Category: Finance
National Insurance Contributions Cut
On 22 November the Chancellor presented his latest Autumn Statement. You can read our summary here. Within the Statement he announced that National Insurance Contributions (NICs) would be either reduced or cut altogether (depending on the type of contribution class). You can see an overview of the changes below. As well as being awa...
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What happens if my tax return is submitted late?
The process of tax filing in the UK is fairly straightforward but requires a thorough understanding of the various tax codes, allowances, and deductions. Typically, tax returns have to be filed by the 31st of January following the end of the tax year, which runs from 6th April to 5th April the next year. Despite this, there are instanc...
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Autumn Statement 2023
This week the Chancellor presented his Autumn Statement. This was an eagerly anticipated Statement, as we waited to see if he would act based on the recent positive financial results (lower inflation, improved GDP predictions, etc), or whether he would take a more cautious approach. The Chancellor answered that question during his init...
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Navigating Property Investment: Sole Trader Vs Limited Company
The world of property investment is indeed a fascinating one. It offers numerous opportunities for investors to potentially grow their wealth, while also providing a tangible asset that can be beneficial for long-term investment. In the UK, property investment has always been a popular choice among investors due to the stability of the ma...
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Choosing the Right Path: Best Legal Structures for a Joint Venture
The term 'joint venture' has become quite prevalent in the business world today. But what is a joint venture? A joint venture is an arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture, each pa...
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Spring Budget 2023
This week Chancellor Jeremy Hunt presented his Spring Budget Statement. In the lead up to the Budget, many experts were predicting what was supposed to be a relatively ‘dull’ Budget, with few surprises expected. And whilst it was a fairly basic Budget in terms of the number of announcements, the announcements were anything but dull. ...
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Super Deduction Tax Relief
As we count down to the Spring Statement, we’re also reminded of the upcoming deadline of a benefit introduced back in the 2021 Budget by then Chancellor, Rishi Sunak. Following two years of economic slowdown, one of the measures brought in by Rishi Sunak to help kickstart the economy post-Covid, was what is known as the Super Deduct...
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January: here to stay?
If you’ve been following our blogs and newsletters, you will have noticed we’ve mentioned Making Tax Digital (MTD) once or twice. The reason being that MTD represents a significant change to the way self assessments will be submitted/managed. Thus it’s not something that can or should be ignored. As a reminder, MTD is the new sel...
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Autumn Statement 2022
On Thursday 17 November Chancellor Jeremy Hunt announced his first Autumn Statement since being called to the position of Chancellor. This was never going to be a Statement of exciting promises. Rather, it was more a case of damage limitation. Unfortunately the Statement delivered what many predicted – higher taxes and spending cuts....
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Bouncing Bounce Back Loans
In 2020, against the backdrop of a global pandemic, as a measure to help businesses who were struggling, the British government launched a solution known as the ‘bounce back loan scheme’. The idea was that businesses would be able to easily raise finance, at a low rate of interest in order to help with their recovery. The problem i...
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