New measures affecting pension allowances announced in the March Budget could mean your retirement planning strategy needs to be reviewed.

Read more

Undertaking a business reorganisation can be used to split off parts of your business and can help to minimise risk, prepare for sale and create efficiencies.

Read more

A new points-based penalties regime will impact businesses who submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the penalties were those due by 7 March 2023. The new late payment penalties and points-based late submission penalties were introduced from 1 January 2023, replacing the VAT default surcharge, and apply to accounting periods […]

Read more

If your employer pays for the fuel in your company cars, it may cost you more than you expected.As the Autumn Statement was not a Budget, detailed publications that would normally emerge as the Chancellor sat down have taken time to appear. For example, the HMRC projections of how many more capital gains tax (CGT) […]

Read more

Owner-managers have historically benefited by withdrawing profits by way of dividends, rather than taking director’s remuneration, due to the national insurance contribution (NIC) saving. However, tax changes taking effect from April 2023 will mean this approach may no longer be such an attractive option. From 1 April 2023, the current 19% rate of corporation tax […]

Read more

The 9.7% uplift to the National Living Wage from April 2023 should be welcome news for lower-paid workers, but could present problems if their employer simply cannot afford the increased cost of employing them. The cost of living crisis is impacting many businesses, especially those in the hospitality sector. Some will cope with rising employment […]

Read more

Small company owners should by now be aware of the corporation tax changes taking effect from 1 April 2023, but with the associated company rules changing at the same time, don’t be caught off guard. From 1 April 2023, there will be two rates of corporation tax: Where profits are between £50,000 and £250,000, marginal […]

Read more

With today’s highly competitive recruitment market, creating a comprehensive employee retention strategy is becoming more important to companies in all sectors. An employee retention strategy will help your company to reduce employee turnover, ensure an engaged workforce and attract and retain top talent. A clear strategy will consist of programmes and policies that improve employee […]

Read more

For owner-managed companies, bonuses, dividends and remuneration will become yet more complex in the new tax year. With the corporation tax increase and dividend rates now confirmed by the Government, the dividend vs remuneration decision for owner-managed companies is likely to become more complicated in 2023/24, particularly when it comes to bonuses. Historically, it was […]

Read more

I am pleased to attach our summary of the Autumn Statement 2022 which was delivered on Thursday 17 November.  As you will be aware, the Chancellor, Jeremy Hunt, was faced with a challenging economic backdrop to his first major set piece, grappling with a combination of over 11% inflation, an official recession and the need […]

Read more

In this year alone, the UK has seen the pound devalued by over 25% against the US dollar, forcing businesses exposed to overseas supply chains to re-budget and reforecast, often resulting in notable price increases for customers. To give some further context to these changes, a UK business with a requirement to purchase $1,000,000 per […]

Read more

For owner-managed companies, bonuses, dividends and remuneration will become yet more complex in the new tax year. With the corporation tax increase and dividend rates now confirmed by the Government, the dividend vs remuneration decision for owner-managed companies is likely to become more complicated in 2023/24, particularly when it comes to bonuses. Historically, it was […]

Read more