As we come out of the coronavirus pandemic, the various support packages which were available to individuals and businesses during this difficult time are fast becoming a thing of the past. It can therefore be easy to forget that there remains a more general support...
This week, in the last of our three-part series on the valuable tax reliefs available from EIS investments, we look at the capital gains tax (CGT) exemption. Conditions for the exemption to apply In order to get the CGT exemption, the taxpayer must have been eligible...
In our last Tax Tuesday, we considered EIS reinvestment relief (linked here) whereby an investment in shares in a qualifying EIS company can be used to defer a capital gain so it only ultimately comes into charge on the sale of the EIS shares themselves. This week we...
As previously announced by the government, increased NIC started to apply on 6 April 2022. The rate of employer’s NIC above the ‘secondary threshold’ (currently £9,100 per annum) is now 15.05%, up by 1.25% from the previous 13.8%. Below the secondary threshold, the...
Currently the rate of corporation tax is a flat 19% of taxable profits. As part of the government’s plan to recover financially from COVID, from 1 April 2023 the rate of corporation tax will increase to 25% for companies with taxable profits of over £250,000 per...
Download our Spring Statement Summary Report here Harold Sharp’s Summary Report provides a full round-up of the announcements that might impact you and your business. Below we provide our initial reflections on the Statement. In this year’s Spring Statement, the...
