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MBO Engineered in the Midlands
We are delighted that our Corporate Finance team have been instrumental in an engineering solutions business changing hands in a multi-million pound management buy-out funded by Santander Corporate Banking. The Engineering Technology Group Limited supplies high specification machine tools and fixtures and provides engineering services to companies in the automotive, aerospace, and other specialist manufacturing…
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Autumn Statement, non-tax announcements
Following our earlier blog post on the tax changed announced in the Autumn Statement on 6th December here the following represent the other non-tax headline changes announced on Wednesday. Small Business Rate Relief The present Small Business Rate Relief Scheme is to be extended for a further year to April 2014. Anti-Avoidance and tax evasion The…
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Autumn Statement Tax Changes
On Wednesday 5 December 2012, the Government delivered its Autumn Statement. The Chancellor announced this year he was seeking to offer ‘new support for business and enterprise’. We have detailed below the main tax measures introduced. We have also provided commentary on the changes announced. Business Tax • The main corporation tax rate for 2014…
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HMRC ‘hitmen’ watching your spending
Hot on the heels of H M Revenue & Customs (HMRC) going to the extraordinary lengths of advertising on billboards and the back of buses see our previous blog article here, the Inland Revenue have confirmed they are setting up a “crack team” of tax inspectors to review what people are spending. Using data from credit rating agencies,…
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Seed EIS scheme explained
Investors in higher-risk smaller companies have benefited for a number of years from the Enterprise Investment Scheme (EIS). The new SEIS is targeted to provide funding for early stage companies who may find it difficult to raise seed capital. Recognising these needs, the SEIS scheme also offers investors higher tax breaks than the existing EIS. The SEIS…
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MACHINE GAMES DUTY- ARE YOU READY?
On the 1st February of next year income from certain gaming machines will become subject to new form of duty known as Machine Games Duty (“MGD”), which replaces Amusement Machine Licence Duty and VAT. Machines that will be affected are those where at least one of the available prizes is or includes cash more than…
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HMRC to advertise for Tax Dodgers!
From today, HMRC have taken the unusual step of advertising for people to pay more tax. For the next two weeks, HMRC will be running adverts on billboards, bus shelters and telephone boxes, all in an effort to encourage tax cheats to come forward and declare any undisclosed income. HMRC has set up a website to…
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VAT reclaim on business mileage claims
Many (most) employers no longer provide company cars, or fuel to their employees so as to avoid the penal, and ever increasing tax charges on them as benefits in kind. It has long been custom where employees use their own vehicles for business journeys to reimburse for the business mileage using fixed mileage rates. In…
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New Child Benefit Tax Charge
From 7 January 2013, a new tax charge will be imposed on all individuals who receive the Child Benefit and whose income, or their partner’s income, exceeds £50,000 in a tax year. The charge will be proportionately increased until the claimants income exceeds £60,000. At that point, the charge will cancel out the child benefit,…
The Autumn Budget could be one of the most important financial events of the year for owner-managed businesses. With the Government under pressure to raise revenue and businesses already dealing with higher costs, tighter margins and cautious customers, business owners should be prepared for changes that may affect tax planning, …
August 28, 2026
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