Personal Tax
Become Your Company's Own Private Bank
Directors loan accounts that are in credit provide a valuable tax planning opportunity, especially at a time of rising interest and corporation tax rates
Steve Livingston
Steve Livingston LLB FCA is the Founder of IP Tax Solutions. Having trained at Big 4 firm, KPMG, and progressed to Senior Manager, he was appointed as a Partner at a mid-tier global firm.
R&D Tax Credits
R&D tax credits: Claim now or wait for future relief at 25%?
For many years, the default option for the majority of SMEs has been to claim the R&D tax credit rebate rather than wait for potentially higher relief - will the new 25% corporation tax rate make a difference?
Company Tax
Getting ready for a 25% company tax rate
The main rate of corporation tax is set to rise from 19% to 25% with effect from 1 April 2023. Tax planning will be necessary to manage cashflow and mitigate the impact of the marginal rate of up to 26.5%
Innovation
How to drive innovation within UK businesses?
"Innovation" was repeated 8 times by Rishi Sunak in his recent speech. A speech intended to galvanise the British public into building a better future. Rishi placed huge emphasis on driving: 1. Innovation 2. Creative thinking within businesses across the UK. But he was (very) light on detail
Innovation
Fostering a Culture of Innovation
In today's fast-paced, ever-changing business landscape, innovation is essential for companies that want to remain competitive and relevant. In this blog post, we will explore the importance of fostering a culture of innovation.
SEIS / EIS
SEIS: Mini Budget Proposed Changes
The new Chancellor, Kwasi Kwarteng, clearly sees the benefit of the SEIS relief to help kick-start the UK economy as he announces further improvements to come into effect from April 2023
Budget News
Mini-Budget was NOT so "mini" (£45bn tax cuts!)
We expected some tax cuts but I don't think any of us saw this coming... £45bn of tax cuts delivered in rapid-fire in today's (not so) Mini Budget
SEIS / EIS
Issue SEIS shares first, followed by EIS shares after (always!)
A potential costly error for Founders of startups is to miss the technical point that SEIS shares must be issued before EIS shares
SEIS / EIS
Tax Incentives for Startups and SMEs (Webinar for World IP Day)
Overview of current government tax reliefs available for ambitious growing UK company including S-EIS, R&D tax credits, Patent Box, EMI share options
SEIS / EIS
Impact of Employment Allowance on SEIS Max Investment Amount
In this video we flag a potential issue for founders who are seeking funding under SEIS and may not be aware that the NIC Employment Allowance can impact on the max £150,000 amount that can be raised under SEIS
R&D Tax Credits
R&D Tax Credits: New Form required from 6 April 2021 (CT600L)
HM Revenue & Customs has introduced a further form that all companies must now complete and file when claiming either the R&D tax credit relief
Budget News
Budget (March 2021) Summary for Entrepreneurs
Here we focus on the key tax changes announced by Rishi Sunak in the March 2021 Budget Statement including corporation tax increase, the new Super deduction and other tax changes