Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 25th July , 2023

IHT hit drives 72% tax take Britain’s inheritance tax burden means that the Government takes as much as 72p from every pound earned in a person’s lifetime, according to new analysis. While IHT is typically [...] continue reading

posted in Business advice for motorsport businesses by Mark Stephenson on 21st July , 2023

HMRC is clamping down on R&D tax credit claims, including those made by companies in the motorsport industry, asking for more detail about the research or development that has been undertaken and retroactively denyin[...] continue reading

posted in Business advice for motorsport businesses by Mark Stephenson on 18th July , 2023

Comments made in the Daily Telegrapgh by Matthew Lynn indicate that the UK Government may need to consider the impact of high taxes in the UK and vsas offered to workers by other countries. Matthew Lynn says in the Tele[...] continue reading

posted in Business advice for motorsport businesses by Mark Stephenson on 14th July , 2023

HMRC hasstarted charging 7.5% interest on money owed to the tax office from today, the highest rate for 15 years. The rate is fixed at 2.5 percentage points above the Bank of England’s rate, but HMRC is only oblige[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 13th July , 2023

Threshold freeze to hit 1.5m more workers than forecast New calculations by the Centre for Economics and Business Research show that 4.2m workers will become basic rate taxpayers because of the freeze on tax thresholds, [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 12th July , 2023

Economy grew by 0.1% in Q1 - ONS Office for National Statistics (ONS) data shows that the economy grew by 0.1% in Q1. The report, which offered a more thorough analysis of figures released in May, shows that GDP was up b[...] continue reading