The Research and Development (R&D) tax credit is a relief available for companies working on innovative projects or improving business components. The R&D claim is made via the company tax return, and the credit can be used to reduce the corporation tax payable or received as a cash payment. The R&D tax credit is available to most sectors, and you can generally claim for the past two accounting periods. However, there are certain criteria that need to be met.
Trust funds - you’ve probably heard about them before. There’s always a fair share in your standard families-fighting-over-inheritance dramas and movies (Succession). More often than not, it is also used in a negative context or as a criticism - ‘He is a trust-fund baby’.
The reality is, a trust fund is simply a way of giving someone an asset (cash, a house, investments) without the donor giving up all the control to the recipient.
But why is it so important to create a trust fund? Not many people truly understand the benefits or structure of them.
We’re big gamers here at Anderson & Edwards. You’ll see us spending our evenings playing everything from CS: GO, to Football Manager, Industria and Minecraft. As gamers who also happen to be accountants, this naturally makes us think about Video Game Tax Relief. After all, it’s in our best interest to make sure games companies are doing well and releasing more games (for us and the world…).
The Westminster Government have voted for the proposal to increase taxation. These will become effective in 2022. Make sure you are aware of these and the implications they will have on you and your business before it happens. Here's what the tax rates will look like from 6 April 2022.
Tax liabilities can be prolonged so they aren’t due so soon after Christmas. But certain criteria needs to be met if you want to delay paying your tax bill.
Staff parties have no limits. Or do they? There are many misconceptions about the party allowance that employers and employees receive. It’s time to debunk these myths before the festive season comes upon us. Be mindful of the financial implications that might apply to you, your business or your team.
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