Higher tax bills for sole traders and partnerships?
A change ahead could result in higher tax bills for sole traders and partnerships as the procedure for assessing when trading profits are taxed is changing radically. The change means a major overhaul for unincorporated businesses using anything other than 31st March or 5th April as their accounting date. Businesses with year ends between […]
Company director remuneration takes a hit
Changes announced in the Autumn Statement will be keenly felt by many company directors, especially where profit extraction has traditionally relied on a strategy of low salary and higher dividend payment. The freezing of the income tax personal allowance is one major factor, especially for company directors. This is now set at £12,570 until […]