Andrew Withers

2 months ago | albertgoodman.co.uk | Andrew Withers |Albert Goodman

Article While the budget is supposed to be a budget for growth, the extra tax on employment may affect the ability for an employer to invest in the business which therefore could prevent growth. This article considers remuneration planning following these changes, rather than the general affect across the wider business sector.

Jan 30, 2024 | albertgoodman.co.uk | Andrew Withers |Albert Goodman

As we start the new year, there are still a few months left to consider some year-end tax planning. With the change to basis periods, this will be more important for those who do not have a year end that is 31 March or 5 April, as you will need to decide to whether to change your yearend or not. Where your year end is not 31 March/5 April, you will have more than 12 months trading profits, so you will need to ensure tax planning is made before the end of the tax year.

Jan 30, 2024 | albertgoodman.co.uk | Andrew Withers |Albert Goodman

As we are approaching the deadline for payments to HMRC for the balancing payment for 2022/23 and the payments on account for 2023/24, it is worthwhile considering available options. Generally, payments on account must be paid where the liability for the previous year exceeds £1,000. If these payments are not made, HMRC can charge interest for late payment. The interest rate is currently 7.75%, which could lead to large interest charges if the payments are not made.

Nov 28, 2023 | thecgo.org | Andrew Withers |Megan Jenkins

In the early 20th century, the American chestnut tree was an icon of United States forests. It grew up to 100 feet tall and had a population of over 3.5 billion in 1904. The chestnuts from this tree provided food and shelter for many species, and its lumber sustained economic activity. It was even featured in song lyrics. Then an unexpected fungal disease known as the chestnut blight wiped out nearly the entire population.

Aug 9, 2023 | albertgoodman.co.uk | Andrew Withers |Albert Goodman

HMRC have released figures showing that receipts from Inheritance Tax (IHT) have exceeded £6bn in the last tax year and are increasing year on year. This trend is likely to continue as property values increase and allowances remain static at £325,000 until at least 5 April 2026. With HMRC clearly focusing on increasing receipts from IHT, it is key to ensure that the availability of relief is correct to minimise any liabilities.