Applying for business start-up loans
Securing funding for a new startup is one of the most critical steps in ensuring the success of a business venture. However, obtaining financing can often be challenging. For instance, traditional
Bank of England eases base rate to 4.75%
The Bank of England’s recent decision to reduce the base rate to 4.75% brings several potential benefits to various sectors of the UK economy. Let’s explore these advantages in detail.
Reduced
Thinking of selling your business?
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. When the relief if available, Capital Gains
Update on the tax status of Double Cab Pick Ups
HMRC had published an update, on 12 February 2024, on the tax status of Double Cab Pick Ups (DCPUs), following a 2020 Court of Appeal judgment. The update announced that effective from 1 July 2024,
Exempt company purchase of own shares
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions (usually described as dividends) and may be subject to Income Tax.
If certain
Company share buy-backs
Company share buy-backs are also commonly known as a company purchase of own shares. A company may decide to buy back their shares for a number of reasons including to return cash to shareholders or
Scotland’s non-domestic rates reliefs
Business rates is the commonly used term for non-domestic property rates. Business rates are charged on most non-domestic premises, including most commercial properties such as shops, offices, pubs,
Post-cessation receipts and expenses
Tax relief may be available for post-cessation expenses of a trade. In order to be an allowable post-cessation expense, the trade must have ceased, and the expense must have been deductible in
Basis of assessment changing
Forthcoming ‘basis of assessment’ reforms will change the way trading income is allocated to tax years for the self-employed. The changes will affect sole traders and partnerships that use an
Farming – using the herd basis
There are special rules which can apply to farmers and market gardeners that prepare their accounts on accruals basis. This includes special rules for farmers’ averaging relief, dealing with losses
