Corporation Tax: could you be missing out on tax reliefs?
Knowing which taxes your business is liable for can feel a bit overwhelming, which can result in you not recognising opportunities to save on tax.
Knowing which taxes your business is liable for can feel a bit overwhelming, which can result in you not recognising opportunities to save on tax.
First announced by the Chancellor in the Spring Statement, changes to the Employment Allowance, worth up to £1,000 for eligible small businesses, came into effect on 6 April.
The hard-pressed hospitality industry is facing some difficult choices after the temporary cut in VAT to 12.5 per cent reverted to the full 20 per cent. It will result in double-digit price increases for consumers as operators struggle to survive, leading industry body UKHospitality says.
Deciding to start your own business can feel like a leap of faith but being prepared for the steps you will need to take can ameliorate this lack of confidence.
The introduction of new legislation to protect businesses forced to close or partially close during the pandemic has been welcomed by a leading hospitality trade body.
A major change in the way VAT is reported comes into force from tomorrow. Every small business that charges VAT will have to file accounts through the HM Revenue & Customs (HMRC) Making Tax Digital (MTD) system.
Many are feeling the impact of the increasing cost of living on their finances, with the inflation rate soaring to a 30 year high of 6.2 per cent in February.
Hopes that the temporary VAT cut for hospitality would be extended were dashed in Chancellor Rishi Sunak’s Spring Statement this week.
As the war in Ukraine rages, UK SMEs are facing new import and export headaches on top of any problems already being experienced with Brexit.
Raising revenue is often one of the key objectives for small and medium-sized businesses (SMEs), however it can be a difficult process to navigate.
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