In the news: February 2024 In this month’s news, we look at the potential and pitfalls of tax cuts at the Spring Budget. We also update you on the tax implications of trading in cryptoassets and take a look at calls to raise the VAT threshold. With news on global trade and the advance [...]
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Tax Year End Planning The ideal time to take stock Tax rates and allowances Tax and the family Family companies: assess profit extraction strategy Keep up to date with pension planning opportunities Unincorporated businesses: plan for major change Invest tax efficiently Take stock of capital gains tax rules and changes Use Gift Aid effectively The [...]
In the news January 2024 In this month’s Enews, we look at the upcoming Spring Budget and the latest on the UK economy. We also update you on the latest on off payroll working compliance and the self assessment deadline. With news on export red tape and protection from energy costs for business, there [...]
As we come to the end of another rollercoaster of a year, we would like to thank the LKA community of clients, staff and suppliers for your ongoing support. We are all looking forward to what 2024 has to offer and wish you and your families a well-deserved rest and recharge. At this time [...]
Financial gifts can make a huge difference for children and grandchildren, but it is essential to make sure they are tax-efficient from an IHT perspective. This Christmas, some of the best ways to give financially include gifting from surplus income, Junior ISAs and bare trusts. You could also make use of annual exemptions, small [...]
In the news - December 2023 In this month’s Enews we look at what the Chancellor’s Autumn Statement meant for businesses, employees and the self-employed. We also update you on the criticism of HMRC’s Making Tax Digital programme and a crackdown on crypto tax evasion. With the latest data on the UK economy and the [...]
As the impact of Covid19 on the workplace has receded, HMRC have updated their guidance on their rules for making a claim for costs when working from home. Where we have perhaps seen a light touch approach in this area for a couple of years, we believe that this is an area that HMRC [...]
Registering with the ICO - Ensuring Compliance for SMEs Written by Sarah-Jane Butler and Sarah Taylor from Farringford Legal, this article outlines the importance of compliance with data protection laws and why it may be necessary for SMEs to register with the Information Commissioner's Office (ICO). In today's digital age, the processing of personal [...]
Puzzling over whether that quick lunch or client dinner can be claimed on your VAT return? If so, you're not alone. This is something that a lot of business owners struggle with. Why? Because the rules around food and drink expenses are anything but straightforward. While it can be complicated, it is still essential [...]
What to expect when HMRC chooses you for an investigation Many businesses dread getting that brown envelope with "HMRC" written on it. It seems to immediately evoke a sense of apprehension before it's even opened. However, while it can be nerve-wracking, there's no need to panic. Not if you've done everything you can to [...]
The Autumn Budget 2023 - What does it mean for you? On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were significant statements relating to National Insurance changes and [...]