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The latest news from Freeman Accountancy

BUDGET BRIEFING SPRING 2023

BUDGET BRIEFING SPRING 2023

R&D TAX RELIEF CURTAILED FOR SOME Last Autumn the Chancellor cut the enhanced deduction for expenditure by SME companies on R&D projects from an extra 130% to 86% and the payable tax credit from 14.5% of  the loss surrendered to 10%. These new rates will come...

TAX BRIEFING WINTER 2022

TAX BRIEFING WINTER 2022

DIVIDEND TAX The Chancellor has decided to cut the dividend allowance to £1,000 Dividends are taxed at much lower rates than other forms of income and they are not subject to national insurance contributions (NIC). This can make taking income from your own company in...

Vat Registration

Vat Registration

VAT Registration VAT is a type of tax charged on goods or services by businesses that are VAT registered. If a business is VAT Registered, it charges it’s customers VAT on the goods or services it provides and can normally reclaim VAT on goods or services that it...

Making Tax Digital

Making Tax Digital

Making Tax Digital (MTD) - VAT Making Tax Digital (MTD) for VAT is part of HMRC’s plan to digitise the UK taxation system. Initially, MTD only applied to VAT registered businesses with turnover in excess of the VAT registration threshold (currently...

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