Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 07th December , 2022

Tax as a share of the economy hits 33.5% Organisation for Economic Co-operation and Development (OECD) data shows that taxes as a share of the British economy rose by 1.4 percentage points to 33.5% in 2021. That was the [...] continue reading

posted in Business advice for motorsport businesses by Phil harris on 05th December , 2022

Those earning more than £125,000 and still paying off their student loan face an effective top tax rate of more than 90%, according to analysis. This if course affect many working in motorsport. While the top rate [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 30th November , 2022

Tax take rises 30% in five years, hitting motorsport businesses hardHMRC collected £757bn in taxes in the year to 31 October 2022, up from £584bn in 2015/16, official figures show. After rising by 30% over th[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 29th November , 2022

Inflation hits a 41-year high Office for National Statistics (ONS) figures show that inflation increased to 11.1% in October, with this up from 10.1% in September and marking the highest level since 1981. The jump came w[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 28th November , 2022

The government’s freeze on income tax thresholds will see some motorsport workers’ tax bills rise by the equivalent of a 3.5% hike in the headline rate of tax Someone on a salary of £50,000 [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 25th November , 2022

Motorsport Businesses fear for their futures A poll by software company FreeAgent shows that a quarter of SMEs believe the economy has been damaged irreversibly by the pandemic. It was also shown that 64% of busine[...] continue reading