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By Barry Fitzsimmons

21st November 2022

How good financial planning can help offset the impact of the Chancellor’s Fiscal Drag

It is likely that The Chancellor will continue to freeze a number of thresholds and allowances meaning that many people will be dragged in to paying more tax in one way or another. This is called “fiscal drag”.

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By Sarah Tallentire

21st November 2022

With inflation rising, should you rethink investment returns?

From January 2000 to the start of 2022, inflation averaged 2.3%. It has now (May 2022) jumped to 9% in the 12 months to April, up from 7% in March the highest for 40 years. That means that if you were born after the early 1980’s, you have not experienced the sort of economic environment we are now experiencing.

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By Armstrong Watson

18th November 2022

Income Tax Basis Period Reforms

The Government announced a major reform to the way in which a business owner’s trading profits are allocated against the relevant tax year for income tax purposes – otherwise known as their ‘basis period.’

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By Armstrong Watson

17th November 2022

Autumn Statement 2022 - a focus on stability, but will it help buyer confidence within the automotive sector?

The verdict from a pure tax perspective is probably that it isn’t as bad as it could have been, but that goes nowhere near explaining the whole story. 

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By Armstrong Watson

17th November 2022

Autumn Statement 2022 - lacks incentives for business owners

Having recently written an article of the now infamous “mini budget” in which I talked about it being very much a budget favouring business, this Autumn Statement has, in stark contrast, reverted to one of increased costs and taxes for business.

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By Graham Poles

17th November 2022

Autumn Statement 2022 - Personal Taxes and Fiscal Drag

As expected, the Chancellor did not make changes to the rates of income tax, national insurance, inheritance tax or capital gains tax (CGT), but what he did do is freeze the threshold on each one of these except CGT, meaning the rates everyone is paying today will be the same rates that will apply after April next year.

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Research development

By Armstrong Watson

17th November 2022

Autumn Statement 2022 - Research & Development Tax Reliefs

After much adverse publicity in recent days and weeks around exaggerated and fraudulent R&D claims, particularly in relation to claims under the Small & Medium Enterprises (SME) scheme, the Chancellor has reacted by reducing the tax benefits potentially available through an R&D SME claim.

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Houses of parliament

By Becky Bowness

17th November 2022

Autumn Statement 2022 - Head of Tax Initial Reaction

As anticipated due to the economic deficit, Jeremy Hunt today announced measures that will see tax increases amounting to a cost to taxpayers of tens of millions of pounds.

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two business partners shaking hands

By Andy Poole

15th November 2022

So you’ve been offered an Equity Partnership – but should you accept and how will you be taxed?

Armstrong Watson has a great deal of experience in helping and advising prospective equity partners on the implications of such an appointment and whether or not to accept the offer.

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salary-sacrifice-benefits

By Helen Robinson

14th November 2022

Salary Sacrifice – Help employees make the most of take-home pay

With the ever-rising cost of living, how can employers help employees make the most of their net pay? A salary sacrifice scheme can do just that.

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