News and insights
Corporate taxes
  • 25
  • May
The UK is Set to Plummet 16 Places in the Global CT League Table

The UK Government’s decision to put up Corporation Tax from 19% to 25%, taking effect from next April, will cause the country to fall 16 places on the global ‘league table’ for corporate tax, from sixth to 21st.  That is the finding of new research reported by Accountancy Today and shows the stark impact of…

Plymouth fishing industry
  • 20
  • May
Fisheries and Seafood Scheme Relaunched

Marine Management Organisation Relaunch the Fisheries and Seafood Scheme The Marine Management Organisation (MMO) has relaunched the Fisheries and Seafood Scheme to safeguard the long-term sustainability, resilience and prosperity of the English seafood sector. The Government has set aside at least £6 million in funding for each year until April 2025. The scheme aims to…

Increased NIC affect how you budget for the year
  • 14
  • Apr
Changes to National Insurance Contributions – How Does it Affect Company Directors?

The changes in National Insurance Contributions (NIC) that came into force in April 2022 impact directors and employees. The increase in NIC affects employers and employees in different ways, but how does it affect you as a director? Also, what should you be thinking about to efficiently manage the increase in your outgoings and the…

Tax Increases Salary & Dividend Combinations
  • 12
  • Apr
The Best Dividends and Salary Combinations for 2022/23

The tax rates and allowances for the new tax year have already been published, and the National Insurance contributions have been shrouded in controversy. Which leaves us questioning, what is the best combination of salary and dividends for the upcoming tax year? The Spring 2022 Budget confirmed the employee NIC threshold for 2022/23 has increased…

SME Optimism
  • 6
  • Apr
‘Four in 10’ UK Small Businesses Intending to Recruit New Staff During 2022

With each passing day, it seems that more evidence is filtering through of rising business optimism in the UK. One such indicator of this is an article from Business Leader, citing a private equity house’s report that claimed the British economy saw its quickest annual growth rate on record in 2021.  What exactly did the…

Manufacturing Sector
  • 4
  • Apr
Manufacturers in South West England ‘lead the UK for job creation in 2022’

The findings of a new quarterly survey, as reported by the BusinessLive website, have revealed that the manufacturing sector in the South West has enjoyed a strong start to 2022, and is even leading the country in creating jobs.  The most recent quarterly manufacturing outlook survey from the organisation Make UK, which represents manufacturers across…

Online Sales Tax
  • 8
  • Mar
UK Government publishes early-stage consultation on possible Online Sales Tax

On 25th February, HM Treasury confirmed that the UK Government had set out an early-stage consultation in relation to the potential implementation of an Online Sales Tax (OST), considering reasons both for and against such a tax.  Why has the Government made this move now?  It was announced at the time of the Autumn Budget…

Video Game Tax Relief
  • 4
  • Mar
Game Developers are Hopeful for 2022 – New TIGA Research

Research conducted by The Independent Game Developers’ Association (TIGA) in December 2021 shows that almost three-quarters of UK games companies are expecting to see the industry grow in 2022.  What does it mean for the accountancy industry? With the rise of game developer companies, there will undoubtedly be a rise in Video Games Tax Relief…

Cryptocurrencies on the rise
  • 28
  • Feb
JPMorgan Believe Cryptocurrencies will have Widespread Adoption in 2022

The big American investment bank JPMorgan has predicted that cryptocurrency will have a much broader acceptance in 2022 from mainstream investors and companies. Earlier this year, JPMorgan equity research analyst Kenneth Worthington claimed that 2022 could be when cryptos become more mainstream within the financial world. He stated:  “2022 has the potential to be the…

Cryptocurrency tax services
  • 19
  • Jan
Crypto Tax – An Opportunity for Accountants in the Digital Era

Cryptocurrencies are building themselves a niche within the accounting world. A growing number of traders now seek the help of accountants for crypto tax calculations and record-keeping. But the question remains, should accountants dive into this growing market?   Regardless of your opinion on cryptocurrencies, there is no escaping the fact that they are becoming…

Sustainable workplace travel grant
  • 5
  • Jan
Plymouth Work Place Travel Grant

Urgent notice for Plymouth businesses! The deadline for applying for a Plymouth workplace travel grant is the 31st of January 2022. After events such as COP26, the UK’s priority is to move towards zero emissions across all sectors. To achieve that mission, there is help on offer for businesses looking to reduce their emissions. Besides…

Tribunal case
  • 4
  • Jan
Subsidised R&D Tribunal Case – RDEC vs SME

A London company recently took HMRC to the tribunal regarding a denied R&D SME Scheme tax credit claim. Here is their success story. Having a Research and Development (R&D) tax credit claim denied can be frustrating. However, there is the option of taking HMRC to the tribunal if you feel they wrongly denied your claim.…