A poll commissioned by insurance firm Aon recently suggested that UK small and medium-sized enterprises (SMEs) are 'unmindful of the risks' that cyber-attacks and data breaches pose to their business. The poll found that eight out of ten small firms don't regard cyber-attacks or data breaches to be significant risks to their business. A survey … Continue reading UK SMEs ‘Unmindful of Risks Posed by Cyber-Attacks’, Poll Suggests
In the 2018 Autumn Budget, Chancellor Philip Hammond announced a new capital allowance, the Structures and Buildings Allowance (SBA). The new SBA gives relief for expenditure on certain structures and buildings. Since the abolition of the Industrial and Agricultural Buildings Allowances, no relief has been available for most structures and buildings. The SBA addresses the … Continue reading The New Structures and Buildings Allowance
A report published by the Business, Energy and Industrial Strategy (BEIS) Committee recently highlighted how 'bad payment practices' have led to the 'failure' of many small and medium-sized enterprises (SMEs). The government's Prompt Payment Code, which was created to address poor payment practices, has 'too often' been 'ineffective', according to the Committee. A 'statutory requirement' … Continue reading Government Urged to Take ‘Tough Action’ on Late Payments
Entrepreneurs’ Relief (ER) is available to taxpayers on the disposal of the whole or part of their business. ER means that you pay capital gains tax (CGT) at a rate of 10% rather than 20%, subject to a lifetime limit of £10 million. Following the 2018 Autumn Budget, new conditions have been introduced to ensure … Continue reading Entrepreneurs’ Relief: An Update
A survey conducted by the British Chambers of Commerce (BCC) in conjunction with insurer Aviva has suggested that discussing mental health in the workplace is becoming ‘less taboo’ for both employers and employees. Almost 30% of firms have experienced an increase in the number of employees taking time off work due to mental health issues. … Continue reading Mental Health Becoming ‘Less Taboo’ in UK Workplaces
With the end of the 2018/19 tax year fast approaching, now is a good time to review your finances to ensure you are making full use of the available allowances and minimising your tax liability. Personal planning Maximising the personal allowance The basic income tax personal allowance (PA) for an individual is set at £11,850 … Continue reading Top Tax Planning Tips for the Year End
The deadline of 1st April 2019 is rapidly approaching. How should business owners be feeling about Making Tax Digital (MTD)? Is it something to fear? Something to lose sleep over? Or are there positives to be embraced as we move towards this new era of online business taxation. MTD is the biggest change to the … Continue reading Will Making Tax Digital Make Tax Difficult?
For employees using a company car, the new fuel rates for use from 1 March are as follows: Engine Size Petrol LPG Diesel Amount per mile (in pence) 1400cc or less 11 7 10 1401cc to 1600cc 14 8 10 1601cc to 2000cc 14 8 11 Over 2000cc 21 13 13 For the purpose of … Continue reading Advisory Fuel Rates from 1st March 2019
We would like to invite you to join us at this FREE Landlord forum on Tuesday 26th March 2019. As always, our invitation goes out to all who may be interested in attending this FREE event. So if you know someone who is a landlord or thinking about becoming a landlord, please do pass this … Continue reading Gwent Landlord Forum – 26 March 2019
Experts have recently warned that thousands of over-55s are at risk of incurring charges and reducing the available tax relief if they continue to delve into their pension pots whilst benefiting from workplace pension contributions. This article takes a look at some key pensions tax reliefs and allowances. Relief on pension contributions All pension schemes, … Continue reading Are You Making the Most of Pensions Tax Reliefs?