Category Archive Tax

Potential tax increases and their impact on businesses

July 10, 2024 Comments Off on Potential tax increases and their impact on businesses By Joshua Leigh & Co

In recent reports, former Prime Minister Sir Tony Blair has forecasted potential tax increases that could have an impact on businesses across the UK.

The Tony Blair Institute’s chief economist predicts taxes may need to rise by 1.9 percentage points of GDP by the end of this Parliament to stabilise debt, potentially equating to over £50 billion.

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Will Labour’s agenda in the King’s Speech signal major tax changes for businesses in 2025?

July 9, 2024 Comments Off on Will Labour’s agenda in the King’s Speech signal major tax changes for businesses in 2025? By Joshua Leigh & Co

As the opening of Parliament approaches on 17 July, businesses across the country are bracing for the King’s Speech, which is expected to outline the Labour Government’s legislative priorities for the coming year.

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Thinking of investing in electric cars for your business? – Here’s what you need to know

June 18, 2024 Comments Off on Thinking of investing in electric cars for your business? – Here’s what you need to know By Joshua Leigh & Co

The number of electric cars on our roads is rising rapidly. In 2023 alone, the number of new electric vehicles rose by 18 per cent and there are now some, 1.1 million fully electric cars on UK roads, according to official figures from April 2024.

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AI in tax investigations – What does it mean for you?

June 5, 2024 Comments Off on AI in tax investigations – What does it mean for you? By Joshua Leigh & Co

Artificial intelligence (AI) is undoubtedly a major trend in accountancy and tax, with many firms, business clients and Government agencies recognising its benefits and adopting it.

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Are you optimising profit extraction from your business?

May 29, 2024 Comments Off on Are you optimising profit extraction from your business? By Joshua Leigh & Co

If you’re a business owner of a limited company, it’s important that you know how to make the most of your after-tax profit to support your personal financial health – known as profit extraction.

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Director’s loans – A missed tax planning opportunity?

May 28, 2024 Comments Off on Director’s loans – A missed tax planning opportunity? By Joshua Leigh & Co

A director’s loan is a form of profit extraction from your company, often used alongside salaries, dividends and expenses.  

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Is incorporation still the way to go for solid financial planning?

May 22, 2024 Comments Off on Is incorporation still the way to go for solid financial planning? By Joshua Leigh & Co

From a tax planning perspective, incorporation of a business into a limited company has long been considered the gold standard in business development and growth – but is this still the right move?

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Streamlining your payroll set-up with employment and tax records

May 21, 2024 Comments Off on Streamlining your payroll set-up with employment and tax records By Joshua Leigh & Co

When your business takes on a new employee, we know that you’re eager to get them settled into their role – but not before you’ve completed the right checks and set them up in your payroll system!

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Earning between £100,000 and £150,000? Your tax return is changing

May 15, 2024 Comments Off on Earning between £100,000 and £150,000? Your tax return is changing By Joshua Leigh & Co

If you’re a high earner with between £100,000 and £150,000 in net adjusted income, you’ll soon receive a letter from HM Revenue & Customs (HMRC) regarding whether you need to continue submitting a Self-Assessment tax return.

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Furnished residential lets vs Furnished Holiday Lets – The tax situation

May 14, 2024 Comments Off on Furnished residential lets vs Furnished Holiday Lets – The tax situation By Joshua Leigh & Co

If you’ve invested in a property to let and furnished it, you will be liable to pay tax on the income you receive from letting the property out.

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