Whether you are starting out or well established, we can guide and plan your growth alongside VAT responsibilities.
The end of the ‘Super-Deduction’
With a key tax relief coming to an end on 31 March 2023, there is still time to take advantage so that your company doesn’t lose out on valuable tax reliefs. What is the Super-deduction? Introduced in 2021 to boost investment and kick-start the economy following the...
Tax for Small Landlords
Renting out a property can be a great way to earn some extra income, but residential and commercial landlords should make sure that they are aware of the tax implications and make sure that they get things right. Landlords who are not operating their business through...
The MTD Delay
Making Tax Digital (MTD) for Income Tax has now been delayed, as was widely expected, meaning that it will now not come into force until April 2026. Victoria Atkins, the Financial Secretary to the Treasury, announced in December that the scheme will be pushed back by...
VAT Penalties are Changing
For all VAT accounting periods starting on or after 1 January 2023, the way that HMRC charges penalties and interest on late VAT payments and returns is changing. The old default surcharge system, where a default percentage of the late VAT amount was levied on day one...
Scottish Government Budget
On Thursday, Finance Secretary John Swinney set out the details of the Scottish Government’s tax and spending plans for the upcoming financial year 2023/24. This follows the UK Government’s Autumn Statement, where the UK Government Chancellor Jeremy Hunt announced the...
Corporation Tax – What is it and do I need to pay it?
On 17 November 2022, the UK Government Chancellor, Jeremy Hunt, confirmed that the planned rise in corporation tax will go ahead on 1 April 2023. This means what the rate of corporation tax will increase to 25% for profits for the financial year 2023-24. But it’s not...
Self-Assessment Deadline – Are You Prepared?
With under 60 days until the self-assessment deadline, are your tax affairs in order? The deadline for online submission of self-assessment tax returns for individuals and sole traders is 31 January 2023. This applies to all sole traders, company directors and...
Autumn Statement 17 November 2022
The UK Government’s Chancellor, Jeremy Hunt, has set out in his Autumn Statement measures that he views will bring under control inflation and growth of the economy. He described the measures a method to make the downturn caused by inflation “shallower”. The...
Choosing a Business Structure: Sole Trader
Choosing which type of business structure to operate can be confusing and difficult. In this series of articles, we look at the pros and cons of each structure to help you decide which one is best for you A sole trader is the simplest type of business structure. This...
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