Provide additional information of R&D claims from 1 August 2023
The latest Finance Act includes two changes that will affect all R&D claims: (1) a requirement to provide additional information before an […]
Month: July 2023
Use Tax-Free Childcare account to pay for summer holiday clubs
Tax-Free Childcare accounts can be used to pay for approved childcare for children aged 11 or under, or 16 if the child […]
Planning a staff summer barbeque?
Employers may meet the cost of certain social events for staff without creating a tax liability. This used to be a concession […]
Rumours of the abolition of inheritance tax
There are rumours circulating in the press of the possible abolition of inheritance tax (IHT) in a bid by the Government to […]
HMRC raise interest rates again as base rate increases
HMRC interest rates are linked to the Bank of England base rate. Late payment interest is set at base rate plus 2.5%. […]
Diary of main tax events August/ September 2023
Date What’s Due 01/08 Corporation tax payment for year to 31/10/22 (unless quarterly instalments apply) 19/08 PAYE & NIC deductions, and CIS […]
TWP reminds business owners of tax obligations when planning exit strategies
Surrey-based accountancy firm TWP has urged business owners to consider the tax implications they may face when looking to sell their company. […]
Inflation and increased interest rates – What does it mean for businesses?
Office for National Statistics (ONS) data revealed that the Consumer Price Index (CPI) – the official measure of inflation – only fell […]
HMRC sets its sights on SMEs over UK tax gap
The tax gap in the UK – the difference between the amount of tax owed and the amount that has been paid […]
The hidden economy: What income should you declare?
The number of individuals participating in the UK’s ‘hidden economy’ is increasing according to recent research. A surge in additional income streams, […]
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