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Tax
Understanding tax exemptions for Christmas parties and trivial benefits
11th December 2024
As the holiday season approaches, many businesses are preparing to celebrate with festive parties and gifts. While these are a great way to reward your team, it’s important to be aware of the tax rules to ensure compliance and avoid...
Tax
Rowleys’ Budget event highlights evolving business confidence
21st November 2024
On Monday 4th November, Rowleys hosted an insightful Budget event as part of the Leicester Business Festival, attended by over 60 businesses from across the East Midlands. This event came on the heels of the first Budget announced by the...
Tax
Autumn Budget – October 2024
31st October 2024
Chancellor Rachel Reeves delivered her Budget on Wednesday 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’. Billions in tax rises Ms Reeves said the Budget will raise £40 billion in taxes. Employers’...
Tax
How companies can reduce their tax burden: Key considerations
23rd September 2024
With directors now facing tax bills that are 6% higher than previously, and with the Labour Party intending to maintain this rate, businesses need to take a proactive approach to tax planning. Rowleys Tax Partner, Clare Clifford, shares some key...
Tax
Predictions for the October 2024 Budget: Insights from Rowleys’ Tax experts
18th September 2024
As the Labour Party solidifies its position as the UK government, anticipation is growing around its first major fiscal event. On 30th October 2024, Labour will unveil its much-anticipated Budget, a pivotal moment for individuals and businesses across the country....
Tax
Inheritance Tax (IHT): An overview
26th July 2024
Inheritance Tax (IHT) is a tax on the estate (the property, money, and possessions) of someone who has died. Here, we provide an overview of the key elements of IHT, including the basics, thresholds, exemptions, reliefs, planning strategies and insights...
Tax
Navigating tax changes under Labour: What can we expect?
23rd July 2024
Following the general election on July 4th, which resulted in a Labour victory, it’s highly likely that we can expect some tax changes in the coming months. The Labour manifesto included several key points that could, if implemented, have an...
Tax
Employee share schemes: What are they and what are the benefits?
30th May 2024
Employee share schemes are a powerful tool for awarding equity to your employees, offering a strategic way to incentivise and retain key staff crucial to your business's success. These schemes not only motivate employees but also help engage the next...
Tax
Spring Budget – March 2024
7th March 2024
Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor made further changes to National Insurance contributions (NICs),...
Tax
2024 Budget predictions: Insights from our tax experts
20th February 2024
As the Budget announcement on March 6 approaches, speculation is rife about the fiscal measures the government will unveil to steer the economy forward. At Rowleys, our tax team has been reviewing the current economic and political landscape to provide...
Tax
2023-2024 Year End Tax Planning Guide
15th February 2024
With just over a month to go before the end of the tax year, now is a good time to review your finances and ensure you are taking maximum advantage of any available tax allowances and reliefs. From 6 April 2024,...
Tax
Research & Development (R&D): Forthcoming changes
17th January 2024
Change is on the horizon for Research and Development (R&D) tax credits. With the R&D Merged Scheme, set to kick in from April 2024, promising a simpler, more consolidated process. Other changes include the introduction of the R&D Intensive Scheme,...
Tax
HMRC clamps down on ‘side hustle tax’ for online sellers
10th January 2024
HM Revenue and Customs (HMRC) will be cracking down on online sellers who are deemed to be ‘trading’. From the start of this year, various digital platforms, including Vinted and eBay, must share information with HMRC to identify individuals who...
Tax
2023 Autumn Statement
23rd November 2023
On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were significant statements relating to National...
Tax
Autumn Statement 2023 predictions
16th November 2023
On Wednesday 22 November, the Chancellor, Jeremy Hunt, will deliver the Autumn Statement 2023, where he will set out the Government’s tax and spending plans, and share a fiscal forecast. Here, we share an overview of our key predictions. Setting...
Tax
Forthcoming changes to Self-Assessment tax returns
12th July 2023
HMRC has recently announced a significant change to the requirements for filing Self-Assessment tax returns. Although not widely publicised, starting from the 2023/24 tax year, the income threshold at which a tax return is mandatory has been raised from £100,000...
Tax
Rising inheritance tax liabilities: Steps to take to minimise the burden
16th June 2023
Recent research conducted by interactive investor revealed that the UK's average Inheritance Tax (IHT) liability has surged to £62,000, placing an additional burden on families. This alarming figure highlights the need for individuals to explore effective strategies to minimise their...
Tax
HMRC self-assessment helpline closed for the summer
12th June 2023
On Friday 9th June HMRC announced that their self-assessment helpline will be closed between 12th June and 4th September. Rowleys Tax Partner, Mark Hook, explains more about the announcement and where to seek help regarding tax queries and issues during...
Tax
Spring Budget 2023
16th March 2023
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion...
Tax
2022/23 Year End Tax Planning Guide
13th March 2023
With less than a month to go before the end of the tax year, now is a good time to review your finances and ensure you are taking maximum advantage of any available tax allowances and reliefs. From 6th April...
