Tax Year as we know it to stay, at least for now...

The Office of Tax Simplification ‘OTS’ published a document in June 2021 setting out its intention to review the benefits, costs and wider implications of changing the end of the tax year to either 31 March or 31 December. The UK tax year currently runs to 5th April each year.

Investing in the family business

I wear a lot of hats at AAB, two of which are leading a team that supports our family business clients; and Corporate Finance partner, where I help clients to grow their businesses through investment, acquisition or refreshed strategic thinking. These two roles don’t come together as often as I’d like, as family businesses can often delay decisions that are more strategic than operational. Why this is the case is an interesting question, and it varies from business to business. It could be a reluctance to change, or a desire to remain what we would call ‘a lifestyle business’, or the family dynamics may make the conversation seem too difficult.

Don’t be late - register for Self Assessment before 5 October 2021

Have you become chargeable to income tax or capital gains tax for the first time? Now is the time to notify HMRC.

Residential Property Developer? Take note of increased government attention

The government is proposing to introduce a new tax, Residential Property Developer Tax (‘RPDT’), from April 2022 on profits made by large residential property developers.

Have you claimed the cash benefit your R&D can deliver?

A common misconception about the additional tax relief available to companies undertaking Research and Development (‘R&D’) activities is that it is only available for companies that are in high tech or scientific industries. However, this couldn’t be further from the truth. 

Public Sector Special Severance Payments (SSP)

The Treasury has issued new guidance which relates to 'Special Severance Payments' (SSPs) made by public sector employers to their employees.

National Insurance increase - Is this the beginning of a slippery slope of tax rises?

National Insurance Contributions

Surviving current and future challenges in Construction

After trading through the uncertainty of 2020, Scotland's construction sector is not out of the woods yet.  

Data Analytics: the future is already here

If you type “What is the future of audit?” into Google (other search engines are available) there are a range of themes and opinions evident. One prediction is the break-up of the dominance held by the global audit firms leading to increased competitiveness. Another is the shifting of stakeholder expectations from the traditional mantra of auditors being “watchdogs and not bloodhounds” in the wake of numerous high-profile failures. There is also the concern that the audit process does not add value because it is too focused on the past.

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