Corporation tax increases-1st April 2023

If you operate your business through a limited company, for example, as either a personal or family company, you will pay corporation tax on your profits. Currently, the rate of corporation tax that is payable is the same regardless of the level…

Tax Relief for R&D - April 2023 Changes

Companies that undertake research and development (R&D) may be able to benefit from targeted tax reliefs. There are two schemes – the SME R&D tax credits scheme and, for larger companies, the Research and Development Expenditure Credit…

What is an Associated Company?

If you are within the scope of corporation tax, you may be aware that the rules are changing from 1 April 2023. From that date, a company will pay corporation tax at the small profits rate of 19% if its profits are below the lower profits limit,…

Beat the 5th April ISA deadline

The Bank of England once again increased the base rate on 23 March 2023 – this time by 0.25% to 4.25%. While rising interest rates are good for savers who are able to enjoy a better return on their savings, it may mean that you will need to…

Changes to capital allowances from April 2023

The Chancellor, Jeremy Hunt, presented his Spring Budget on 15 March 2023. There were no changes to the income tax rates and thresholds, which had been announced previously. However, the Chancellor unveiled the successor to the capital allowances…

National Minimum Wages From 1st April 2023

The Government has announced the rates of the National Living Wage (NLW) and National Minimum Wage (NMW) which will come into force from April 2023. In doing so, it has accepted in full the recommendations of the Low Pay Commission. By law,…

Spring Budget 2023 - Pension tax regime

The Chancellor, Jeremy Hunt, presented his Spring Budget on 15 March 2023. There were no changes to the income tax rates and thresholds, which had been announced previously. However, the Chancellor unveiled significant pension reforms. Key…

Problem solving - Why keeping in touch is important

Why keeping in touch is important... Business problems you may be facing Here is a summary of the business-related issues that we are currently helping clients manage: Cashflow concerns Meeting debt repayment obligations The impact…

Tax-Free Childcare - How to get tax-free help

For working parents, the cost of childcare can be significant. The school holidays often present particular challenges as extra childcare may be needed. This can be prohibitively expensive, particularly during the current cost of living crisis.…

Directors National Insurance - Annual Recalculation

Company directors have an annual earnings period for National Insurance contributions. This may necessitate an annual recalculation at the end of the tax year. Key dates When you pay a company director for the final time in the 2022/23 tax…
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