New supplementary form required for R&D Tax Credit claims
Starting from 8 August 2023, all claims for Research and Development (R&D) Tax Credits will need an online Additional Information Form (AIF) to be filled out with extra details about…
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Pension tax overpayments hit £56 million
Pension tax overpayments shot up to £56 million in the second quarter of 2023. This marks an increase of almost £8 million from the first quarter of the year, says…
The perks of Employee Ownership Trusts
Introduced in 2014, Employee Ownership Trusts (EOTs) give a good alternative to the usual ways of passing on a business. They offer unique benefits to businesses, their employees, and the…
Eight ways your accountant can help your business thrive
Many people think accountants only deal with taxes and ensure their clients remain compliant with the law. However, this is not the case. Accountancy firms, like Macalvins, can do so…
Understanding the High-Income Child Benefit Charge (HICBC) and upcoming adjustments
The High-Income Child Benefit Charge, or HICBC, is a tax, impacting households where at least one person looking after the child earns more than £50,000 a year. This tax applies…
Understanding why businesses don’t meet the national minimum wage and how to prevent such errors
Recently, the Government identified over 200 businesses, of various sizes and from diverse sectors, that didn’t meet the national minimum wage (NMW). Big names like WH Smith, Argos, and Marks…