The question of tax relief comes up so much there is always an angle to cover. This time I am going to look at the tax relief available for those that borrow money specifically to introduce to a company. In the main people have borrowed money to lend to a limited company but it is […]
Monthly Archives: March 2025
How much discount should you really be asking for to pay cash? We all know the score. Someone fixes a broken fence, plasters a wall, paints a ceiling or one of the hundreds of other things landlords incur costs for. You ask them how much and they say “less for cash”. Quite how much less, […]
As previously mentioned Making Tax Digital and quarterly reports are incoming. Rachel Reeves confirmed that the threshold for participation has officially been set at £20,000 from April 2028. This is probably a year earlier than she suggested before Christmas. She had said that it would happen before the end of the current parliament. Is […]
Making Tax Digital: A cautious but firm step forward The most significant administrative update was the proposed, phased extension of Making Tax Digital for Income Tax (MTD for IT). The new timeline will see sole-traders and landlords with income over £20,000 required to join from April 2028. Those earning less than £20,000 remain outside of […]
The UK government has recently unveiled a revamped Board of Trade aimed at bolstering the export capabilities and growth of small and medium-sized enterprises (SMEs). This initiative is part of the broader ‘Plan for Change’ strategy, which seeks to empower the nation’s 5.5 million SMEs to expand their reach in global markets. Composition and Objectives […]
The Annual Tax on Enveloped Dwellings is a curious sounding thing. ATED is an unusual sounding thing with dramatic consequences. It is a domestic property tax that is levied on entities that own high value residential properties. Generally this means companies but it can sometimes mean partnerships with a corporate partner and other things. […]
As an accountant, we’ve seen businesses thrive-and seen them struggle. One key difference between those that weather storms and those that flounder is simple: planning. It’s great to be optimistic. No one starts a business expecting it to fail. But while optimism fuels ambition, realism ensures survival. That’s why the old saying holds true: wish […]
As we approach the end of March 2025, anticipation builds around Chancellor Rachel Reeves’s upcoming Spring Statement. Given the current economic landscape, it’s insightful to consider the potential measures she might introduce and their implications for businesses and individuals alike. Economic Context The UK economy faces several challenges: sluggish growth, elevated borrowing costs, and persistent […]
Many UK small businesses rely on imported goods, materials, and components. Trade disruptions-whether due to geopolitical tensions, shipping crises, pandemics, or regulatory changes-can lead to: Delays and shortages, making it harder to meet customer demand. Increased costs, as businesses may need to source alternative, often more expensive, suppliers. Stockpiling and cash flow pressure, where businesses […]
What to Expect As we move further into 2025, the direction of UK interest rates remains a key focus for businesses, homeowners, and investors alike. The Bank of England (BoE) has already adjusted rates, and speculation is rife about what comes next. Current State of Interest Rates The BoE recently reduced the base interest rate […]