Tax Advice

As the summer holidays progress, many business-owning parents face the annual challenge of keeping their children occupied. One productive — and often overlooked — option is involving your child in your business in a legitimate, structured way. Can My Child Legally Work in My Business? Children aged 13 and over can legally undertake part-time work […]

As we approach the end of the tax year, it’s important you’re fully utilising the available tax reliefs. Here are four key areas to consider before the year-end:  If you have any questions or would like assistance in ensuring you’re making the most of these tax-saving opportunities, please don’t hesitate to reach out.

The recent Budget introduced significant changes to Capital Gains Tax (CGT) rates, affecting individuals, business owners, and shareholders alike. These changes are crucial for those planning to dispose of assets or sell a business, as they could significantly impact your tax liabilities. Overview of the Main CGT Changes Effective immediately: Main CGT Rates: The tax rate

In the Autumn Budget 2024, the government has announced a raft of changes that will affect the provision of company vehicles. Following a recent Court of Appeal judgement, the government will change how double cab pick-up vehicles (DCPUs) with a payload of one tonne or more are classified for tax purposes. Starting from: DCPUs will

Life is full of surprises, and not all of them are pleasant. In a world where uncertainty is a constant companion, individuals and families are increasingly seeking ways to secure their financial future. One such avenue that has gained prominence is relevant life insurance, a unique policy that not only offers protection but also comes

MTDITSA is coming! But what is it? Who will it affect? When is it happening? Below you will find answers to these pressing questions, providing some insight into what will soon become a mandatory HMRC requirement. What is MTDITSA? Making Tax digital for Income Tax Self-Assessment is a new way of reporting income and expenses

ATED is a tax that applies to high value residential properties held in certain corporate structures, such as companies. The purpose of ATED is to discourage the use of corporate structures to avoid other property related taxes. ATED Key Points Explained Applicability. ATED applies to dwellings (typically residential properties) valued over £500,000, that are owned

Introduction With effect from 2023/2024 tax year, the basis period for annual accounts will change for self-employed traders, partners in trading partnerships and other unincorporated bodies with trading income, such as trading trusts and estates. Currently, the legislation adopts the Current Year Basis (CYB) rule which taxes the profits of the 12-month accounting period ending

We have seen an increase in corporation tax this year from 19% to 25% and so there is no better time to consider your pension arrangements to take advantage of the tax relief available on such expenditure. Pensions play a crucial role in securing financial stability during retirement, offering individuals a source of income after