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
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
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.
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?
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, 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
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”
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
And in the blue corner we have the Chancellor delivering another heavy hit on incorporation! The latest budget brought with it unwelcome news for directors of private limited companies who extract dividends as well as individuals with vast shareholdings, as the Government has abolished the dividend tax credit as we know it and introduced a new dividend taxation. From April 2016 there … Continue reading Will Dividends Still Pay Dividends?