#uktax

Management Buyout: Key Tax Considerations for Management

If you were given an amazing opportunity to buy shares in the company you work for through a management buyout (MBO), would you understand all the tax implications? You could be taking full control or owning a significant stake, allowing you to benefit directly from the company’s future success – but what does this mean

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

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

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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Financial year 2024 – important dates to remember for the coming year!

When running a business, keeping on top of things like tax submissions and regulatory changes isn’t just smart; it’s crucial.  So, since it’s the end of the financial year, and we’re accountants, we thought we’d help you out with this.  To help you prepare for the financial year of 2024, here are the key financial

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Navigating HMRC Allowable Expenses: A Guide to Training Costs

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

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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