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 […]
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 […]
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 […]
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 […]
Research & Development Tax Credits – HMRC’s latest move of the ‘goal-posts’
HMRC released their latest amendments to the Research & Development Tax Credits scheme in July, via the draft Finance Bill 2022-23. These changes affect both the Small or Medium Enterprise (SME) and Research & Development Expenditure Credit (RDEC) scheme. Many of these amendments were brought to light within the Autumn 2021 budget, including: Allowing cloud […]
Although showing a slight improvement from March, the number of company insolvencies in April of this year was more than double the number from April 2021. This shows just how important it is to get advice sooner rather than later if your company is experiencing problems. The majority of insolvencies were creditors’ voluntary liquidations (CVLs): […]
New data from HMRC reveals there are now over six million people paying higher or additional rate tax in the UK. Source: HMRC. In recent years, the end of June has been the time for HMRC to issue its annual statistics on taxpayer numbers. This series is more up to date than some of HMRC’s […]
Owning and running a business with a multi-generational workforce can be complicated. It’s possible that in your business, you could have four or five different generations working. From the traditionalists to baby boomers, through Gen X and millennials, to Gen Z. It is important in order to recruit and retain the best talent that you […]
Many businesses have unidentified risks that ultimately affect the company value when the business is sold. Minimising risk and increasing business value isn’t something that can be tackled overnight. You need a long-term plan that works through the lifecycle of your business to tackle these risks. If you haven’t yet identified all the areas of risk in […]
For anyone starting a new role in your company, first impressions matter. Last month we wrote a blog about recruitment in this competitive market. This month, we are focusing on why employment contracts, induction and training are important. These three things can make your team feel valued, help you get the best out of your employees […]
Planes, trains and automobiles – managing employees transport challenges
With strikes and cancellations affecting trains, the underground and flights, employers need to decide how they are going to treat employees who cannot get into work or are stuck overseas. Below we explain how to help with managing employees transport challenges. Commuting Although inconvenient, there is generally plenty of notice when it comes to train, […]
Many businesses can hit a profit plateau at different stages of their growth and business lifecycle. As a business owner, working out how to break through a profit plateau and increase profits ongoing can be tough. Expecting constant growth and growing profit margins continually may not be sustainable. For business owners working out in their […]
