HM Revenue & Customs (HMRC) recently announced that Inheritance Tax (IHT) receipts were up by £200 million between April to July 2023, making this a record high.
Read More »Navigating estate planning and Inheritance Tax: what you need to know
For business owners, understanding depreciation is not just about accounting practices but also about handling their taxes efficiently. Read More »What tax implications can come with depreciation?
In December 2022, the plans for Making Tax Digital for Income Tax Self-Assessment changed again, as the Government announced that instead, MTD ITSA would be introduced in mandatory phases from 6 April 2026, as opposed to 2024.
Knowing your charity’s obligations to HM Revenue & Customs (HMRC) is important, as you will have different requirements to standard businesses.
Collections of Capital Gains Tax (CGT) reached a record £16.7 billion in the last tax year, a notable increase from the preceding year’s £14.3 billion.Read More »Capital Gains Tax for SMEs – Recent trends and compliance
Tax disputes can be a significant drain on resources for any business, and with recent data suggesting that over 60 per cent of businesses are currently embroiled in a tax dispute with HM Revenue & Customs (HMRC) that has lasted more than a year, this is clearly a widespread issue.
Read More »How businesses can navigate and avoid tax disputes with HMRC
Currently, if someone dies before the age of 75, their pension can be drawn out by beneficiaries’ tax-free, as it is exempt from Inheritance Tax and Income Tax if it is under the Lifetime Allowance (LTA).
Read More »Beneficiaries could see inherited pensions taxed as new proposals by HMRC are published
The Government has recently updated some elements of the Research and Development (R&D) tax relief application process.
Whether you’re the owner of a limited company or a sole trader, it is important to understand the expenses you can claim and the tax savings that these expenses bring.
Read More »What expenses can limited companies and sole traders claim?
Exiting a business is a significant milestone for any entrepreneur or business owner.
Read More »Exit strategies – What should you consider for when the time comes?
