August 31, 2023
The new company car advisory fuel rates (AFRs) published by HMRC take effect from 1 September 2023. The AFRs for journeys undertaken from 1 September are: After being…
August 16, 2023
Running a business in the leisure sector is all about bringing joy and relaxation to your customers. However, when it comes to tax, it’s essential to ensure your…
July 18, 2023
Our Taxation News – Summer 2023 edition explores a variety of matters, including tax planning for a future sale, the major changes to R&D compliance, succession planning options…
Read More...March 28, 2023
Our Taxation News – Spring 2023 edition explores the various changes coming into effect from April 2023 that may impact you and your business, including announcements made in…
Read More...March 16, 2023
We have put together a tax card with the tax rates for 2023/2024, which you can download as a PDF. If you would like a hard copy, please…
Read More...“Any individuals, including those who are self-employed, who are new to Self Assessment for the 2022 to 2023 tax year must register with HMRC by 5 October 2023 to avoid any fines.
You can register on GOV.UK and will then receive a Unique Taxpayer Reference, which you will need when completing your return.”
“Many personal tax payers have significant income, but have very little scope for reducing their personal tax burden.
With a careful use of pensions, Enterprise Investment Scheme (EIS) or other similar tax efficient investments, you could significantly reduce your tax bill whilst making savings.”
“Borrowing from your company can be an expensive business if you consider s455 tax on top of the Benefit in Kind that an overdrawn directors’ loan might create.
Have you considered ways of reducing that loan and therefore the tax impact?”