Changes to Capital Gains Tax and what this means for you and the CGT 60-day reporting?
From April 2023, there have been year on year reductions to the annual exemption for Capital Gains Tax (CGT), increasing the exposure of individuals to CGT and consequently those required to report the disposal of UK residential property to HMRC within 60-days of completion. The Chancellor did provide a silver lining in the 2024 Spring Budget, announcing the reduction in the higher rate of CGT payable on disposals of residential properties, which applies from April 2024.
Norfolk agribusiness expert chairs global meeting
A global meeting of finance experts working in the agricultural and food sectors, chaired by a leading Norfolk agricultural accountant, has highlighted the many challenges faced by the agribusiness sector in an uncertain world environment, including the need for young farmers to replace aging farmers, the impact of immigration policies on the industry, and the importance of education and training programs.
Don’t forget that seasonal workers need written employment terms too
Providing written terms and conditions - including to seasonal staff - is not just a legal obligation, but hugely beneficial.
When would a charity need to consider refusing or returning a donation?
Most charities spend a lot of effort seeking donations – but sometimes they may need to consider refusing a donation, or returning one which has already been made, says Kyle Smith of Lovewell Blake’s Charities team.
Could the rise in interest rates force you into completing a self-assessment tax return?
How could the changes affect you.
Why is cloud accounting important to hotel owners – Top 5 benefits
Good financial management is essential, especially in businesses where seasonality and variation is such an important factor. The high season needs to be properly managed to maximise profitability. Building in flexibility to your operations and scaling down efficiently without losing good staff long term or over stocking basic consumables is key to ensuring your business remains profitable.
R&D Tax Relief: The Merged Scheme – Subcontracted R&D
The introduction of the new merged R&D tax relief scheme from 1 April 2024 has attempted to clarify the rules surrounding subcontracting expenditure.
IR35 reforms taking their toll on skilled contractors
One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation, according to research published by the Association of Independent Professionals and the Self-Employed (IPSE).