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Where possible, taxpayers should apply Gift Aid to any payments to charity to provide a further benefit to the charity. Higher rate taxpayers obtain additional tax relief on the grossed-up…

Many were expecting the chancellor to announce changes to inheritance tax (IHT) in his Autumn budget. However, like capital gains tax (CGT), the rules have remained broadly the same as…

The current business environment is incredibly competitive but as we emerge from the pandemic, consumer demand is increasing, and many sectors have seen labour and material costs rise. As demand…

Many were expecting substantial changes to capital gains tax in the Autumn Budget, particularly as the Office of Tax Simplification (OTS) had suggested that CGT rates should be aligned with…

As announced in the Budget R&D, tax relief will be reformed from April 2023 to support modern research methods by expanding qualifying expenditure to include data and cloud costs, and…

Businesses investing in plant and machinery will welcome yet another extension in the 100% Annual Investment Allowance (AIA) until 31st March 2023. The 100% relief was scheduled to revert to…

The basic rate of income tax and higher rate remain at 20% and 40% respectively, and the 45% additional rate continues to apply to income over £150,000. As previously announced…

Among the announcements leaked before Budget Day was an increase in the hourly rate for the National Living Wage (NLW), which was greater than inflation for those aged 23 or…