Wishing all of our clients a restful and happy Christmas, and a healthy and prosperous New Year.
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Run Rudolph Run
Christmas is just around the corner. And – just beyond – is the deadline for filing your 2023-24 self-assessment tax return.
It must be with HMRC by 31 January 2025, but if you haven’t got round to completing it yet, or are concerned about a large liability – don’t worry! You are not alone, and we might be able to help. We might even be able to reduce your liability with some tax planning suggestions.
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A time for giving… a time for getting
The tree is up, the jumpers are festive, and we are starting to turn our thoughts to Christmas once again!
There are many ways to reward employees in a tax efficient way, and even though some of these can be complex, there are other ways of providing tax efficient or tax-free benefits which are very simple.
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Are you gonna go my way?
There has been plenty in the news over the past year in relation to HMRC clamping down on R&D reliefs available for companies and subsequently increasing the number of enquiries which have been launched.
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That ain’t workin’, that’s the way you do it
The new Chancellor of the Exchequer, Rachel Reeves, has delivered the Labour government’s first budget since being elected earlier this year. Unveiling her plans, the Chancellor spoke of the need to “restore stability” to the economy and “deliver change” with an “economy that is growing”.
We have picked out some of the key announcements that may be of interest.
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When the going gets tough
With much talk and speculation about what will be announced in the Budget at the end of October, we take a look at some of the changes that might be afoot.
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Wake me up when September ends
Many of our corporate clients have either just passed, or are approaching, another financial year end. And – for some –that means a period of much more intensive work than usual, particularly if they have a small finance team or have multiple compliance obligations because of a more complicated group structure. This is where we come in.
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Don’t stop believing
With much in the media about exploitation of HMRC’s R&D scheme and increases in R&D claim enquiries, we reflect on why this shouldn’t be off-putting to clients who are considering making a claim.
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Let it go
Amidst uncertainty around the Budget announcements, one change that has been confirmed is the Government’s intention to repeal the special tax rules relating to the commercial letting of Furnished Holiday Lets.
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What do I do now?
Ordering a coffee used to be a simple process, with the choices limited: “Would you like milk and sugar?” Now, visiting a coffee shop presents an array of options – caffeinated, decaffeinated, americano, latte, cappuccino, espresso, soy milk, oat milk, syrup? Many people know what they want when they get to the counter, but if you aren’t sure, then too many alternatives can lead to almost paralysing indecision, and leave you mumbling, “I’ll have a cup of tea please.”
One of the most common questions we are asked is ‘what is the best way to start trading?’ and whether this should this be through a company, as a sole trader, or a partnership.
Grab yourself a coffee and have a read of our blog where we lay out the similarities and differences between the options.
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