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.