When it comes to retirement planning, one group that often finds itself at a disadvantage is the self-employed. Unlike their counterparts in traditional employment, self-employed individuals face unique challenges in setting up adequate pension arrangements. During the cost-of-living crisis, many are choosing to reduce private pension savings to meet everyday expenses. With more people choosing […]
The level of risk you are willing to take on when saving and investing can have a significant impact on the returns you achieve. While common sense would suggest that challenging periods, such as the kind that we face now, are the right time to de-risk your portfolio, many choose not to. Inflation and economic […]
With all of the changes to personal pensions in the Spring Budget, maximising the State Pension entitlement should not be overlooked. The full rate of new State Pension increased to £203.85 per week (£10,600 pa) from 6 April 2023; a 10.1% increase over the 2022/23 rate as a result of the “triple lock” being restored. […]
In the Spring Budget the Chancellor announced that “full expensing” – 100% relief for new, eligible plant and machinery – would replace the 130% super-deduction from 1 April 2023 for limited companies. This is in addition to the £1 million annual investment allowance (AIA) and will be available for expenditure incurred up to 31 March […]
The VAT Flat Rate scheme was introduced in 2002 to simplify VAT reporting for small traders, reducing the time taken to calculate VAT and prepare returns compared to normal VAT accounting. The thresholds for using (£150,000 pa) and exiting the scheme (£230,000 pa) have not changed since 2003. With the extension of Making Tax Digital […]
During the COVID pandemic the government relaxed the conditions to enable those working from home to be paid £6 a week tax free by their employer, or, where that was not paid by the employer, they could claim relief for £6 a week against their employment income for a tax refund from HMRC. Those relaxed […]
HMRC frequently warn taxpayers that when a tax avoidance scheme looks “too good to be true”, it probably is. They publish “Spotlights” on their website to alert taxpayers of schemes being marketed by promoters that are under scrutiny, and, in their opinion, do not work. Tax avoidance schemes need to be notified to HMRC under […]
Date What’s Due 01/07 Corporation tax payment for year to 30/9/22 (unless quarterly instalments apply). 05/07 Last date for agreeing PAYE settlement agreements for 2022/23 employee benefits. 05/07 Deadline for agents and tenants to submit returns of rent paid to non-resident landlords and tax deducted for 2022/23. 06/07 Deadline for forms P11D and P11D(b) for […]
As members of The Corporate Finance Network, we have access to a large amount of market and deals data. We have recently commissioned this report about the Recruitment sector and hope you find it interesting reading. We continue to see more companies request support with exit planning and buy or sell transactions, we are always […]
As members of The Corporate Finance Network, we have access to a large amount of market and deals data. We have recently commissioned this report about the Managed IT Services Industry and hope you find it interesting reading. We continue to see more companies request support with exit planning and buy or sell transactions, we […]
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