Are you a shareholder in a small business? Do you have plans to sell or transfer your business? Is it time to bring forward your exit plan? Starting next tax year, small business owners and those eligible for Business Asset Disposal Relief (BADR) will experience increased tax rates. In fact, an increase already happened in […]
Author Archives: Priya Raja-Motala
14
May
May
Over the past few years, many business owners have faced a series of challenges, including global pandemics, war, high inflation, supply chain disruptions, and recently threats of tariffs. Additionally, the rapid and sometimes unsettling rise of technologies like artificial intelligence adds to the mix. These issues are not just headlines; they are real experiences that […]
30
Apr
Apr
Directors loan account, what is it? A director’s loan account (DLA) records transactions between the director and the company. It is a record of either money lent to the company or borrowed from the company. The tax treatment of these transactions depends on whether you have lent money to the company or are borrowing from […]
23
Apr
Apr
It’s easy for small businesses to overlook the implications of Making Tax Digital (MTD), especially since it has been delayed a few times over recent years. However, we can confirm that MTD is coming, and the countdown has already begun! Staying informed about these changes can be challenging, but we are here to support you […]
16
Apr
Apr
Tax often receives a negative perception, but it shouldn’t. It’s about understanding the tax rules and systems and using them to your best advantage. So, what do mean by tax planning? Business Tax Planning Effective tax planning is important for your business if you are aiming to maximise profits, ensure compliance, and prepare for sustainable […]
08
Apr
Apr
If you’ve been hiking in the wilderness or simply taking some time out from the news, you may have missed that we are currently experiencing challenging trade wars. Otherwise, you will all know that the USA has imposed trade tariffs on most countries worldwide, including ours. This has contributed to the fact that the economic […]
02
Apr
Apr
As you know the UK tax year runs from April 6th to April 5th. A system that has been in place for centuries. This peculiar timeframe often puzzles people, but it is more a long-standing tradition than a mistake. This quirky tradition dates to 1582. Before that, the UK operated on the Julian calendar, which […]
27
Mar
Mar
The Labour government has reiterated its commitment to ensuring security, increasing disposable income, and improving living standards for working people. So, what does the Spring Statement mean for you? You are business owner It is crucial to note the significant changes that will take effect from 6 April 2025 regarding both the national minimum wage […]
18
Mar
Mar
It wasn’t that long ago when we were discussing whether Inheritance Tax (IHT) would be abolished, how fortunes have changed. A few months into the Labour government we saw the complete opposite. During the Autumn Budget last October and the first one for Labour in as many years, it was confirmed that IHT would stay! […]
12
Mar
Mar
You may already know there is an opportunity to make up for any “lost years” regarding your state pension. There can be various reasons for these lost years, but the important point is that the 5th April 2025 deadline is approaching quickly. It’s essential now to familiarise yourself with the state pension rules. The state […]