PREVENTING WORK-RELATED STRESS
Stress, anxiety and depression are some of the the biggest causes of work-related illness in Great Britain and numbers continue to rise. According to the latest statistics (PDF) there were 914,000 workers suffering from work-related stress, depression or anxiety in 2021/22. 17 million working days were lost due to stress in this period. The Health and Safety […]
BRYDEN JOHNSON CELEBRATES 125 YEARS
Happy New Year from us all at Bryden Johnson! This year we have something extra to celebrate. In 2023 Bryden Johnson will be turning 125 years old, with a series of events over the year to mark this special anniversary. Back on Christmas Day in 1897 Mr Bryden and Mr Fedden got together and (we’d […]
130% SUPER-DEDUCTION ENDS 31 MARCH 2023
The 130% super-deduction for the investment in plant and machinery was introduced in the March 2021 Budget. The enhanced tax deduction is available to limited companies that acquire new plant and machinery between 1 April 2021 and 31 March 2023. Companies should consider bringing forward plans to acquire new plant to benefit from this generous […]
NEW YEAR TAX PLANNING
At this time of year we may be thinking about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5 April. An obvious tax planning point would be to maximise your ISA allowances for the 2022/23 tax year (currently £20,000 each). It is […]
KEY TRENDS IN ATTRACTING AND RETAINING EMPLOYEES IN 2023
As we begin the new year, employers are grappling with numerous challenges such as the cost of living, staff wellbeing, hybrid working and economic headwinds. Hybrid working has a number of benefits for staff and businesses – it can boost productivity, improve employee wellbeing, help to retain staff and reduce premises costs as not everyone […]
GROWING A BUSINESS DURING A RECESSION
Growing a business is hard work, particularly during a challenging economic environment. However, now might be the time to increase your market share while your competitors are pulling back. As competitor firms cut costs, they may do so at the expense of customer experience. Carry out some market research and monitor areas where rival firms […]
£12,300 CGT ANNUAL ALLOWANCE – USE IT OR LOSE IT
The CGT annual exempt amount reduces from £12,300 to just £6,000 for gains made in 2023/24. Remember that the 2022/23 allowance is lost if not used by 5 April 2023 and you might want to consider bringing forward disposals of chargeable assets where possible. Where a married couple who are higher rate taxpayers own a […]
£1 MILLION ANNUAL INVESTMENT ALLOWANCE NOW PERMANENT
The 130% super-deduction referred to above only applies to limited companies, however the Annual Investment Allowance (AIA) is available to unincorporated businesses as well as limited companies. In the recent Autumn Statement the Chancellor announced that the AIA for expenditure on plant and machinery would become a permanent £1 million allowance. The annual limit was […]
NEW VAT PENALTIES FOR LATE RETURNS
A new points-based system for late VAT returns starts for return periods commencing on or after 1 January 2023. A financial penalty will apply when a number of points have been accumulated, which will depend on how frequently the returns should be submitted. For a trader preparing quarterly returns a penalty will be charged when […]