As a small business owner, careful and strategic tax planning is crucial for reducing your end-of-year tax bill. There many types of tax relief, expenses claims, allowances, and ways to minimise corporate taxes to make sure that you don’t pay any more tax than you need to. With this in mind, we have pulled together
In November last year, Chancellor, Jeremy Hunt made some key announcements during his delivery of the Autumn Statement that could affect how much tax you pay from April 2023. The new tax year is set to bring a number of changes that will impact businesses, so it is important to begin preparing for these changes.
From 1 April, 2023, new rules will come into effect for Corporation Tax, and the rate that companies pay will depend on the level of their profits. The corporation tax rate currently is 19%, irrespective of a company’s profit. However, from 1st April 2023 onwards, the rate of Corporation Tax that you will pay, will depend
Chichester District Council’s Enabling Grant Scheme opened for applications on 11 January 2023. The Enabling Grant Program was designed to help improve the efficiency of independent local businesses, to maximise the potential for growth and to assist new businesses with start-up costs. Applicants who meet the eligibility criteria can apply for one of the two grants available
There is always so much to remember when you are running a business, so the beginning of a new year is a great time to get organised and start planning for the year ahead. To help you get started, we have put together some important key tax and accounting dates that business owners should be
If you have recently set up a new company, or you have been managing your business’s finances independently up until now, there are many ways that hiring an accountant can be a huge benefit to the overall growth and success of your business. There is no legal requirement for a limited company to have an
The beginning of a new year is a really good time to think about creating some financial New Year’s resolutions for your business, so you can ensure you hit the ground running for a successful and profitable year ahead. In our personal lives, many of us see a new year as the perfect opportunity to
Earlier this week, the Government announced it would be postponing Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) for two more years until April 2026. As well as delaying it’s implementation, the government also made changes to the terms of the self-assessment stage of MTD, and a planned review means further changes
After much speculation over the last few weeks, HMRC have officially announced that Making Tax Digital for income tax self assessment (MTD for ITSA) will be delayed for two more years until April 2026. Making Tax Digital for Income Tax (MTD for ITSA) is part of the government’s plan to make tax recording more efficient,
Self Assessment for company directors can be a confusing process, as directors often receive income from different sources. Here, we take a look at what income company directors pay tax on, and the self assessment process. Do I need to register for self assessment? As a company director, you don’t automatically need to register for
Yesterday in the House of Commons, Chancellor Jeremy Hunt unveiled the contents of his Autumn Statement against a backdrop of rising inflation and economic recession. Below is a link to our full summary of the Autumn statement which covers the following topics: Income tax National Insurance contributions Capital Gains Inheritance Tax Stamp Duty Land Tax
Chancellor, Jeremy Hunt has unveiled the contents of his Autumn Statement today in the House of Commons. We will be producing a full summary of what was announced in due course, but here are the key points at a glance: Household energy price cap extended for one year beyond April but with typical bills capped
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