News

During the Spring Budget 2023 the Government announced the removal of the Lifetime Allowance (LTA) and in the 2023/2024 tax year we have seen the LTA Tax Charge being abolished.

We are living in a world where it is not unusual for both individuals and groups to actively look for ways to reduce our impact on the environment. For example, ‘Just Stop Oil’ has carried out a series of high-profile protests, including recently disrupting play at Wimbledon and Lords.

The long-delayed HMRC reforms which will see sole traders, partnerships and LLPs assessed for tax on a ‘tax year basis’ are finally due to come into effect in April 2024 – but those practices whose current accounting year-end does not coincide with the tax year need to start thinking about how they are going to cope with the change sooner rather than later.

The Charity Commission’s document aimed at charity trustees which gives guidance on investing charity money has been significantly updated.

Under a current review being undertaken by law makers, small business owners could soon be disclosing much more on the public record than has been required for many years.

An event for businesses at Norwich City Football Club next month will bring together leading experts in cloud accounting and cyber security, to help business owners and managers get the most out of digital technology.

A recent Supreme Court case could prove to be a game-changer for some charities – as it has clarified the position on Mandatory Rates Relief (MRR) for charities, and will make it much easier for them to challenge local authorities which reject their MRR applications.

There are significant tax advantages to choosing an EV in addition to the environmental benefits, says Nathan Bowden of Lovewell Blake.