We are pleased to offer you a complimentary copy of our latest newsletter.
In this edition, we look at several forthcoming changes affecting businesses and taxpayers, including significant changes to reporting requirements for small businesses. Our feature explores the overhaul underway at Companies House with 58 changes to legislation affecting several different areas of company structures. Not least of these will be a requirement for smaller companies to file profit and loss accounts.
The articles in this issue are:
- What is employment The Court of Appeal has for the first time ruled on employment status under IR35 in two cases – and agreed with HMRC in both. In each case, the terms of the contracts proved crucial.
- Managing your business through inflation Small businesses trying to cope with 9.4% inflation face a difficult balancing act between potentially alienating customers by increasing prices too sharply or absorbing increased costs and risking their survival.
- Understanding the national insurance changes Some of the latest changes to NICs started from 6th July 2022, causing complications for self-employed people and directors. Normally rates and thresholds are set for the whole tax year.
- New house rules: reforming company registration Companies House is to be extensively reformed and will be given new powers to become a custodian of verifiable information rather than just a keeper of submitted company records.
- Using salary sacrifice In these straightened times, salary may be preferable to receiving a benefit. However, the attraction of salary sacrifice has increased since 6 April, and when it comes to pensions it makes sense to take a longer-term view.
- Reclaiming overpaid inheritance tax IHT is sometimes overpaid and families have reportedly made 32,000 claims for IHT repayments over the past six years.
We hope you enjoy reading the newsletter. Please get in touch if you need help or advice on any of the topics covered.