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R&D Tax Credits Explained

Posted by on 4.12.24 in Knowledge Base

Various incentive schemes exist to encourage UK companies to invest in innovation, including R&D Tax Credits. HMRC estimates that for every £1 forgone in tax, through Research and Development Tax Credits, £1.53–£2.35 is stimulated in R&D spend by UK companies. What are R&D Tax Credits? Research and Development Tax Relief schemes were introduced by the […]

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Spring Budget Updates 2024

Posted by on 3.10.24 in Uncategorized, Updates

In the budget announcement on 6th March 2024 Chancellor-of-the Exchequer, Jeremy Hunt outlined the plans to boost the economy by cutting taxes and boost public spending. One of the most expected changes to current taxes has arrived. Government has decided to reduce Employee’s National Insurance from 10% to 8%. ‍The main changes in the Spring budget […]

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UK Property Tax Guide

Posted by on 2.2.24 in Knowledge Base

Landlords typically need to pay property tax on the profit generated from rental properties. Simply put the profit is the difference between the rental income and the deducted expenses or allowances. Rental profits are taxed at the same rates as income you receive from your business or employment – 0%, 20%, 40% or 45%, depending […]

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Do i need to register for Self-Assessment

Posted by on 1.31.24 in Knowledge Base

There are a number of reasons why a taxpayer needs to complete a Self-Assessment tax return. This includes if they are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or property. Taxpayers that need to complete a Self-Assessment tax return for the first time should […]

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Cryptocurrency Tax

Posted by on 1.31.24 in Updates

The rapid growth in cryptocurrency and distributed ledger technology has seen an influx of new cryptocurrency business, traders and investors which has attracted significant attention from HMRC and other tax authorities worldwide. As a result, HMRC are actively enquiring into crypto businesses, traders and investors to ensure that all individuals and businesses involved in cryptocurrency […]

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