North East based IT solutions firm, Radius Technology Solutions Limited, has launched, seeking to disrupt the traditional IT service market.
Year: 2024
Yorkshire Shadow MPC – May 2024
The MPC is a partnership between Clive Owen LLP and The York Press, which considers the region’s economy and invites business figures to argue their case for a shift, or hold, in the rate.
Will the change in the R&D regime impact the timing of paying tax?
As we have stated previously, a lot more companies will have fallen into the quarterly instalments (QIPs) regime, since 1 April 2023. Following another change from 1 April 2024, the calculation of the profits may also force even more companies into the QIPs regime due to the change in the calculation of R&D tax relief. […]
Higher rate pension relief – important reminder
In simple terms, you may be missing out on tax relief by not realising that you need to claim a higher amount of pension tax relief, if you are a higher rate taxpayer. In addition, the contributions may help reduce the impact of child benefit repayments or keep you below the £100,000 threshold, at which […]
Making use of your inheritance tax allowances
It is often said that inheritance tax (IHT) is a voluntary tax, and one that can be avoided if you give away sufficient assets at least seven years before you die so the value of your estate is sheltered by your available nil rate bands. This is not always practical – people do not generally […]
State pension – is your national insurance record up to date?
Paying National Insurance contributions allows individuals to earn qualifying years, which in turn provides them with entitlement to the state pension and certain contributory benefits. Entitlement may also be provided by the award of National Insurance credits. State pension entitlement A person reaching state pension age on or after 6 April 2016 needs 35 qualifying […]
Multiple dwellings relief – the end is nigh
As announced at the time of the Spring Budget, multiple dwellings relief for stamp duty land tax (SDLT) is to be abolished from 1 June 2024. The relief is available when a purchaser buys two or more dwellings in a single transaction or series of linked transactions. Nature of the relief The relief was introduced […]
Advertising or promotion versus entertainment or hospitality – which gives a tax deduction?
To be allowable as a tax deduction whether under the corporation tax or income tax rules, most expenses must be incurred ‘wholly and exclusively for the purposes of the trade’. Unlike the equivalent rule for employment expenses, the expense is not required to be ‘necessarily’ incurred. This means that as long as an expense is […]
Employer compliance – don’t miss filing deadlines for provisions of benefits-in-kind and shares
Employers who have provided benefits-in-kind to employees, such as company cars, medical insurance, gym memberships or low interest/interest free loans to employees, in the tax year to 5 April 2024, need to report the “cash equivalent” of such benefits to HMRC by 6 July 2024. This is done via the completion of forms P11D. Even […]
Child benefit – is it time to reclaim?
For many years now, child benefit has been repayable to HMRC, if one person in a household receiving child benefit, earns over £50,000. Once that person earned over £60,000 the benefit was fully repayable to HMRC. Given that this meant that the individual would need to complete a tax return, many families opted out of […]