Spotlight on Self-Assessment

Spotlight on Self-Assessment

What to watch out for when navigating this important financial obligation. The UK Self-Assessment System has its quirks and nuances. Understanding how to stay compliant is crucial to a smooth and stress free income tax process. From early paper deadlines to penalties...

How Do Capital Allowances Reduce Your Tax Bill?

Generally speaking, the business expenses you incur are allowable against your profits. But when it comes to fixed asset purchases (things like machinery, equipment or vehicles), these purchases are treated slightly differently. To reduce your tax bill when purchasing...

4 Key Areas to Think About When Purchasing a Buy-to-Let Property

Purchasing a buy-to-let property is an increasingly popular way to invest in your future and to give you and your dependents some financial security. But starting a property portfolio and becoming a landlord is something that requires plenty of thought before you dive...

What Are the Main Changes to R&D Tax Relief?

The tax relief scheme for Research and Development (R&D) is an important way to cut the costs of investing in R&D, development projects and innovation across your business. However, the Spring Budget 2023 has brought in several changes to the R&D tax...

Corporation Tax in 2023 – how the April tax rise affects SMEs

The main rate of corporation tax will rise from 19% to 25% from 1 April 2023, affecting companies with profits of £250,000 and over. The legislation provides that small companies with profits up to £50,000 will continue to pay corporation tax at 19%, with profits...