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Cycle to work scheme
The cycle to work scheme was introduced to encourage cycling to work and reduce environmental pollution by providing tax incentives to employers and employees In order to qualify for the relief, the following conditions must be applied: The employer purchases the...
Small company accounts disclosure – can it hurt your business?
An important question that directors and shareholders of small companies should ask their accountant is “what should be disclosed in the company’s financial statements?” It is important to consider whether your small company is disclosing too much, or too little,...
Annual investment allowance increase for capital allowances
The amount of “up-front” tax relief which is available for capital expenditure on plant and machinery, equipment and fixtures and fittings (but not property assets) has been up and down like a yoyo for the last 4-5 years, and this year is no exception. Having reduced...
Changes to capital gains tax entrepreneur’s relief
There were many predictions before this week’s Budget that the Government considered that the 10% capital gains tax rate that applies to the first £10m of gains made by entrepreneurs on business assets was too generous and would be reined in. As it happened, the rules...
Research & development payable tax credit restriction
In this week’s Budget the Chancellor has announced a re-introduction of a restriction to the amount of R&D tax credit relief that can be claimed. This is aimed at preventing abuse of R&D tax relief for small and medium-sized enterprises (SMEs). The restriction...
Off payroll working reforms to be extended from the private sector
Since the reforms for off payroll working were introduced for the public sector, there has been the expectation that this would eventually be introduced to the private sector. The reforms mean that businesses will become responsible for assessing an individual’s...
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