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Capital Allowances (CA’s) explained

Capital Allowances (CA’s) explained

All businesses are taxed on their profits which are essentially, sales less allowable expenses. Revenue costs, better known as trading expenses, can be claimed in full in the year of expenditure. However, if a business purchases an item that will have a lasting...
Prepare for the new 12.5% VAT rate

Prepare for the new 12.5% VAT rate

With all of the hullabaloo over Boris’s National Insurance levy, many of you may have missed the announcement of changes in VAT rates, with most sales by the hospitality industry set to carry 12.5% VAT from 1st October 2021. Which beggars the question: can your...
Will Boris’s National Insurance rise work?

Will Boris’s National Insurance rise work?

On Tuesday Prime Minister Boris Johnson announced a 1.25% increase in National Insurance from April 2022 to stem the post-Covid health and social care crisis, together with a similar rise in the tax on dividends. He was then accused of breaking a manifesto promise not...