Could your business claim R&D tax relief?

In many business owners' minds, research and development conjures up images of laboratories with geeky men and women wearing white coats and believe R&D is the exclusive preserve of the world’s biggest companies involved in science, advanced technology and pharmaceuticals. Well, this is not true. In recent years, your everyday SMEs were responsible for more [...]

How to Make Your Business a success in 2017, with the help of Askews Accountants

As 2016 year end approaches, we rush to get lodge our tax returns. However, we must also think of the future. We expect to finish 2016 with Britain set to leave the EU by 2019 and with Donald Trump elected as President of the US from 20th January 2017. But what does 2017 hold for [...]

Digital revolution for the tax system to cut red tape for British business

Paying tax will become less burdensome for British businesses under plans for a 21st century tax system detailed by HMRC. Plans for the new, streamlined and efficient tax system were issued in a Press Release from the Government, with HMRC and the treasury promising more clarity and less red tape for small businesses. HMRC is [...]

Tough new sanctions announced for offshore tax evaders

Tax evaders are set to face tough new sanctions under plans detailed by HM Revenue and Customs as outlined in a Press Release from HMRC. The proposals will mean that those who do not come forward and pay outstanding taxes from offshore investments and accounts, could face even tougher penalties of up to three times [...]

The April 2016 dividend tax changes – How much will it cost you?

The dividend tax system was overhauled on April 6th 2016, resulting in a significant tax increase for most limited company directors. So what has changed? The Government had issues with the way dividends were being taxed before April 2016 including the dividend tax credit. The scheme originated when Corporation Tax was much higher than it [...]

Buy-to-let – Are you ready for the changes?

This might help some of our Clients understand how the new buy-to-let proposals may affect their plans as a landlord. In last summer's Budget and in the Autumn Statement, the Chancellor introduced several changes affecting anyone buying or owning a buy-to-let property in the UK. It's important that landlords understand these changes as they may [...]

Buy-to-let landlords facing cuts in tax relief

I have had quite a few enquiries from Clients regarding the tax changes affecting buy-to-let property investments since the Summer Budget announcements. The worst affected will potentially have to pay more than double on their investment. In cases where the tax rate payable rises above 100% of profit, this will undermine the financial viability of [...]