2024 Spring Budget Update
Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’.
Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’.
Before the introduction of the Corporation Tax Act 2010 Section 455 it was possible to take out an indefinite loan from your company and avoid income tax.
In recent months, the UK government has focused on enhancing research and development (R&D) spending, primarily by adjusting the tax system.
As if the increase in the primary corporation tax rate, from 19% to 25%, wasn't enough, on 1 April 2023, HMRC changed the associated company status rules.
The subject of personal liability is crucial when it comes to a partnership or business, as it can put your personal assets at risk.
If you are self-employed (sole trader) or part of a partnership; with a business year-end date outside of 31 March to 5 April, you must take advice from your accountant.
Most private landlords hold property in their name, although recent changes in mortgage interest relief have prompted many to consider switching to a company.
Since HMRC began to taper mortgage interest tax relief in the 2017/18 tax year, we have seen the emergence of schemes looking to maximise income by minimising tax liabilities.
Over the years, we have seen many "tax efficient" schemes come and go concerning the payment of school fees. This has been closely followed by tightening regulations after some high-profile court disputes.
The UK tax system is complex, to say the least, and many people are only now finding out about personal and business tax-free allowances which they have failed to claim.