Author Archive for: Camilla

Entries by Camilla Langricks

Reporting CGT on the sale of UK residential property explained

The requirement to report and pay capital gains tax on disposals of UK residential property was introduced in April 2020.  However, the reduction of the annual exempt amount to £6,000 in 2023/24 (with a further reduction to £3,000 in 2024/25) means that more people will now be caught and need to be aware of this. […]

The savings tax trap continues to bite in 2023/24

It might surprise you to know that HMRC collected £3.4bn worth of savings tax last year, a rapid increase of £1.2bn from the year before. This significant rise is due to the frozen savings allowances and the recent changes in the interest rate cycle, with ever rising interest rates benefitting more individuals compared to the […]

New Wilmslow office

Back in June we finally moved into our new office building in Wilmslow.   1 Swan Street used to be the old Sketchers building to those in the know. It is right in the centre of Wilmslow just a stone’s throw from the station and all the shops and amenities.   Over the course of […]

How to manage the Corporation Tax rises

From 1st April 2023 the main rate of corporation tax increased from 19% to 25% in the following way:   19% for companies with profits below £50,000  26.5%, marginal relief, for companies with profits between £50,000 and £250,000  25% for companies with profits above £250,000   How companies can reduce their taxable profits   Pay pension contribution Buy equipment […]

How do business owners protect their loved ones if the worst happens

Many adults understand the need for financial resilience and taking out insurance to protect their incomes in case of sickness or accident. However, too many self-employed people do not have any cover to help them should they be unable to work and are increasingly likely to choose to carry on working despite illness or injury. […]

New rules apply for making an R & D claim

For accounting periods that start on or after 1st April 2023, companies that wish to claim Research and Development (R&D) tax relief will need to comply with additional reporting requirements. Previously, companies have been able to make a claim via their company tax return, within a period of 2 years following the end of the […]

P11d’os and don’ts

What is a P11D?​ A P11D is a document used by an employer to report to an individual employee or director any expenses or benefits given to them in a given tax year. This will then be submitted to HMRC to inform them of any taxable benefits provided, so they can update the tax code […]

2 new charities announced as the beneficiaries of this year’s charity golf day

This year our chosen charities are YCC (Yorkshire Children’s Centre) and The Wooden Spoon. YCC was founded in 1974 and is a charity based in Huddersfield Town Centre that supports vulnerable and disadvantaged children, young people, and their families within Kirklees and the surrounding areas. They provide early interventions and medium to longer-term support for children […]

What should Private Clients expect in next week’s Autumn Statement?

With just a week to go before the new Chancellor of the Exchequer (it’s Jeremy Hunt in case you are not keeping up with recent developments !!) stands up in Parliament to deliver an Autumn Statement designed to fill the Treasury’s £40bn, sorry I meant £50bn, no its now £60bn, black hole – here are […]