Choosing the best business structure for your business is one of the first and most important decisions you will make. It impacts everything from your tax obligations to the level of personal liability and even your ability to raise funds. Your choice of structure also has long-term implications for your growth potential, compliance responsibilities, and …
Today, Thursday 2 February 2023, The Bank of England have again increased interest rates, this time to 4%. Another milestone of the highest rates in 15 years. Chancellor Jeremy Hunt stated, “Inflation is a stealth tax that is the biggest threat to living standards in a generation, so we support the Bank’s action today so …
What has the government announced? Earlier this week, the government announced there will be a new energy discount scheme for businesses, charities, and the public sector ahead of the current scheme ending in March. The new scheme will mean all eligible UK businesses and other non-domestic energy users will receive a discount on high energy …
Recession is looming, with even bleaker news of an unsteady government. Conservative or Labour, we’re facing unprecedented times regarding our finances heading into the winter months. Business Savings With the increase in energy costs, fuel and borrowing it may seem a daunting time to be a business owner. Below are a few ways in which …
What is Cloud Accounting Software and what are the benefits? Cloud Accounting Software is fast becoming the future. Even for small businesses, Cloud Accounting Software such as Xero can help keep you on top of your accounts ahead of your annual accounts meeting. Xero runs daily online backups of your business information, meaning there’s no …
The Super Deduction – a new enhanced tax relief for companies introduced from 1 April 2021. The Super Deduction introduced 1 April 2021 until the end of March 2023 enables companies to claim 130% tax relief (through capital allowance) on qualifying plant and machinery expenditure. This is exciting news as it offers a significant tax …
The Chancellor Rishi Sunak delivered his budget on 3 March 2021 setting out the road to recovery for the UK post COVID-19. The budget included a number of announcements of additional support including an extension to furlough, further grants and an extension to the reduced VAT rate for hospitality and tourism businesses to name a …
Like many businesses Coronavirus has had a significant impact on our business and our way of working. Since the outbreak of the pandemic our team have been home working successfully with only a couple of members of the team in the office at anyone time. The team has communicated using Microsoft Teams and Zoom for …
The Bounce Bank Loan Scheme is one of a number of government-backed lending schemes designed to support businesses affected by Coronavirus. Lending through the Bounce Back Loan scheme is capped at £50,000 and is 100% government backed initiative for small businesses. You can apply for a loan between £2,000 and £50,000 up to a maximum …
The Scottish Government have announced further Coronavirus funding for those who have recently started in self employment and have not been able to benefit from the other available Coronavirus business support schemes. If you live in Scotland and have started in self employment from 6 April 2019 onwards, you may be able to receive a …
The Chartered Institute of Taxation
The Association of Taxation Technicians
