Business investments

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 negotiations with the EU. As a result of their collective cautiousness, 61% of those firms[…]

Tax Deadline

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 have announced from 13 January 2018 (i.e. only 49 days away), they will no longer[…]

Chartered Accountants

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 tax rate has gradually been reduced to 10% since the introduction of the regime in[…]

Tax

Managing automatic re-enrolment

Once you’ve been running auto-enrolment for three years you’ll need to re-enrol workers. Over the last five years there has been a seismic shift in attitudes towards retirement saving. Auto-enrolment means workplace pensions are now regarded by many employees as a normal part of working life. Although detractors argue that minimum contributions lull people into[…]

Making Tax Digital

High value dealers need to register for cash payments

Businesses accepting cash payments of €10,000 or more in exchange for goods are required to register with HMRC under money laundering regulations (MLR). Recent changes to regulations mean that companies accepting cash payments on or above the threshold limit (or equivalent in sterling) will be classed as high value dealers. Transactions that are considered high[…]