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Don't overlook tax changes or lose tax allowances

The end of the tax year can be a stressful time here are some tax and financial planning tips to help you and your business get ahead

Becky Bowness promoted to Head of Tax

Armstrong Watson is delighted to announce that Corporate Tax Partner Becky Bowness has taken on the role of Head of Tax and leads the firm’s tax service lines across all 18 offices throughout the North of England and Scotland.

New penalties for late VAT returns and payments

In the new year businesses and individuals who submit VAT returns late or miss their payment deadlines could be fined £200.

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. 

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.

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.

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.

Three weeks, two Chancellors and an almost complete reversal of the “Growth Plan”

No one could have predicted when Kwasi Kwarteng stood up in parliament to make his first fiscal statement that 3 weeks later the vast majority of his announcements would be reversed, or indeed that his first (mini) budget would be his last.

How will the Mini-budget 2022 measures affect your business?

The recent mini-budget was planned to be a “Budget for growth”, an opportunity for the new Prime Minister to launch the start of her premiership.  The Initial reaction from the markets has not been good, but how could the measures announced help businesses achieve their goals of growth?

Investment zones - A drive for growth or simply tax benefits for relocation?

As part of his mini-Budget the Chancellor announced the intention to create investment zones throughout England.

Business in designated areas within the investment zones will benefit from: