New internet laws return to Parliament
May 3, 2022

Parliamentarians will debate the government’s ground-breaking Online Safety Bill which requires social media platforms, search engines and other apps and websites allowing people to post content to improve the way they protect their...

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Using your private vehicle for business journeys
May 3, 2022

Employers can pay employees a fixed rate per mile to cover the costs of using their own vehicles on company business.

The present agreed rates per mile are:

  • Cars and vans - 45p per mile for the first 10,000 miles and then...

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Employment Allowance increase
May 3, 2022

The Employment Allowance has risen from £4,000 to £5,000 – meaning smaller firms will be able to claim up to £5,000 off their employer National Insurance Contributions (NICs) bills.

Announced by the Chancellor at...

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Dividends hit by NIC increase
May 3, 2022

Dividends are a distribution of company profits to shareholders. Historically, they have been taxed as unearned income – no National Insurance deductions.

This is still the case, but the Treasury have decided that the recent...

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Tax planning 2022-23
April 28, 2022

Planning to save tax may seem like a luxury buy in these days of rising prices and recovering from COVID fallout.

And yet tax planning is of real value in these uncertain times.

Whether your income and profits are increasing or...

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Rising prices – inflation and the background
April 26, 2022

We are all feeling the effects of inflation, increasing energy, fuel and the price of basic foodstuffs affect us all.

The Government Actuary’s Department has posted a blog article recently – Inflation, its personal –...

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Reorganising company structures to save tax
April 21, 2022

When corporation tax increases from 1 April 2023, companies will need to consider three scenarios:

From 1 April 2023:

  • The main corporation tax rate is increased to 25% where profits are over the upper profits limit, set...

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The value of objectivity
April 20, 2022

Many business owners feel qualified to act on their subjective conclusions. Where these conclusions are key to the continuing success of the business this internal process opens up the possibility of failure – what if you have failed to...

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Saving to meet future tax payments
April 14, 2022

Whether you are self-employed or run your business through a company, the profits you produce are subject to tax less any reliefs for past losses or investments in assets that qualify for tax relief.

As most accounts software packages...

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Planning for the unexpected
April 14, 2022

How do we plan for the unpredictability that is a recurring feature of our business lives?

Brexit, COVID-19, and now the war in Ukraine, all conspire to create trading conditions that can best be described as chaotic.

Present...

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