We are fifteen months away from a radical upward lift in corporation tax (CT) rates. From 1 April 2023, there will be two rates of CT: A small profits rate which will stay at the present 19% and will apply to companies with profits up…
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Increasing footfall
Footfall measures the number of times a customer returns to your business to purchase goods and services. Many business owners believe that the most effective way to increase turnover is to win more customers or to charge them more for purchases. Both of these strategies…
Christmas gifts for staff
Readers are reminded that there is a tax-free allowance for the provision of an annual party or other event for the benefit of staff and their partners. The present limit to tax relief is £150 per head. If this amount is exceeded, the full cost…
Business gifts and tax
Business gifts are not allowed as a tax deduction against profits. The legislation treats gifts in the same way as business entertaining expenditure, which is also disallowed. HMRC define a gift as: “… something that is given to a person without receiving anything in exchange.…