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Social Commerce

Harnessing the power of social media to sell your products or services online. Social Commerce involves using platforms such as Twitter, Instagram or Facebook as vehicles to sell products and services. Embracing digital marketing to the extent that the entire shopping experience, from product discovery and research through to the buying and checkout process all […]

Read more November 19th, 2021

Increasing Prices

How can you raise your prices without losing too many customers? The current business environment is incredibly competitive but as we emerge from the pandemic, consumer demand is increasing and many sectors have seen labour and material costs rise. As demand increases and levels of supply fall, businesses have an opportunity to increase their prices. […]

Read more November 18th, 2021

What Makes A Good Business Leader?

There is no recipe for good leadership so how do you go about becoming a really great business leader? The best leaders in business are those that have attributes including vision, courage, integrity and focus combined with the ability to develop and implement an effective strategy for the business. In today’s complex trading environment, indecisiveness […]

Read more November 17th, 2021

Budgeting For An Uncertain Year Ahead

As we come to the end of 2021, it’s time to start thinking about the budget for next year. One thing is certain – uncertainty. Business planning and budgeting have become increasingly complex in today’s uncertain and volatile environment. Firms have had to adapt and become more agile in order to react quickly to changing […]

Read more November 15th, 2021

Becoming A More Eco-Friendly Business

Environmental sustainability has moved to the forefront of the news headlines and consumers are keen to support eco-friendly businesses. Buying habits are changing as people seek to minimise their impact on the natural environment. By incorporating eco-friendly ideas into your business, you can align your brand’s ethos with that of your customer base. If you […]

Read more November 11th, 2021

New Residential Developer Tax

From 1 April 2022 the Government will introduce a new tax on company profits derived from larger UK residential property developers. The tax will be charged at 4% on profits exceeding an annual allowance of £25 million and will be included in the corporation tax returns of those companies liable to the new tax.

Read more November 8th, 2021

Cultural Tax Relief Doubled

Eligible companies engaged in the production of qualifying theatrical productions, orchestral concerts, and museum and gallery exhibitions are currently able to claim an additional deduction in arriving at their profits. Where that additional deduction results in a loss, the company may surrender those losses for a payable tax credit similar to R&D tax relief. The […]

Read more November 4th, 2021

More Time To Report And Pay CGT On Residential Property

Many were expecting big changes to Capital Gains Tax (CGT) in the Autumn Budget, particularly as the Office of Tax Simplification (OTS) had suggested that CGT rates should be aligned with income tax rates. The Government have however taken on board the OTS recommendation that the 30 day reporting and payment deadline should be increased […]

Read more November 3rd, 2021

Business Rates Made “Fairer” For Retail And Hospitality

The Government continue to promise a fairer system of Business Rates and will provide new reliefs for investment and improvements to business premises. In order to support businesses and jobs in the retail, hospitality and leisure sectors, the chancellor announced a 50% discount in business rates up to £110,000. High Street businesses still operate at […]

Read more November 2nd, 2021

“Temporary” Annual Investment Allowance Extended

Businesses investing in plant and machinery will welcome yet another extension in the 100% Annual Investment Allowance (AIA) until 31 March 2023. The 100% relief was scheduled to revert to £200,000 on 1 January 2022. This deduction is available to unincorporated businesses as well as limited companies and the equipment does not have to be […]

Read more November 2nd, 2021

No Changes To Income Tax Rates

The basic rate of income tax and higher rate remain at 20% and 40% respectively, and the 45% additional rate continues to apply to income over £150,000. As previously announced in the March Budget, the personal allowance and higher rate threshold have been frozen at £12,570 and £50,270 until 2025/26. As announced on 7 September, […]

Read more November 2nd, 2021

National Insurance Thresholds Changing

The 1.25% increase in the rate of National Insurance Contributions (NICs) paid by workers and employers announced on 7 September to provide extra funds for Health and Social care will go ahead from 6 April 2022. This will become a new Health and Social Care Levy from 2023/24 onwards. Although the income tax personal allowance […]

Read more November 2nd, 2021

Pension Tax Relief Unchanged

There was much speculation that the Chancellor would restrict the tax relief for saving into a pension to basic rate only. Thankfully that has not happened (yet) and the key limits are unchanged. The annual pension input limit for most taxpayers remains at £40,000 which covers both individual and employer contributions. The lifetime pension allowance […]

Read more November 1st, 2021

National Minimum Wage April 2022

National Minimum Wage (NMW) and National Living Wages (NLW) increased from 1 April 2022. Please see the table below for the new rates: Employers should review the ages of employees to ensure they are paid the correct gross pay when carrying out your payroll procedures. At Shapcotts we check an employee’s age as part of […]

Read more November 1st, 2021