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Returning Employees

Returning employees, workers who decided to leave their employers and take on a new job elsewhere, only to return to their former employer sometime later. A lot has been written about the great resignation – where one in four UK employees have recently changed job or they are thinking about doing so. The great resignation […]

Read more December 17th, 2021

Time For A Real Christmas Party?

Last year many businesses put on a “virtual” Christmas party event and HMRC agreed that would be acceptable in order for there to be no taxable benefit for the employees involved. There continues to be no taxable benefit for employees provided that all staff are invited, and the cost does not exceed £150 a head, […]

Read more December 9th, 2021

Trust Planning Opportunities

Despite rumours that the tax planning strategy would be closed in the Budget, the Capital Gains Tax (CGT) hold over relief when assets are transferred into or out of a trust is still available. This relief currently enables a non-business asset, such as an investment property, to be transferred without paying CGT. The relief applies […]

Read more December 8th, 2021

Advisory Fuel Rates For Company Cars December 2021

HMRC have again increased the advisory fuel rates that apply for the reimbursement of employees’ private fuel for their company cars. The new rates apply from 1 December 2021, but you can continue to use the previous rates for up to 1 month from the date the new rates apply. Where there has been a […]

Read more December 7th, 2021

Reporting CJRS Furlough Grants

The latest version of the CT600 Corporation Tax Return requires companies to report CJRS furlough grant payments received and the amounts that the company was entitled to during the period. Where any overpayments have already been disclosed to HMRC that amount should be reported. The total amount overclaimed should then be entered in box 526. […]

Read more December 6th, 2021

No Change To Christmas Gift Tax

Many were expecting the chancellor to announce changes to Inheritance Tax (IHT) in his Autumn Budget. However, like Capital Gains Tax (CGT), the rules have remained broadly the same as last year. That means that each tax year individuals may make gifts of up to £3,000 in total and that amount is not included in […]

Read more December 6th, 2021

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