#tax

Encouraging private investment into small and medium-sized companies – government-endorsed tax incentives

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For small companies, obtaining tax-efficient funding involves leveraging various schemes and incentives that minimise tax liabilities while maximising capital inflow. These schemes are designed to attract investment by offering tax reliefs to investors, making it more appealing for them to invest in small and growing businesses.  Several government-endorsed tax incentives have been implemented to encourage […]

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Reduction in higher rate of capital gains tax on residential property gains

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For capital gains tax purposes, residential property gains have their own, harsher, rules. Not only are taxed charged at a higher rate, but taxpayers also have a shorter window in which to report the gain and pay the corresponding tax over to HMRC.  In the 2024 Spring Budget, the Chancellor announced that the higher rate

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How to protect your business from an HMRC investigation

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Just the thought of an HMRC investigation can send shivers down the spine of any business owner, but fear not!  We’ve got precautions and strategies to share with you that can significantly reduce the likelihood of finding yourself under HMRC’s microscope. They will also help guide you through an investigation smoothly.  What is an investigation

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Navigating HMRC Allowable Expenses: A Guide to Training Costs

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In the dynamic landscape of business, keeping skills sharp and knowledge up-to-date is crucial for staying competitive. Fortunately, tax relief on training expenses provided by HM Revenue and Customs (HMRC) can offer a significant incentive for individuals and businesses alike to invest in learning and development. Understanding what expenses qualify for tax relief under HMRC

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Permanent rates for theatre, orchestra, museum and gallery tax reliefs – The Spring Statement 2024

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From 1 April 2025, the rates of Theatre Tax Relief (TTR), Orchestra Tax Relief (OTR) and Museums and Galleries Exhibition Tax Relief (MGETR) will be permanently set at 40% (for non-touring productions) and 45% (for touring productions and all orchestra productions). The government will remove the sunset clause for MGETR so that it becomes a

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