Blog

New Stamp Duty Land Tax

During his Autumn Statement George Osborne outlined major changes to how SDLT (Stamp Duty Land Tax) is charged on residential property purchases in England and Wales.

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Tax and your business

Individuals in an unincorporated business pay tax on the profits at income tax rates ranging from 20% to 45%. In addition, there is a liability to class 4 national insurance contributions (NICs), which is taxed at a rate of 9% on taxable profits from £7,956 to £41,865 and thereafter at a rate of 2% without limit.

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Creative Sector Tax Relief

Creative Industry Tax Reliefs are a group of tax reliefs specifically targeted at Companies undertaking certain activities in the entertainment industries

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Patent Box

The Patent Box is a corporation tax relief for relevant intellectual property profits of a company’s trade and commenced on 1 April 2013. The relief is not automatic and therefore a company must elect for Patent Box to apply if it considers that it is eligible to make a claim.

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Entrepreneurs’ Relief explained

Entrepreneurs’ Relief is designed to reward those who successfully develop and establish a business from scratch. It allows a reduced 10% Capital Gains Tax (CGT) rate to be applied when you sell your business – or certain business shares and assets – and make a profit.

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Finance for established businesses

Businesses seek external funding for a variety of reasons. If your business is doing well, you might need to raise cash to fund expansion or perhaps you need additional funding to survive a rough patch

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Subsistence v Entertainment

Subsistence is a payment for an individual in relation to work-related travel, accommodation and meals beyond those normally required. Entertainment is when someone in business provides a meal or social event to a customer, potential customer or other person such as a professional contact.

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Buy to let property

Commercial property investment is back on the up, investing in this area has increased by 45% in 12 months. What do you need to consider if you are interested in investing?

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Choosing the right business structure

There are four common ways of arranging a business, each with its own legal and tax requirements, benefits and complications. How you decide to set up in business will be influenced by whether you plan to work with others or on your own and how you choose to structure any business relationships.

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Tell us about your business

Explore where you want to go, what you need to get there and how ABG can help.