Running Your Business as a Company

The question of whether to run a business as a limited company is a major decision. Here we look at some of the key areas to consider. Tax implications Income tax vs corporation tax For limited companies, it is the company and not the director-shareholder that pays tax. The current rate for corporation tax is … Continue reading Running Your Business as a Company

Year End Tax Planning Tips For Companies

  Corporation tax is set to reduce to 19% with effect from 1 April 2017 but opportunities still remain to reduce and defer corporation tax liabilities. Here are some you may wish to consider. MAXIMISE CAPITAL ALLOWANCE The annual investment allowance (AIA) provides 100% tax relief for qualifying expenditure incurred up to a limit of £200,000 … Continue reading Year End Tax Planning Tips For Companies

2017 Budget Review

Following on from the Chancellor's first and last Spring Budget, we are pleased to provide you with our summary of the key announcements, along with our tax tables for the 2017/18 tax year: The main changes include: The tax-free dividend allowance will be reduced from £5,000 to £2,000 from April 2018. Class 4 national insurance contributions … Continue reading 2017 Budget Review

Tax Saving Strategies To Implement Before 5 April and our Spring Newsletter

Keep up to date with tax matters and explore some of the tax saving opportunities with our recent newsletters. Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

Research & Development Tax Credits: What could it be worth to your business?

  Many companies are apparently still not aware of Research & Development (R&D) Tax Credits or what it could be worth to their Business. Yet for companies who use them, R & D tax credits usually become an important part of their overall financial position. So what is R & D expenditure? It relates to … Continue reading Research & Development Tax Credits: What could it be worth to your business?

2016 Budget Review

Following on from the Chancellors 2016 Budget statement, we are pleased to provide you with our summary of all the key points, including: The new Lifetime ISA Cuts for Capital Gains Tax and Corporation Tax The restructuring of Stamp Duty Land Tax Abolishment of Class 2 NIC for the self-employed An increase in the Personal … Continue reading 2016 Budget Review

Ed Gooderham’s thoughts on the Budget

Ed Gooderham, partner at Green & Co, tweeted along live with George Osborne's Budget announcements. Catch up with his thoughts here... #Budget2016 Osborne just started speaking, let's see how he will tax us and what new ideas we will come up with! — Ed Gooderham (@Green_and_Co) March 16, 2016 #Budget2016 - Growth of 2% per … Continue reading Ed Gooderham’s thoughts on the Budget

Welsh Town Declares Itself “Off-Shore”

Local businesses in the Powys town of Crickhowell have united in submitting their own DIY tax plan to HMRC, stating that they intend to register the whole town as “off-shore”. The move comes after locals became angry at loopholes in the tax legislation which allows big corporates like Amazon and Starbucks to pay relatively little … Continue reading Welsh Town Declares Itself “Off-Shore”

Small Businesses Encouraged To Take Up R&D Relief

More and more businesses are being encouraged to claim Research & Development (R&D) tax relief. Could you benefit? The R&D tax relief encourages companies to invest in new product development and helps them by reducing the amount of corporation tax they have to pay to HMRC on their profits. Around 15,000 UK companies claimed the … Continue reading Small Businesses Encouraged To Take Up R&D Relief