The Fifth Self Employed Income Support Scheme (SEISS) Grant

Earlier this year, the government announced that a fifth Self Employed Income Support Scheme (SEISS) grant would be made available. HMRC invited claims to be made from late July 2021 in a similar way to the fourth SEISS grant. Claims must be submitted online and are subject to a deadline of 30 September 2021. The […]

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HMRC proposes changes to the way trading income is allocated to tax years

As a rule, unincorporated businesses draw up accounts to the same date each year and this is their ‘accounting date’.  The profit or loss for the tax year, which ends on 5 April, is usually the profit or loss for the year up to the accounting date in the tax year: the ‘basis period’. The […]

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Changes to Dividend and NIC Rates

The government announced last week a 1.25% increase in taxes on most regular payouts by companies to help fund spending on health and social care.  It was anticipated that this move would raise up to £12 bn a year. Dividends Under the plans investors can still earn up to £2,000 each year in dividends and […]

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Don’t miss out on tax relief for capital expenditure in your business

As hopes increase that the economy is returning to pre-pandemic levels, is now the time for your business to begin replacing old equipment and commercial vehicles? You will recall from our article last year that the Treasury announced a temporary extension to the £1 million cap for the Annual Investment Allowance (AIA) until 1 January […]

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Kilsby Williams eyes further expansion on the back of client wins

Leading independent accountancy firm, Kilsby Williams, is celebrating its 30th year with significant client gains and exciting recruitment plans. Kilsby Williams, which was launched in 1991, has seen record growth in the past six months with many lucrative client wins including both Newport and Cardiff Bus, Fordthorne, Pensord Press, Poundstretcher and London-based Cutler and Gross. […]

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Tax Tips and Potential Traps

Grants for innovation – watch out for the impact on Research & Development tax relief claims When starting a new innovative project, it is tempting to apply for any grant that is available to you to help fund your project. However, if your project is likely to qualify for Research and Development (“R&D”) tax relief, in […]

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