With the Autumn Budget looming ominously on the horizon, Rachel Reeves seems keen to build some goodwill with businesses ahead of some likely tax hikes.
Category Archives: SME
Record numbers face Dividend Tax bills: How does this affect taxpayers and investors?
The UK’s economic picture remains uncertain ahead of the Autumn Budget and with the economy growing at a very slow pace, investors and taxpayers are feeling the pinch with a record number set to face a Dividend Tax bill. Continue reading
Government borrowing at record high – how will your business be affected?
Anyone even tangentially involved in UK economics will have noticed that the future is not looking bright. Continue reading
How Dumbarton FC beat the drop – and what SMEs can learn from their business revival
More often than not, football clubs are seen as a billionaire’s plaything, where lavish amounts of money are spent at the drop of a hat on somebody to kick a ball about. Continue reading
The tax traps of director’s loans – How to avoid unnecessary charges
Director’s loans can be a useful way to access company funds, but if not managed properly, they can lead to unexpected tax liabilities.
Potential tax increases and their impact on businesses
In recent reports, former Prime Minister Sir Tony Blair has forecasted potential tax increases that could have an impact on businesses across the UK.
The Tony Blair Institute’s chief economist predicts taxes may need to rise by 1.9 percentage points of GDP by the end of this Parliament to stabilise debt, potentially equating to over £50 billion.
Are you optimising profit extraction from your business?
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If you’re a business owner of a limited company, it’s important that you know how to make the most of your after-tax profit to support your personal financial health – known as profit extraction. Continue reading
Attention UK Taxpayers – do you understand the 500T tax code?
The 500T tax code in the UK is a temporary, non-cumulative code used by HMRC when they lack information.
Tightening the reins on ‘side hustles’ – Navigating HMRC’s new powers
HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key area of tax evasion – online traders. Continue reading
Everything you should know before becoming a sole trader
Starting a freelance career marks a significant transition from traditional employment but it’s a decision that many are nervous to make.