The value of technology – Why you should not rule out investment
Recent research by Three Business indicates that tech-enabled SMEs could add an impressive £79 billion to the UK economy over the next year. Technology is clearly a key driver and enabler of growth for businesses. Despite this, their research also
Employers squeezed as wages and National Insurance rise
In Chancellor Rachel Reeves’ 2024 Autumn Budget, she announced over £40 billion of tax increases, as the Government attempts to fill a £22 billion gap in public finances. The headline measure was a rise in employer National Insurance Contributions (NICs),
Capital Gains Tax is increasing – What does this mean for you?
Capital Gains Tax (CGT) was a significant target for the Chancellor in the Autumn Budget – with an immediate rise put in place for both the basic and higher rate of CGT. The basic rate paid by basic rate taxpayers
Bad debts on the rise – Time to crack down
As we approach the end of the year, one trend has become increasingly concerning for UK businesses – debts are on the rise. According to a recent report, small to medium-sized enterprises (SMEs) have seen the value of bad debt
Financial strategies for businesses facing labour shortages
Labour shortages, particularly in the hospitality sector, are creating significant challenges for many businesses this year. Managing your costs while trying to maintain service quality and customer relations can be a difficult balance. Given the difficulty in hiring sufficient staff,
Is it time to restructure your business?
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
Capital allowances for property owners explained
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
How to protect your business from Kittel VAT risks
Taxpayers have a fundamental right to reclaim input tax, also referred to as input VAT. However, HMRC has the authority to refuse this right under certain conditions if they can demonstrate that the taxpayer was aware, or should have been
Labour pledges to avoid raising taxes ‘on working people’
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
With Income Tax unlikely to change, is it worth altering your dividend-based salary strategy?
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 –
