Winter Bulletin 2024
As we embrace the winter chill, it’s time to delve into the latest developments shaping your financial landscape. In this bulletin, we dissect key topics impacting your financial wellbeing and provide actionable insights to navigate the road ahead. Exploring the cost of your habits sets the tone for this bulletin, inviting reflection on spending patterns…
READ MORETax efficient planning for 2023/24
Start planning for the 2023/24 tax year now and get the best out of your money It is always a good idea to review tax planning opportunities to ensure you are maximising allowances and your planning is in line with current legislation. Read our guide for a brief reminder of the key points that should…
READ MORECreative sector tax reliefs: video games tax relief
Video games tax relief (VGTR) forms part of the UK government’s strategy to promote and support various creative sectors in the UK through generous tax reliefs. VGTR may be available to a video game development company (VGDC) that develops a qualifying video game. Under the current regime, the relief can increase the amount of expenditure…
READ MOREFamily business bulletin | January 2024
Welcome to our January 2024 edition Welcome to the first Family Business Bulletin of 2024. As we enter a new year filled with uncertainty, but also new possibilities, we know that family businesses will have a unique advantage. The shared vision that exists within these businesses serves as a strong foundation for navigating the challenges…
READ MOREComparison of EIS, SEIS and VCT
Enterprise Investment Schemes (EIS), Seed Enterprise Investment Schemes (SEIS) and Venture Capital Trusts (VCT) are three types of government-backed schemes that aim to encourage investment in small, unquoted companies that are generally perceived to be high-risk investments. Here, we go through what they are and who may consider them. What is EIS, SEIS or VCT?…
READ MOREConstruction Industry Scheme
The Construction Industry Scheme (CIS) was initially introduced in the 1970s to counteract the perceived under-reporting of income by subcontractors in the UK construction industry. The scheme operates, in outline, by imposing a withholding tax obligation on contractors who make payments to subcontractors, thereby protecting against the risk that subcontractors subsequently fail to report and…
READ MORECreative sector tax reliefs: film tax relief
Special tax rules apply to determine how the taxable profits of a film production company are to be calculated and how any losses may be applied. A film production company (FPC) may also be eligible for Film Tax Relief (FTR). This relief can increase the amount of expenditure that is allowable as a deduction for…
READ MORECreative sector tax reliefs: television tax relief
Television Tax Relief (TTR) may be available to companies that produce high end television programmes, animations, or children’s television programmes. The relief can increase the amount of expenditure that is allowable as a deduction for tax purposes and, if the company makes a loss, allow some or all of that loss to be surrendered for…
READ MOREUnderstanding UK Theatre Tax Relief: Rates, criteria and benefits
Some theatre productions in the UK are eligible for Theatre Tax Relief (TTR). In case you’re unaware, Theatre Tax Relief can increase the total expenditure that is allowed as a tax deduction on specific goods or services, and if your company takes a loss, this can be surrendered for a payable tax credit. Theatre Tax…
READ MORECreative sector tax reliefs: museums and galleries exhibition tax relief
A company may be eligible for Museums and Galleries Exhibition Tax Relief (MGETR) in respect of expenditure incurred on qualifying exhibitions. This relief can increase the amount of expenditure that is allowable as a deduction for tax purposes and, if the company makes a loss, allow some or all of that loss to be surrendered…
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