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BIG TAX BILLS FOR THE SELF-EMPLOYED IN 2022/23

Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses will be apportioned to...

What does the new super-deduction for equipment mean?

  In the Budget on 3rd March the Chancellor announced a new 130% tax relief for expenditure on new plant and machinery incurred between 1 April 2021 and 31 March 2023. This new tax relief is only available to limited companies and the latest Finance Bill reveals...

How can an accountant help a Sole Trader?

  As a Sole Trader, you’ll find there are many accounting firms out there that don’t and won’t provide a service for you. Often when you do find a firm that will, it’s a once-a-year interaction that doesn’t feel wholly supportive for your year round needs.  At...

NEW YEAR’S RESOLUTIONS TO SAVE TAX

NEW YEAR’S RESOLUTIONS TO SAVE TAX At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5th April. An obvious tax planning point would be to maximise your ISA allowances...