Blog

Commentary and insight

Our team of experts keeps a close eye on developments in tax law and financial regulation. Our blog is where they interpret the ever-changing statutory landscape in plain English, highlighting what’s important and offering practical advice on what businesses can do to avoid pitfalls or seize the opportunities presented.

What Value Can Automation Bring to Your Business?

If there’s a manual task in your business that’s taking up time, automate it. Automation removes the manual workload and streamlines your processes. Automation has the capacity to revolutionise your efficiency and productivity. But how many of the...

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Making Tax Digital (MTD) For Income Tax

Introduction Self employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023. What is “Making Tax...

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Taking Charge of Planning Your Estate

Increasing house prices raise inheritance tax risk. Soaring house prices coupled with certain thresholds being frozen in the most recent Budget have the potential to drag more estates into the inheritance tax net over the coming years. Back in...

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Off-Payroll Working – Will HMRC Accept CEST Result?

Since 6 April 2021 large and medium sized organisations, based on the Companies Act criteria, have had to determine whether or not a worker supplying his services via their own personal service company would be treated as an employee if directly...

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The Pros and Cons of a Company Electric Car

Should employers shift towards greener vehicles? Despite the potentially high personal tax charge, many employees still enjoy and prefer the convenience of being offered the use of a company car by their employer. Those employers familiar with the...

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Tax Planning for Residential Landlords

Planning to take advantage of low interest rates? After a challenging year for the UK’s residential landlords, you might have read about improvements to the buy-to-let mortgage market in recent weeks. In the three months to 31 May 2021, the average...

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The Basics of VAT for UK Businesses

An introduction to the main business tax. VAT is a business tax on the supply of goods and services. It is charged at varying rates depending on what is being supplied, who it is being supplied to and where it is being supplied to. But with Brexit,...

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Costs You Can Reclaim on the Business

Expenses and allowances in 2021/22. If you’re self-employed, your business will rack up various running costs throughout 2021/22. Some of those you’re able to deduct as allowable expenses. By deducting these allowable expenses as part of...

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Find out more about the full range of business and tax advisory services Horsfield & Smith offers to businesses and individuals across Greater Manchester and the North West of England and see how we can help you achieve your goals for growth.