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...
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...
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...
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...
Are you self-employed? Or are you a partner in a trading partnership? If you are, you should be aware of the proposed changes to the tax basis period for unincorporated businesses. HM Revenue & Customs (HMRC) is proposing to change the way that unincorporated...
If you sell or dispose of a residential property in the UK, you may be liable to pay Capital Gains Tax (CGT) on the profits you make. CGT is only charged on the gain made, not on how much you sell the property for, so it is important to understand what reliefs are...
