You’ve only got until March 2023 to claim up to £1 million in Annual Investment Allowance, don’t miss out! (4 minute read) Today’s Friday Tax Tip explains: What is Annual Investment Allowance? How much you can claim How to claim it What is Annual Investment Allowance? The Annual Investment Allowance is a Capital Allowance that… Read more »
Posts Categorized: Friday Tax Tip’s
Long-term Service Award: The Tax-free Way to Celebrate Your Employees
There’s never been a better time to show your long-term employees you value them. And there’s no better way to do that than a long-term service award. (5 minute read) Today’s tip will explain: The current climate of employee turnover How to reward and encourage employee longevity Can a Long-term Service Award Promote Employee Loyalty?… Read more »
University Students and Tax: Supporting your Children
University students and tax don’t often mix. But when your children are grown up and heading into higher education, it pays to plan ahead. (4 minute read) Today’s tip will explain: What financial support is expected of parents when children go to university How to support your university students and tax obligations University Students and… Read more »
Corporation Tax Rise: Beat the Tax Hike
Although the Corporation Tax rise won’t officially hit until next year, some businesses are already feeling the pressure. Here’s how to plan for 2023. (3 minute read) Today’s tip will explain: What the Corporation Tax rise means for you Cutting the costs before they’re incurred What’s New? Rishi Sunak announced several huge changes to tax… Read more »
How Long to Keep Business Records UK? Mastering your Skills
There’s no time like the present to boost your record-keeping skills. Here’s how long to keep business records UK! (3 minute read) Today we’re learning: Which documents to keep How long to keep business records UK Top tips for record-keeping Top Tip: If you’re the type to get buried beneath a mass of unordered paper,… Read more »
Optimal Directors Salary 2022/23: How High is the Perfect Salary?
A new fiscal year means a new paradigm shift! Here’s how to work out the best directors salary 2022/23. (3 minute read) Today’s tax tip explains: What an optimal salary is How to calculate your optimal salary How to extract funds from your company efficiently What is an Optimal Director Salary? Director/shareholders have a lot… Read more »
New Government Guidance Issued: Minimising your Tax Bill
With the cost-of-living crisis worsening, the government is reminding taxpayers to take advantage of reliefs, allowances and support from HMRC. Here’s what they’re recommending. (4 minute read) Today’s tax tip explains: The new guidance to lower your tax bill How you can access tax support Minimising the sting of taxation What’s in the News? HMRC… Read more »
The Future of Reporting Cryptoassets? Crypto Consultation Now Open!
The Organisation for Economic Co-operation and Development has opened a consultation into including cryptoassets in the existing Common Reporting Standard. What does this mean for you? (3 minute read) Today’s tax tip explains: The problems with reporting cryptoassets A solution? Where do we go from here? The Issue with reporting Cryptoassets Cryptoassets have been in… Read more »
Inside vs Outside IR35: Adrian Chiles HMRC Battle of the Decade!
Inside vs outside IR35? Courts finally reached a verdict for Adrian Chiles (Match of the Day, The One Show) after seven years. What can his case teach us? (3 minute read) Today’s tax tip explains: What Adrian Chiles’ case was about How the court decided the outcome Understanding if you’re inside vs outside IR35 The… Read more »
Spring Statement 2022: What’s in it for You?
The Spring Statement 2022 featured some unexpected twists that will shape the future for businesses. Here are the key points. (4 minute read) Today’s tax tip will explain: The main points outlined in the Spring Statement 2022 What the changes mean for you What to expect in the future The Spring Statement is typically a… Read more »