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...
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...
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...
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...
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...
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...
If your only income is from employment, your tax payments are pretty straightforward. But if you have other sources of income – things like dividends, self-employment or property rental – your tax affairs can get a bit more complicated. Under the self-assessment...
