Spring Budget 2024: A Summary

In what was widely expected to be Mr Hunt’s final Budget ahead of an election, speculation in the final run up focused on the trade-offs that might be required around cutting taxes and meeting both fiscal rules and spending commitments. Ultimately the Chancellor had...

Pension contributions and corporation tax

Owner-managed companies with profits in the region of £150,000 to £250,000 are facing a significant tax hike this year. However, the tax increase can be mitigated by the company making pension contributions into a director’s self-invested personal pension (SIPP). A...

Don’t get caught in the VAT penalties net

The 50th anniversary of the UK’s introduction of VAT was earlier this year, but despitebeing around for a while, many VAT-registered businesses still find VAT too complexand confusing. No surprise then that more businesses than ever are getting hit withpenalties for...

Finalising returns figures and filing early

HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containingunresolved provisional figures, while also extolling the benefits of filing early for2022/23. What are provisional figures?A provisional figure is not the same as an estimated one. An...

Managing Your Business Through Inflation

Small businesses trying to cope with 9% inflation face a difficult balancing act between potentially alienating customers by increasing prices too sharply or absorbing increased costs and risking their survival. How can you cushion the blows? Maintaining a regularly...