Welcome to our autumn newsletter
Our article ‘Are you getting credit?’ looks at the tax incentives on offer for research and development carried out by small and medium (SME) UK companies. This follows the issue of the most recent HMRC statistics which indicate a very low portion of SME companies make claims for the reliefs available so we thought it might be time to take a fresh look at an area which could reap significant benefits.
We also close this edition on an incentive theme with an article ‘Investment incentives to inspire’ with a useful guide to the income tax and capital gains tax savings on offer to the individual investor when they choose to invest in qualifying trading companies through one of the tax-favoured schemes.
Good news is also reflected in ‘Gadzooks’, an article about a new repayment scheme on small donations given to charities. On the flip side to giving, the article ‘Show me the money’ highlights the dangers for the individual of not being able to verify the sources of funds they receive.
If you are an employer then you should read the feature ‘Company car or is it a van?’ as this area of employment taxation is regularly targeted by HMRC. We also include information on the most recent National Minimum Wage rate changes in ‘Lowest paid to get a boost’.
There is also a reminder of how HMRC can flex their powers in ‘What a wind up’, an essential read by individuals and businesses alike, particularly directors, about HMRC’s approach when tax and national insurance is not paid over. In addition don’t expect a sympathetic ear when it comes to penalties for errors as our article ‘Penalty for pensioner’ demonstrates!
Please contact us if you would like us to review your tax position or have any questions regarding any of the articles we have included in our newsletter. Your views are always important to us and we would welcome any feedback you could give us.