With only a month to go there is still time to save some tax with some end of year tax planning. Here are some ideas: Use your spouse’s personal allowance If your spouse is a lower rate or non-taxpayer, it’s possible for them to transfer 20% of their unused personal allowance to their spouse […]
Last Minute End Of Year Tax Planning For Individuals Read More »
When your year end is approaching it’s important to take the opportunity to think about any actions you need to take to manage your tax bill. Many of these actions actually need the transactions to be carried out before the end date and can’t be backdated. Some of these actions have cash flow and balance
End Of Year Tax Planning For Limited Companies Read More »
As we mentioned in our budget blog post the 5% VAT rate that was brought in in 2020 is going to be extended. The broad details are: The temporary reduced rate of VAT of 5% will be extended until 30 September 2021 There will be a new rate of 12.5% from 1 October 2021 to
Hospitality 5% VAT Extension Until September Read More »
INTRODUCTION The Chancellor’s second real budget on the 3rd of March made some important business announcements to try and mitigate the effects of the pandemic and also to start rebuilding the nation’s finances for the future. Below we list some of the most important announcements that will affect individuals and small businesses in Scotland. The
March 21 UK Budget Update Read More »
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