Chancellor targets business growth in Spring Budget
March 20, 2023

A £27 billion tax cut for business to drive investment and growth featured among the headlines of Jeremy Hunt’s Spring Budget.

A ‘full expensing’ policy introduced from 1 April 2023 until 31 March 2026 and an...

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Budget summary 15 March 2023
March 16, 2023

As expected, the Chancellor, Jeremy Hunt, resisted pressure to reduce taxes in any significant way, and the majority of his announced changes were already in the public domain. According to the Chancellor, the UK economy is on track to grow in...

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Leaving your business? Why you should plan an exit strategy
March 10, 2023

Retirement may be a long way off, but when it does come time to leave your business, you want to ensure it is in the best shape it can be. And that requires some forward planning.

What is an exit strategy?

As a...

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Thinking of ditching the 9-5 and going self-employed?
March 8, 2023

Starting up your own business may be the dream, but is it right for you? We look at some of the pros and cons of going it alone.

Making a change

Self-employment and traditional employment have their benefits and...

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Why close a limited company
March 7, 2023

There are a number of reasons why you may look to close your limited company. This could be because the limited company structure no longer suits your needs, your business is no longer active, or the company is insolvent. You will usually need...

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A reminder – points add up to penalties from 1 January 2023
March 2, 2023

The changes to VAT penalties from 1 January 2023 will affect everyone who submits VAT returns, including nil or repayment return. The default surcharge regime has been replaced by a new penalty system with different penalties for late...

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Tax Diary March/April 2023
March 1, 2023

1 March 2023 - Due date for Corporation Tax due for the year ended 31 May 2022.

2 March 2023 – Self-Assessment tax for 2021-22 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2023, or an...

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Gaps in your National Insurance record
March 1, 2023

National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the number of qualifying years of National Insurance contributions which can increase the amount of...

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Late tax payment interest rate rise
March 1, 2023

The Bank of England’s Monetary Policy Committee (MPC) met on 2 February 2023 and voted 6-3 in favour of raising interest rates by 50 basis points to 4% in a move to try and continue to tackle upward pressures on inflation. This is the...

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CGT reliefs much reduced from April 2023
March 1, 2023

The annual exempt amount applicable to Capital Gains Tax (CGT) is to be more than halved from April 2023. This means that the exempt amount will be reduced from £12,300 to £6,000 from April 2023 before being further reduced to...

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