Income Tax Reporting and the Digital Era

Making Tax Digital (“MTD”) for Income Tax has been talked about for many years now. The idea that the tax return process can be completed by third parties providing all relevant information to HMRC is still a long way off, but it is the direction HMRC are heading. A pre-populated tax return sounds like a great solution and is what HMRC hope to achieve but there are lots of moving parts.

Funding scale-up tech businesses

The quantity and quality of scale-up technology businesses continues to increase in Scotland with technology incubators such as ONE in Aberdeen, Codebase in Edinburgh and Stirling and universities such as Heriot Watt, Napier and Strathclyde providing a clear pathway for entrepreneurs to turn their ideas into a business.

Annual Tax on Enveloped Dwellings (ATED) – Does your company have an obligation to file a return this month?

What is ATED?

Can your charity adapt overnight?

Many businesses have had to think on their feet in the past year as a result of COVID-19, but none more so than those in the charitable sector. The pandemic has provided new challenges, not only in providing core services to those in need but also in keeping on top of the day-to-day finances.

How could Inheritance Tax & Business Relief impact your family business?

Business Owners will most likely be aware of the important Inheritance Tax (“IHT”) relief currently available on the value of their businesses. Business Relief (“BR”) can relieve the full value of the business and it has long been recognised that the policy objective behind the relief is to prevent the breaking up or sale of businesses on death. Whilst this may be hugely advantageous for all businesses, the benefit is perhaps most keenly felt by family businesses where the legacy is as much about heritage and history as it is about a continuing trade. 

Budget 2021 – Enhanced Value of R&D for Companies

The cost to the taxpayer of Covid by the end of the next financial year is predicted to be £407 billion, much of which has been funded by debt. 

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