by Gary Woosey | Nov 8, 2022 | Tax
Capital Gains Tax (CGT) is a tax applied on the profit you receive when disposing of an asset. You are not taxed on the amount of money you receive, but on the gain you make. For example, if you bought something for £10,000 and sold it for £20,000, you’ve made a gain...
by Gary Woosey | Nov 1, 2022 | Tax
Many UK employers are topping up pay packets of valued employees with a cost-of-living payment when they are unable to offer a pay rise. The Chartered Institute of Personnel and Development (CIPD) summer Labour Market Outlook for 2022 found that 15 per cent of...
by Gary Woosey | Oct 18, 2022 | Tax
Recent plans to reintroduce tax-free shopping for international visitors in the UK have been scrapped. Last month, former Chancellor, Kwasi Kwarteng reintroduced tax-free shopping as part of his mini-Budget. However, the new Chancellor, Jeremy Hunt, repealed this...
by Gary Woosey | Oct 11, 2022 | Tax
When running a business, ensuring you get VAT right is vital. So, how can you make things easier? Designed to streamline record-keeping, the VAT Flat Rate Scheme allows you to pay or claim back a simplified fixed rate of VAT to HMRC. This typically allows you to keep...
by Gary Woosey | Sep 27, 2022 | Tax
Chancellor Kwasi Kwarteng’s mini-Budget has scrapped a planned rise in Corporation Tax as part of a wide-ranging raft of tax-cutting measures announced last week. The Government says the move to scrap the rise will save £18.7 billion per year by 2026 as it...
by Gary Woosey | Sep 23, 2022 | Tax
With a new King at the Palace and a new Prime Minister at Number 10, it was no surprise that the new Chancellor at Number 11 used his first statement to the House of Commons to signal a “new era” for fiscal policy. It turned out to be a striking change of...
