Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 05th March , 2024

Ever wondered why we have a Budget each year and why the tax year end on the illogical date of 5th April? Well, the reasons are rooted deep in history, and the reasons for some cornerstones of the tax system now seem irr[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 04th March , 2024

140k small business accounts debanked last year High street banks shut over 140,000 accounts held by small businesses last year, raising concerns about debanking. The closures accounted for 2.7% of the 5.3m business acco[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 01st March , 2024

HMRC extends MTD to landlords and sole traders As of 2027, HMRC will extend its Making Tax Digital (MTD) programme to landlords and sole traders with income over £30,000. All businesses and landlords earning over &[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 29th February , 2024

Scrapping IHT would boost GDP more than income tax cuts Analysis by the Growth Commission suggests that abolishing inheritance tax would deliver a bigger increase in per capita GDP than an equivalent cut to income tax. A[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 28th February , 2024

Stealth taxes set to add over £100bn to tax burden Stealth taxes are projected to increase the tax burden by over £100bn by the end of the decade, according to the Institute for Fiscal Studies (IFS). The IFS [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 27th February , 2024

The latest inflation figures have just come out and inflation remains unchanged at 4%. Last month, with inflation at that level, the Bank of England left interest rates unchanged so they will probably do the same thing t[...] continue reading