Saving for a rainy day

May 12th, 2022

The more draconian government interventions introduced to control the COVID outbreak have challenged all of us, businesses and individuals, to consider the notion that we can no longer rely on our jobs or businesses to effortlessly produce the income we need. Many businesses in the hospitality and entertainment sectors had their ability to trade quashed. […]

Elastic or inelastic?

May 11th, 2022

Would demand for the products or services you sell vary with price increases or decreases? This conundrum is considered by the term elasticity in economic circles – how demand changes when prices change. If demand for your products is elastic, any change in price will have a corresponding impact in demand. For example, if you […]

Investing to increase profits

May 5th, 2022

The UK tax code has numerous reliefs and allowances that reduce tax when businesses invest in qualifying assets. Some of the reliefs allow up to 100% of the invested cost to be written off against taxable profits and companies can presently write-off 130% of qualifying expenditure. But aside from these tax incentives to invest, it […]

High energy industries attract increased support

May 4th, 2022

The other side of the recent hikes in consumer energy costs – taking their toll on take-home pay across the UK – are the similar cost increases for industry. Focussing on high-energy users, the government recently announced the following increased support for Energy Intensive Industries (IEE). High energy usage businesses, such as steel and paper […]

Tax Diary May/June 2022

May 3rd, 2022

1 May 2022 – Due date for corporation tax due for the year ended 30 July 2021. 19 May 2022 – PAYE and NIC deductions due for month ended 5 May 2022. (If you pay your tax electronically the due date is 22 May 2022). 19 May 2022 – Filing deadline for the CIS300 monthly […]

New internet laws return to Parliament

May 3rd, 2022

Parliamentarians will debate the government’s ground-breaking Online Safety Bill which requires social media platforms, search engines and other apps and websites allowing people to post content to improve the way they protect their users. Ofcom, the regulator, will have the power to fine companies failing to comply with the laws up to ten per cent […]

Using your private vehicle for business journeys

May 3rd, 2022

Employers can pay employees a fixed rate per mile to cover the costs of using their own vehicles on company business. The present agreed rates per mile are: Cars and vans – 45p per mile for the first 10,000 miles and then 25p per mile. Motorcycles – 24p per mile. Bikes – 20p per mile. […]