Business

Budget 3 March 2021 – Key Points

On the 3rd of March 2021, The Chancellor delivered the budget. A summary of the main points are as follows: COVID-19 Support Extension of the Coronavirus Job Support Scheme to September 2021Self Employment Income Support scheme extended to September 2021, with 600,000...

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Budget 16 March 2016 – Key Points

Personal Tax The threshold at which people pay 40% tax will rise from £42,385 to £45,000 in April 2017. Tax-free personal allowance rising to £11,500 in April 2017. 0.5% rise in insurance premium tax. Capital Gains Tax Capital Gains Tax to be cut from 28% to 20%, and...

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Budget 8th July 2015 – Key Points

Below are the key points from George Osborne’s 2015 summer budget in relation to businesses and personal tax changes. Businesses Corporation Tax will be cut from its current rate of 20% to 19% in 2017 and 18% in 2020. National Insurance employment allowance for small...

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International Currency

The Renminbi The gradual emergence of the renminbi (The official currency of the People’s Republic of China) has been one of the more significant developments to occur in the wake of the world recession. It is now accountable for 2.2% of all foreign exchange...

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Cash Basis Accounting for Small Businesses

Key features Cash basis is a way of working out a business’s income and expenses for a Self-Assessment Tax Return. The cash accounting regime is voluntary and available to unincorporated businesses. Using cash basis requires records to be kept in a certain way from...

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Expanding to the UK: Taxes Your Business Will Face

Many companies are migrating to Britain and especially London to take advantage of the resources available to businesses. London has long been established as leading centre for banking and finance and with the emergence of tech city it is fast becoming...

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Crowdfunding: An Exciting New Source of Investment

What is it? Crowdfunding is a relatively recent concept used to raise funds for a business or project. The process has developed as an alternative to more traditional methods such as bank loans or angel investment where a sole person would fund an idea.  With...

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Festive Spirits

Around this time of year there can be many business events such as Christmas parties and trips for employees as well clients. Many employers have trouble distinguishing between allowable expenses and disallowable expenses in terms of tax so I have put together this...

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IR35: Calling All Contractors

IR35 was a piece of legislation brought in by HMRC 12 years ago in an attempt to tackle tax and National Insurance avoidance schemes through the use of intermediaries such as partnerships or companies.  HMRC’s view was that a large number of IT Consultants,...

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