Labour’s Autumn Budget is just around the corner (30 October) and many businesses are uncertain of what the next few years may hold for them. The Prime Minister Keir Starmer has already warned of a “painful” Budget, with big changes to taxation, funding for public services, and incentives for investment. For businesses, these changes can […]

Capital allowances are a great way to reduce your tax liabilities by claiming deductions on certain property-related expenses. They allow you to offset the cost of capital expenditure – plant, machinery and certain fixtures – against your taxable profits, especially if you have invested in commercial properties or made major improvements. Who is eligible to […]

As the Autumn Budget approaches, the Government has pledged that it will “make the tax system fairer” and avoid raising taxes on working people and certain businesses. The Government has said that it will not raise: Income Tax National Insurance (NI) Corporation Tax VAT While Corporation Tax is not levied on individuals, the fact that […]

For business owners and directors, dividends may form a critical element of your salary strategy and tax planning, keeping your tax liabilities to a minimum. To extract profit tax-efficiently from your business, you may use a combination of: Salary – Typically set at or around the Personal Allowance of £12,570 to minimise Income Tax and […]

As the Government seeks to plug certain gaps in the public purse, we are unlikely to see any change in Income Tax thresholds – despite wages and the State Pension rising. Under the previous Government, tax thresholds were frozen until March 2028, and it remains to be seen whether this will change under the Labour […]

Raising tax rates is a traditional government strategy to increase tax receipts for HMRC, but this may not be the case for capital gains tax (CGT). This is because taxpayers generally have more control over when gains are realised. The upcoming Budget at the end of October is widely expected to see a hike in […]