As the dark nights draw in, plenty of businesses are planning Christmas parties or staff celebrations. These are a great way to thank your team for their hard work and end the year on a high. Some of these events can be tax free if they meet HMRC’s criteria, while others may trigger a taxable …
Thinking about moving your business into a limited company? Incorporation can offer tax advantages, legal protection and a more professional image, but it also comes with upfront costs, administrative changes and potential tax traps. Below, we look at the key points to consider before making the switch. What does incorporation mean? The term incorporation usually refers to …
Self Assessment rarely makes it to the top of anyone’s to-do list. Deadlines creep up, paperwork hides in inboxes and the rules change just enough to cause confusion. The good news is that with a little planning you can file with confidence, avoid penalties and keep your tax bill accurate. SeavorChartered has pulled together a …
Thinking about getting a new company car or van? The rules around taxation, VAT, and purchase options can be more complicated than you might expect. In our latest podcast, we break down everything you need to know to make smart decisions and save money. In this episode, the team covers: Watch the full video here: …
Facing a personal tax compliance check from HM Revenue & Customs can be daunting, but it doesn’t have to be. Our latest newsletter is here to guide you through the process, ensuring you stay prepared, informed, and ready to handle any enquiries from HMRC with ease. From understanding what triggers a compliance check to knowing …
Planning how to pass on your wealth to future generations is an essential part of estate planning. One of the most effective ways to reduce inheritance tax (IHT) and ensure that more of your wealth reaches your loved ones is through tax-efficient gift-giving. In our latest newsletter, we delve into the opportunities available to individuals …
HMRC have extended the deadline for making voluntary National Insurance contributions (which can date back to 6 April 2006), to 31 July 2023. What is National Insurance? National Insurance is a tax paid by individuals who are employed or self-employed, based on how much they earn then determines how much National Insurance is contributed from …
A tax efficient salary and dividends are how many directors of owner managed businesses choose to pay themselves. Many directors structure their remuneration this way is to maximise tax efficiency by minimising the tax payable on the money they withdraw from their company. What’s the Most Tax Efficient Director’s Salary in 2021/22? Sole directors – …
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 …
The Chartered Institute of Taxation
The Association of Taxation Technicians
