With the clock ticking down to the Accounting Excellence Awards, we at Glazers are incredibly proud to see our own Ben Allen shortlisted for the prestigious Practice Leader of the Year award. Since joining our North London firm, Ben has risen to become one of the youngest partners in our history, driving significant strides in…
Labour shortages, particularly in the hospitality sector, are creating significant challenges for many businesses this year. Managing your costs while trying to maintain service quality and customer relations can be a difficult balance. Given the difficulty in hiring sufficient staff, many of you will be investing in technology to increase your efficiency. Luckily, the Annual…
Labour’s Autumn Budget is just around the corner (30 October) and many businesses are uncertain of what the next few years may hold for them. The Prime Minister Keir Starmer has already warned of a “painful” Budget, with big changes to taxation, funding for public services, and incentives for investment. For businesses, these changes can…
Capital allowances are a great way to reduce your tax liabilities by claiming deductions on certain property-related expenses. They allow you to offset the cost of capital expenditure – plant, machinery and certain fixtures – against your taxable profits, especially if you have invested in commercial properties or made major improvements. Who is eligible to…
Taxpayers have a fundamental right to reclaim input tax, also referred to as input VAT. However, HMRC has the authority to refuse this right under certain conditions if they can demonstrate that the taxpayer was aware, or should have been aware, that their transactions were linked to fraud. There has been a noticeable rise in…
As the Autumn Budget approaches, the Government has pledged that it will “make the tax system fairer” and avoid raising taxes on working people and certain businesses. The Government has said that it will not raise: Income Tax National Insurance (NI) Corporation Tax VAT While Corporation Tax is not levied on individuals, the fact that…
For business owners and directors, dividends may form a critical element of your salary strategy and tax planning, keeping your tax liabilities to a minimum. To extract profit tax-efficiently from your business, you may use a combination of: Salary – Typically set at or around the Personal Allowance of £12,570 to minimise Income Tax and…
As the Government seeks to plug certain gaps in the public purse, we are unlikely to see any change in Income Tax thresholds – despite wages and the State Pension rising. Under the previous Government, tax thresholds were frozen until March 2028, and it remains to be seen whether this will change under the Labour…
HMRC has begun to issue ‘nudge letters’ to cryptoasset owners who may have underpaid tax when selling their assets, urging them to amend or submit a tax return. In this rapidly evolving sector, asset holders are not always clear on what income or profit generates a tax liability. This follows the introduction of CARF –…
