Autumn Budget 2021 update

We have analysed the Autumn Budget 2021 for the key changes relevant to small and medium businesses (SMEs). Please find below the key points which we feel may be of interest to our clients. 1) Payroll taxes / NIC From April 2022 there will be a new employment tax of 1.25% for the Health and… Continue reading Autumn Budget 2021 update

Categorized as Budget

Cap on R&D tax credits

From 1 April 2020 the cash refund for payable R&D tax credits for small and medium size businesses (SMEs) will be limited based on the amount of payroll taxes paid by the company. SMEs can claim upto £20,000 plus 300% of its total PAYE and NIC liability for the period. However, a company is exempt… Continue reading Cap on R&D tax credits

2018 Autumn Budget Update

As usual there are many changes to the 2018 Autumn Budget, however they’re not all relevant to our clients. So here we have set out the important changes that may affect our clients. The 2 main issues are IR35 changes for contractors and limits on R&D cash refunds. We’ve also added a reminder about the… Continue reading 2018 Autumn Budget Update

MiFID II and VAT on Research – still in the dark!

31 October 2017 Although the MiFID II regulation has been published since 2014 (delayed implementation date – 3rd January  2018), it is surprising that H M Revenue & Customs has not yet provided any firm guidance on the VAT treatment of research work. Recent press states that HMRC is now meeting with industry groups and… Continue reading MiFID II and VAT on Research – still in the dark!

EMI Schemes (Enterprise Management Incentive)

EMI schemes (Enterprise Management Incentives) are tax advantaged schemes offered by H M Revenue & Customs to small and medium sized businesses (“SME”) for incentivising the SME’s employees. EMI schemes are share option schemes which fundamentally provide tax savings for both the employee and the SME whilst also providing the facility for the SME to incentivise… Continue reading EMI Schemes (Enterprise Management Incentive)

Setting up company structure

Factors involved in setting up company structure There are different factors involved in setting up company structure and it depends on the type of business, circumstances of the shareholders and their aims for the business.   Shareholders: if you may sell the company and re-invest the profits a holding company may be useful otherwise, the co-founders can… Continue reading Setting up company structure

VAT for non-EU sellers

Is registration required for VAT for non-EU sellers using Fulfilment by Amazon in the UK? This has been in the news recently and HMRC may have lost £2bn in recent times from non-EU sellers who have illegal evaded VAT and have recently announced methods of enforcing the VAT. This is a tricky subject and can get… Continue reading VAT for non-EU sellers

Categorized as VAT