Tax implications from loans to participators made by close companies

Tax implications from loans to participators made by close companies   The Autumn Budget 2021 confirmed that the increased dividend upper rate will apply on tax charged under Corporation Tax Act 2010, s.455, which details new anti-avoidance measures in addition to those already in place for loans to participators in close companies. Let’s take a […]

Capital Allowance Super-Deduction: Explained

Capital Allowance Super-Deduction explained   The Treasury announced on 3 March 2021 the introduction of a 130% Capital Allowance super-deduction as well as 50% first-year allowance (FYA) on special rate (SR) assets. These are just one of many incentives the UK government has used to improve business investment, so let’s take a comprehensive look at […]

Health and Social Care Levy: Why are National Insurance rates increasing?

Health and Social Care Levy: Why are National Insurance rates increasing?  WIM Accountants summarises the tax increases brought with the Health and Social Care Levy Bill   9 September was a day that shocked the nation, particularly lower-earning taxpayers when the Prime Minister announced a tax increase. National Insurance rates are set to rise along […]

SME vs RDEC: What should you claim under?

SME vs RDEC: What should you claim under? If you’re planning on making an application for Research and Development (R&D) Tax Credits, you need to know the differences between the two schemes available: The Small-Medium Enterprise (SME) scheme The Research and Development Enhanced Credit (RDEC) scheme Depending on the size of your company the nature […]