Corporation tax from 1 April 2023

Posted on 9th Mar 2023

Barring any unforeseen changes being announced at next week’s Budget, the Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also be introduced from the same date for...[more]

Valuing an estate for IHT purposes

Posted on 9th Mar 2023

Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax payable is 40% on death and 20% on lifetime gifts. The current IHT nil...[more]

NIC and company directors

Posted on 9th Mar 2023

Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceed the Primary Threshold. The annual threshold is pro-rated to £11,908 this year following the increase to £12,570 from 6 July 2022 (£9,880 from 6 April 2022 – 5...[more]

Adding employees to a workplace pension scheme

Posted on 9th Mar 2023

Automatic enrolment for workplace pensions has helped many employees make a start on providing for their retirement with the advantage that employers and government are also contributing to their pension pot. The law states that employers must automatically enrol workers into a workplace pension if they are...[more]

National Insurance if working abroad

Posted on 9th Mar 2023

If you move abroad, it can often be advantageous to continue paying your UK National Insurance Contributions (NICs) in order to preserve your entitlement to the State Pension and other benefits. If you are working in the EU, Iceland, Liechtenstein, Norway, or Switzerland the rules...[more]

Get information about a company

Posted on 9th Mar 2023

There is a significant amount of information about companies that can be obtained from Companies House. Companies House is responsible for incorporating and dissolving limited companies, examining and storing company information and making company information available to the public. Much of this information is freely available....[more]

Catching up with: Debbie Dolega

Posted on 8th Mar 2023

Debbie Dolega recently returned to Simmons Gainsford. Here, we sit down with the Private Client Tax Partner to discuss her aims for this year and thoughts on the current tax landscape. How are you feeling about returning to SG and what are you most looking...[more]

Debbie Dolega re-joins Simmons Gainsford as Private Client Tax Partner

Posted on 8th Mar 2023

We are delighted to welcome Debbie Dolega – who first joined Simmons Gainsford in 2014 and became a Partner in 2019 – back to the firm. Debbie left in November 2021 to pursue other opportunities; however, we are very happy to see her back and...[more]

Incentive to invest

Posted on 6th Mar 2023

Next week, 15 March, the Chancellor will deliver his first Spring Budget. It will provide an opportunity to cushion companies from the effects of the Corporation Tax (CT) increase to 25% and the withdrawal of the 130% Super-Deduction; both timed for the 1 April 2023....[more]

Why credit control is vital

Posted on 6th Mar 2023

The ultimate financial objective of most trading companies is to convert their supply of goods and services into cash – deposits in their bank account. However, when goods are sold on credit, and you give customers time to pay, there is a delay in the...[more]

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