Umar Memon
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Giving to charity in life and death
How to include charitable donations in your tax planning strategy. Incorporating charitable giving into your tax planning strategy can be a useful way to reduce both your income tax and the inheritance tax (IHT) that will eventually become payable on… Read more Giving to charity in life and death
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Autumn Budget 2017 round-up
A range of measures designed to boost business and productivity were announced in Autumn Budget 2017. Amid a background of discontent surrounding business rates, chancellor Philip Hammond revealed future increases will be determined by the Consumer Prices Index measure of… Read more Autumn Budget 2017 round-up
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Claims for R&D tax credits hit record high
Research and development (R&D) tax credit claims by small businesses climbed to £1.345 billion in 2015/16, according to HMRC. The revenue recently released R&D data for the previous financial year that shows claims increased from £1 billion in 2014/15 to… Read more Claims for R&D tax credits hit record high
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Chancellor freezes VAT threshold until 2020
Small businesses breathed a collective sigh of relief when chancellor Philip Hammond resisted calls to lower the VAT threshold in Autumn Budget 2017. The Office of Tax Simplification (OTS) made eight core recommendations for the government to clarify the VAT… Read more Chancellor freezes VAT threshold until 2020
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Accounts for limited companies
Audits may be a thing of the past, but certain annual reports still apply. If you’re a business owner, you may be familiar with the process of submitting your accounts for official inspection by an independent body. This is known… Read more Accounts for limited companies
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Cautious Businesses Delaying Investments
Businesses are in no rush to make investments amid the ongoing uncertainty of Brexit, according to the Institute of Chartered Accountants in England and Wales (ICAEW). More than one in four businesses are delaying investment decisions as the government continues… Read more Cautious Businesses Delaying Investments
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VAT and three-party transactions
A guide to the VAT implications of having three entities involved in a transaction. VAT can get very complicated when there are three parties involved in a transaction. This may happen in an agency situation where one party is arranging… Read more VAT and three-party transactions
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Start planning for the New Year Personal Tax deadline
Personal tax returns need to be submitted to HMRC before 31st January. As of today, that leaves just 61 working days to get the return finalised. This year, there is an earlier deadline which may be relevant to you. HMRC… Read more Start planning for the New Year Personal Tax deadline
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Patent Box
Reducing corporation tax due on patent income. The patent box regime applies a reduced rate of corporation tax to profits attributable to qualifying patents and similar intellectual property (IP). Unincorporated businesses can’t qualify for the patent box. The patent box… Read more Patent Box
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Measuring business performance
What are the best ways to assess your firm’s performance? Changing market conditions make it more important than ever to measure your business’ performance on a regular basis. The impact caused by recent events, such as the vote to leave… Read more Measuring business performance
