Business Asset Disposal Relief – Issues for Professional Practices
The decision reported in December 2021 of Thomson v HMRC shows the extreme care that needs to be taken when seeking relief under business asset disposal relief (BADR) and the potentially capricious nature of the relief. It offers perhaps a glimmer of hope, in that the...
Tax Planning for the Year Ahead
The first in our short series of Tax Tips looks at Income Tax The Details The tax free personal allowance for 2022/2023 is £12,570, this is frozen until April 2026. The next £37,700 is taxed at the basic rate of 20% (7.5% for dividend income). Higher rate tax of 40%...
What is a Company Share Ownership Plan?
Employee engagement is a much discussed topic in the business community for a good reason. Your employees are the lifeblood of your business and losing key employees or not attracting new talent can cause significant disruption and financial loss. There are many ways...
April 2022: New Changes for Business
Since April 2019, businesses with a turnover over the £85,000 VAT threshold have been required to submit their returns using compatible software. From this April, VAT-registered businesses with a turnover below this amount will need to do the same. National Insurance...