Articles in "Tax"

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Glossary

HMRC U-turns on tax treatment of double cab pick-ups

20.02.2024
Shaun Davison
Tax
1 min read

On 12 February 2024, HMRC issued new tax guidance on the tax treatment of double cab pick-up trucks, which classified them as cars, opposed to commercial vehicles, for benefit in kind (BIK) and capital allowance purposes.

Lovewell Blake appoints two new managers

02.01.2024
The Marketing Team
Tax, News, Careers
2 min read

Chartered accountants Lovewell Blake has announced the appointment of two new managers, following promotions within the firm.

Tax implications on employee Christmas gifts

06.12.2023
James Rix
Tax
3 min read

As we approach the festive season, one question we are commonly asked is what the tax implications are to gifts we provide to our staff.

Our Autumn Statement reaction

23.11.2023
The marketing team
Tax
5 min read

The Chancellor announced the Autumn Statement on 22nd November, Shaun Davison and James Shipp give their initial reaction.

Shaun Davison

When there’s no benefit to child benefit

24.10.2023
Shaun Davison
Tax
4 min read

You are entitled to Child Benefit payments if you are responsible for bringing up a child who is under 16, or under 20 if they stay in approved education or training. It is a non-taxable benefit, which can be claimed at a current rate of £24 per week for your eldest (or only) child, and then £15.90 per week for each further child. Although Child Benefit isn’t means tested and isn’t taxable as such, you may be subject to a tax charge to essentially ‘claw back’ some or all of the benefit if income exceeds £50,000. This is called the High Income Child Benefit Charge (HICBC).

The return and importance of Individual Savings Accounts

13.10.2023
Calvin Roll
Tax
2 min read

For over a decade interest rates had been at a historic low and in the last 18 months have perhaps returned to ‘normal’. Whilst that is bad news for borrowers it brings some welcome returns to those with savings, but could the taxman come calling?

Exit planning – substantial shareholding exemption

12.10.2023
Sam Palmer
Corporate Finance, Tax
3 min read

The optimal time to sell a business can be influenced by the potential tax implications. UK Corporate sellers can claim the “substantial shareholding exemption” (“SSE”) to exempt a gain on a sale from corporation tax.

Why the taxman is encouraging you to drive electric

31.08.2023
Calvin Roll
Tax
4 min read

There are significant tax advantages to choosing an EV in addition to the environmental benefits, say Calvin Roll and Nathan Bowden of Lovewell Blake.

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