Federation of Small Businesses: Paul Samrah on surviving the crisis
The FSB’s magazine, First Voice, published an article about SMEs coming back stronger and better. Paul Samrah advises businesses to have a good contingency plan in place with a well-defined emergency committee. Samrah said: “We’ll get through this. It might be different than it was before, but if we remain positive we’ll bounce back and…
READ MORESpring Budget 2017: Increase in Class 4 NICs from 9% to 10%
“The increase in Class 4 NI by 1 per cent will cost a self-employed individual up to £368 from April 2018 and the same again from April 2019; although this will be mitigated somewhat by the abolition of Class 2 NICs, saving them £150 a year,” comments Tim Stovold, head of tax at Kingston Smith.…
READ MORESpring Budget 2017: Reduction in dividend allowance
“The Chancellor says the proposed reduction in the tax free dividend allowance from £5,000 to £2,000 would provide a disincentive to small businesses to incorporate,” says Graham Morgan, a tax partner with Kingston Smith. “In many cases the decision to incorporate is commercially driven, with the tax advantage being a secondary feature. The reduction will…
READ MOREDesign Week: Tax relief for museums is good news, says Mike Hayes
While the Autumn Statement was “fairly light on announcements for the creative industries”, Museums and Galleries Tax relief was one of the “exceptions”, says tax partner Mike Hayes in Design Week. This will run until 2022, and relief will be at 25% of expenditure for touring exhibitions, and 20% for permanent ones.
READ MOREPost Election comment on Tory tax plans
High earners “With a Conservative government now confirmed, higher earners will be trying to do their sums to work out whether they are a winner or loser,” says Tim Stovold, Head of Tax at accountants Kingston Smith. “They will take comfort from the promise that the highest rate of tax will not increase from 45…
READ MORE