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News and Blog

What are Research and Development Tax Credits?

Research and Development Tax Credits are tax breaks provided by the Government to promote innovation within Companies. A company’s corporation tax liability can be reduced by a percentage of expenditure on R&D. R&D expenditure is often dismissed as there is no lab at the company’s premises, no white coated employees… read more

Tax free dividend allowance from April 2016

From April 2016 there are changes to the way dividends are taxed. The dividend allowance means you will not pay tax on the first £5,000 of dividend income, no matter what non-dividend income you have. Dividends received from Pension funds and ISA continue to be tax free. Currently… read more

Profit from VAT = Oxymoron!

We have added Profit from VAT to the long list of these verbal puzzles that we use in the office, our other favourites are ‘definitely maybe’, ‘random order’, ‘original copy’ and ’virtual reality’! The Flat Rate Scheme for VAT is available to businesses that have a taxable turnover of less… read more