The new 130% ‘super deduction’ for investment into plant and machinery could be very useful, but there are important points contained within the “small print” that require careful planning.
The following example, which has been prepared by HMRC, clearly shows the possible appeal of the new tax allowance.
A company spends £10m on qualifying assets.
[i] Under the previous system, the possible tax […]
Should you continue making money from construction, or become a tax expert?
If your business has CIS Gross Status, always remember that you must adhere to strict HMRC rules and deadlines, or that privilege could be removed.
It will hurt your cash-flow if you lose CIS Gross Status because it will cause an immediate drop in income received by your business.
Unfortunately, it is […]
Who would like £4,000?
It’s a “gift” from HMRC.
No there’s no catch and it’s not a trick.
Employment Allowance is a way for eligible employers to pay less Class 1 NI contributions.
When businesses appoint ad+ Chartered Accountants we often find that this allowance has not been claimed. We quickly correct that oversight, and the company is £4,000 better off.
This initiative is typical […]
Would you prefer to take home £36k or £47k?
£50,000 gross is a common amount for local company owners based in Scotland, especially around Glasgow and Lanarkshire.
Many take home only £36k.
ad+ clients take home £47k.
Same gross amount, but £11k more in your pocket. Which would you prefer?
OK . . . that package might not suit you – don’t worry – our Tax […]
An increasing number of local business owners are concerned about future viability of their business.
Unfortunately, several have decided that they can’t see a way to keep trading and are preparing to wind down, or at least contract significantly.
This latest lockdown has hit certain sectors hard – not just those within hospitality and general retail. Perhaps it was “the final straw” […]
We appreciate that business owners are short of time and want technical advice tailored to their needs, and so we invite you to get in touch to discuss how the Budget changes might affect you and your business.
In the meantime here is a brief summary of the business proposals.
1. Employers will welcome the extension Furlough for a further five months, […]