What’s an EMI scheme? There are over 15,000 companies in the UK using EMI options and it’s easy to see why. An Enterprise Management Incentive (EMI) is a tax-efficient way for small and medium sized businesses to offer share options to their employees. Often used by start-up businesses who are in their infancy, it’s a […]
The benefits of Enterprise Management Incentive (EMI) schemes Read More »
Many businesses debate whether to run their payroll in-house or whether to outsource it to an accountant. Outsourcing does come with a wealth of benefits for UK businesses, not least, tapping into the expertise and knowledge of accountants who are already well-versed in tax laws, employment regulations and HMRC compliance. We’ve listed a few other
Should you outsource your payroll? Read More »
Whether you’re an individual or a company, donating to a charitable cause is a great thing to do if you’re in a position to do it. On top of the personal reward that comes with giving back, there are numerous tax benefits to giving charitable donations in the UK. As a company making charitable donations,
Tax relief on charitable donations – what’s the drill? Read More »
In the current market, staying on top of your finances to remain strategic, profitable and ahead of the competition, is crucial. Waiting to do a financial review until the end of the year might seem like the easiest option, but we’ve seen for ourselves, the negative consequences this can have for clients. In many cases
Why Quarterly Management Accounts are great for business Read More »
Registered Charities, CIOs and CICs In recent years new types of legal entities have been introduced for non-profit organisations, social enterprises and charities. This includes the formation of the CIC (Community Interest Company) in 2005 and the CIO (Charitable Incorporated Organisation) in 2013. Charities have of course been in existence for hundreds of years, but
Social Enterprises Read More »
What are capital allowances? Capital allowances are a tax-deductible amount a business can claim on capital items, which are used in the business’ trade. If you built or bought a property or incurred capital expenditure on plant and machinery or computer equipment that is in use for the purpose of a trade or rental business,
Capital Allowances Read More »
R&D tax credits are one of many government incentives designed to encourage UK companies to invest in innovation, by providing businesses access to cash as a reward for their activities. Who can make a claim? Available to both SMEs and large companies alike, if your business is attempting to resolve scientific or technological uncertainties
Research & Development tax credits Read More »
For expenditure incurred from 1 April 2021 until 31 March 2023, companies can claim 130% capital allowances on qualifying plant and machinery purchases Under the super-deduction, for every pound a company invests, corporation tax is cut by 25p The super-deduction was introduced in the 2021 budget in order to make the UK capital allowances regime
Super Deduction and Capital Allowances Read More »
OVERVIEW Enterprise Management Incentives (“EMI”) are a popular way for small and medium sized businesses to offer share options to their employees in a tax efficient manner. They are popular in start-up businesses, particularly in the technology sector, who typically aren’t able to offer competitive salaries in the early years of the company’s development and
A question that comes up a lot for clients starting their own businesses is an important one and is “how do I pay myself?”. Usually this will fall into two categories, salary and dividends, which we will cover in more detail below. SALARY Each year you need to earn a certain amount of income
Salary and Dividend payments Read More »
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