accounting

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Key Takeaways: Spring Budget 2024 8th 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’. In this article we break down the key announcements made in the […]

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Basis Period Reform: Changes to accounting periods from 2023/2024 for individuals and partnerships 21st February 2024

As of 6th April 2024 business profits for sole traders, unincorporated businesses and limited liability partnerships should be calculated inline with the tax year,” rather than on the “current period basis”, thus aligning all accounting periods to the tax year […]

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Solicitors Accounts Regulations: What You Need to Know

The Full Expensing Regime 19th January 2024

The Chancellor’s announcement at the Autumn Statement on 22 November 2023 brought a pivotal development for businesses as the full expensing regime (allowing companies to claim 100% capital allowances for qualifying plant and machinery) will no longer expire on 31st […]

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Solicitors Accounts Regulations: What You Need to Know

Solicitors Accounts Regulations: What You Need to Know 11th December 2023

Solicitors, as entrusted custodians of client funds, operate within a structured set of guidelines known as the Solicitors Accounts Regulations (SAR). This financial regulatory framework not only safeguards the interests of clients but also establishes a robust foundation for financial […]

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Autumn Statement 2023 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 […]

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CGT separation laws

2023 Changes to Capital Gains Tax during Separation 28th September 2023

As of 6th April 2023, spouses and civil partners going through a separation process may now benefit from new Capital Gains Tax rules that allow more time to transfer assets without incurring potential tax liabilities. This article breaks down the […]

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pension allowance changes

Changes to Pensions Allowances in 2023 27th July 2023

From 6th April 2023 a number of key changes to pension allowances have applied. Relevant to all those using a recognised private pension scheme, these revisions have opened up new opportunities for tax relief through the use of pension contributions. […]

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Changes to R&D Tax Credit Claims from August 2023 23rd June 2023

The R&D Tax Relief Scheme is a valuable tax relief for those eligible businesses investing in new product development or innovation.  From 1st August 2023 you will need to submit claims digitally and provide Additional Information to HMRC using a […]

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Mitigating Changes to Corporation Tax Rates and Dividend Allowance 2023/2024 31st May 2023

With changes to both the rate of Corporation Tax as well as the Dividend Allowance 2023/2024, many Companies and Directors will be looking to reassess the efficiency of previous tax strategies. In our article we explain the changes, how they […]

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ENSURE YOU MEET YOUR 2023/24 OBLIGATIONS FOR ANNUAL TAX ON ENVELOPED DWELLINGS (ATED) 26th April 2023

ENSURE YOU MEET YOUR 2023/24 OBLIGATIONS FOR ANNUAL TAX ON ENVELOPED DWELLINGS (ATED) If your company or partnership holds an interest in a residential property believed to be valued close to or over £500,000 as of the valuation date of […]

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Chartered Accountants in Sunderland, offering expertise on everything from Tax and Business Planning,
to Accounts and VAT.