Category Archives: Uncategorized

Saving for a rainy day

The more draconian government interventions introduced to control the COVID outbreak have challenged all of us, businesses and individuals, to consider the notion that we can no longer rely on our jobs or businesses to effortlessly produce the income we need. Many businesses in the hospitality and entertainment sectors had their ability to trade quashed. […]

Elastic or inelastic?

Would demand for the products or services you sell vary with price increases or decreases? This conundrum is considered by the term elasticity in economic circles – how demand changes when prices change. If demand for your products is elastic, any change in price will have a corresponding impact in demand. For example, if you […]

Investing to increase profits

The UK tax code has numerous reliefs and allowances that reduce tax when businesses invest in qualifying assets. Some of the reliefs allow up to 100% of the invested cost to be written off against taxable profits and companies can presently write-off 130% of qualifying expenditure. But aside from these tax incentives to invest, it […]

Dividends hit by NIC increase

Dividends are a distribution of company profits to shareholders. Historically, they have been taxed as unearned income – no National Insurance deductions. This is still the case, but the Treasury have decided that the recent increase of 1.25% in National Insurance rates will also apply to dividends. Since April 2016, the rates of Income Tax […]

Employment Allowance increase

The Employment Allowance has risen from £4,000 to £5,000 – meaning smaller firms will be able to claim up to £5,000 off their employer National Insurance Contributions (NICs) bills. Announced by the Chancellor at last month’s Spring Statement to reduce employment costs, the change takes an extra 50,000 firms out of paying NICs and the […]

New internet laws return to Parliament

Parliamentarians will debate the government’s ground-breaking Online Safety Bill which requires social media platforms, search engines and other apps and websites allowing people to post content to improve the way they protect their users. Ofcom, the regulator, will have the power to fine companies failing to comply with the laws up to ten per cent […]

Tax planning 2022-23

Planning to save tax may seem like a luxury buy in these days of rising prices and recovering from COVID fallout. And yet tax planning is of real value in these uncertain times. Whether your income and profits are increasing or reducing, there will be tax consequences. And unfortunately, to mitigate your tax footprint you […]