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Deduction of tax on yearly interest

Deduction of tax on yearly interest

The tax legislation requires the deduction of tax from yearly interest that arises in the UK. This typically refers to interest that is subject to Income Tax or Corporation Tax. The legislation requires the deduction of tax from yearly interest, if: paid by a company,...
Loss of personal allowance – the £100k ceiling

Loss of personal allowance – the £100k ceiling

For the current tax year, taxpayers with adjusted net income between £100,000 and £125,140 will face an effective marginal tax rate of 60%, as their £12,570 tax-free personal allowance is gradually withdrawn. If a taxpayer earns over £100,000...
Winning new contracts without offering punitive credit terms

Winning new contracts without offering punitive credit terms

In today’s competitive market, many businesses feel pressured to extend generous payment terms to win new contracts. However, offering long or risky credit arrangements can strain cash flow and expose you to unnecessary financial risk. The good news is that...
Business meetings – Face to face or online?

Business meetings – Face to face or online?

The way we meet has changed dramatically in recent years. Technology now makes it possible to discuss projects, close deals and hold team meetings without ever leaving our desks. Yet for many, there is still something powerful about sitting across the table from...
Benefits of the VAT Cash Accounting Scheme

Benefits of the VAT Cash Accounting Scheme

Waiting to be paid but still having to hand over VAT? The VAT Cash Accounting Scheme potentially lets you pay VAT only when your customer pays you, helping to ease cash flow pressures for small and medium-sized businesses. This approach can offer significant benefits...