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Email: jon@proactive-accounting.com
In line with yesterday’s budget there are a few things that everyone should be aware of. We’ve done our best to keep this as brief and easy to read as possible, there are ample guides elsewhere which can summarize the budget in more technical language. Most of the information thus far comes from the chancellors…
Electric Car Tax Breaks With the price of fuel flying through the roof and the government’s approach to levying extremely high levels of tax on company cars provided as a benefit in kind, many business owners are looking at electric vehicles as a strong alternative to traditional cars or pickups. The tax benefits are strong…
Under pressure from their members our professional bodies have finally broke their silence on HMRC’s poor service. All of the major accounting regulators have issued a full letter to HMRC calling the organization out over the absolute collapse in their service levels since 2020. “We are under considerable pressure from our members to demonstrate…
There have been some substantial changes in yesterday’s budget that you should be aware of. You can obviously find these summarized elsewhere on the internet, but we thought it would be helpful to highlight those changes we think are most significant to our clientbase. If you are a client with a SSAS, R&D work or…
The next call for Resource Efficiency Capital Grant (RECG) applications opens on Tuesday 4 April 2023, closing Tuesday 16 May at 17:00. The RECG provides Invest Northern Ireland customers with financial support for the installation of new equipment that delivers a reduction in raw materials, waste and/or water. This support enables businesses to achieve costs…
As you may be aware, the UK government announced the Autumn Statement yesterday. There was very little in this of value to most small and medium sized businesses but there are a few points that are worth highlighting and being aware of. Minimum Wage Increase and Age Requirement For National Loving Wage Dropped Effective…
Some bad news announced this morning. Companies House have declared that effective from 1 May 2024, there is going to be an enormous increase to all of the administrative filing costs for UK companies. This comes on the back of a push from the UK government to heavily increase the admin involved in all company…
Budget time is upon us again. For a pre-election budget there was very little in the way of tax giveaways or movements to reduce the tax burden on UK businesses and taxpayers. Nonetheless, we have marked out some of the key points clients should be made aware of. Most changes are minor, but the…
Clients who have discussed tax planning with us will be aware that we frequently advise that certain industries are at much higher risk of HMRC activity than others. The industry which is consistently investigated more than any other is the food and hospitality sector – especially takeaways or businesses selling a mix of hot and…
There are many industries and fields where a business can expect to go through their entire career with perhaps one or two HMRC tax investigations at most. Unfortunately, as those who have been in the market for a long time will know this is certainly not the case for business owners in the Takeaway industry.…