Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
30 July 2024
Autumn budget day confirmed and latest tax changes announcedOver recent months in the run up to the general election it has, in tax terms, been ‘all quiet on the Western Front’. Monday’s announcement that the UK budget will be on 30 October and the release of draft tax legislation for Finance Bill 2024-25 changed all of that and what is clear is Labour are following through on pre-election pledges.
Greg Sutherland & Laura Hay
23 July 2024
Higher interest rates charged by HMRC on late payments of Corporation TaxFollowing on from the article published on 8 March 2023 regarding the new corporation tax rates, this article looks into the different payment dates of Quarterly Instalment Payments (QIPS) under the large and very large QIP regimes, the higher interest rates being charged by HMRC on late/underpaid amounts of Corporation Tax and the anticipated direction of travel by HMRC in relation to penalties being charged on the non-payment (or deliberate underpayment) of QIPS.
04 July 2024
A drop in EIS/SEIS Investment - but what’s on the horizon?In slightly unwelcome news, data has been released by HMRC and published recently in Taxation Magazine, which shows that for the tax year 2022/23, Enterprise Investment Scheme (EIS) investment is down by approximately 15% on the previous year, and fewer companies actually raised investment. and
Andrew McMillan & David Ward
Tax Partners
24 April 2024
R&D claims: The ongoing impact of HMRC’s new approachhe research and development (“R&D”) tax relief system is designed to encourage investment in innovation and drive economic growth. From April 2024, a new single merged R&D scheme came into force for most businesses. Both the existing and new schemes allow eligible companies to claim tax relief either by way of a reduction to corporation tax that would otherwise be due or, in certain circumstances, via a cash payment.
23 November 2023
Autumn Statement 2023: big money for business and pennies in the pockets of workersSusie Walker, Partner and Head of Tax, has commented on the Autumn Statement 2023. She said: “There was big money for big business, and a few extra pounds in the pockets of workers, but little to encourage or inspire start-ups and SMEs in the Chancellor’s Autumn Statement.” Read more here.
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