Steve Livingston LLB FCA is the Founder of IP Tax Solutions. Having trained at Big 4 firm, KPMG, and progressed to Senior Manager, he was appointed as a Partner at a mid-tier global firm.
With so much change happening in the field of R&D tax credits relief, we have put together a useful summary timeline of changes and new rules that are currently on the horizon
This generous temporary capital allowance aimed at expenditure on computers, furniture, plant, machinery, vans etc is set to run out after 31 March 2023.
The tax burden is about to get a lot worse for director / shareholders from 5 April 2023 onwards, so here we share some proactive tax planning ideas
Don't be tempted to settle your personal tax self assessment bill due to HMRC from your own company's bank account.
Directors loan accounts that are in credit provide a valuable tax planning opportunity, especially at a time of rising interest and corporation tax rates
For many years, the default option for the majority of SMEs has been to claim the R&D tax credit rebate rather than wait for potentially higher relief - will the new 25% corporation tax rate make a difference?
The main rate of corporation tax is set to rise from 19% to 25% with effect from 1 April 2023. Tax planning will be necessary to manage cashflow and mitigate the impact of the marginal rate of up to 26.5%
