growth and public services. Stability - Stability is about reassuring the market. The Chancellor announced the following new, ‘fiscal rules’ that public sector debt must be falling as a percentage...
Business tips: Making the most of digital and cloud
Transforming into a digital business sets the best possible infrastructure for your future growth. And, as your business scales, the benefits of going digital will start to become obvious. Running your key business processes in the cloud and using the latest digital...
Tax planning in uncertain times – why we need to talk about tax
We live in what might be seen as ‘interesting times’. UK politics is going through a turbulent and unpredictable time at present, leading to unforeseen changes to tax legislation, business reliefs and enterprise incentives across the board. When the goalposts keep...
Are employee parties tax-free?
If the rules around social functions are followed, staff events like your end-of-year party, or your summer barbecue are tax-deductible for you, as the employer, and tax-free for your staff. This means you can claim back some of the expenses you incur when putting on...
What counts as a ‘trivial gift’?
Giving occasional gifts to your staff is a great way to keep them engaged and motivated. But how much can you give before these gifts become taxable? Certain lower-value gifts can be given to employees (including directors) tax free. These have to be classed as...
How to improve your year-end processes and plan for 2023
We're well into the final quarter of the year, with 2023 just a few months around the corner. But are you ready for the year-end? And have you done your homework when it comes to planning your business journey for 2023 and beyond? Let's take a look at the key ways to...
