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The 130% capital allowances super deduction for companies purchasing new qualifying assets end in the next few weeks. What is the super deduction? The government introduced this new relief to encourage spending to kickstart the economy post-covid from 1 April 2021 to 31 March 2023. The super deduction allows you to deduct 130% of the […]

As you are aware, the tax year ends on 5 April 2023. This is an excellent time to consider your tax position for the year and whether you need to do anything before the end of the tax year from a tax planning point of view. You might like to consider the following: Covid 19

The Institute of Chartered Accountants in England and Wales urges those planning to claim the UK state pension to check their national insurance (NI) record before 5 April 2023. Currently, voluntary contributions can be made to plug gaps back to April 2006, but this will be curtailed from April. The Tax Faculty has created a

The government is consulting on plans to simplify and modernise audio-visual tax reliefs, including film tax schemes, in the first shake-up since their introduction in 2007. It looks like HMRC will merge the four existing reliefs – film, animation, high-end, and children’s television. The consultation paper can be found here https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118361/5082_consultation_audio_visual_reliefs_reform.pdf

The Chancellor announced his Autumn Statement yesterday.  We already knew that he would raise taxes and reverse most, if not all, of the Truss Budget.  Indeed, the Chancellor set out his priorities as Stability, Growth and Public Services.  What this means is that we are back in Austerity 2.0 mode. Oh, and inflation is still

Talking about money is never easy, especially when you’re a small business owner. But, unfortunately, there’s no avoiding it! There will come a time when you get a client or two who disputes an invoice, and you will have to manage it in a way that doesn’t damage your relationship. You have to implement effective

Being a business owner comes with many challenges, especially concerning money. No more so when interest rates are rising, and the economy is in a recession.  You have to have enough money to run the business and pay yourself and your employees, so you have to price your products/services correctly. Then, the biggest monetary challenge

I am writing to you with more changes and reversals to the Kwarteng mini-budget that wasn’t a budget.In short, most of what he announced has been ditched by the new chancellor Jeremy Hunt.I am hesitant to say that these new announcements are going to remain. After all, we are living in “interesting times”. Things could

The media makes pretty grim reading right now. Open any newspaper – online or the paper edition – and you could be forgiven for thinking that the UK is doomed and we are all going to hell on a handcart.  In these times, it is helpful to remember the serenity prayer: God, grant me the