Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 26th January , 2024

IHT receipts hit record high Inheritance tax (IHT) receipts are on course to exceed records, with HMRC having received £5.7bn in the nine months between April and December 2023. This is £400m more than in the[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 25th January , 2024

Millions now face having to pay tax on savings interest Soaring interest rates have resulted in a significant increase in the number of savings accounts that have earned enough interest to warrant a tax bill. Last year, [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 24th January , 2024

Working from home has recently been all the rage and proponents tell us that it boosts productivity. There has not been much research into the subject but a recent report by the Federal Reserve Bank of San Fransisco has [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 23rd January , 2024

HMRC tax penalties hit record high The value of HMRC tax penalties surged by 25% between 2022 and 2023, with the £851m in penalties imposed between November 2022 and October 2023 marking a record high. The total wa[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 22nd January , 2024

1 in 3 higher-rate taxpayers missing out on pension tax relief Analysis by Interactive Investor suggests that a third of higher-rate taxpayers could be missing out on additional tax relief on their pension contributions [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 19th January , 2024

1m investors face dividend tax bills for first time More than 1m investors will pay tax on investment dividends for the first time from April as allowances are halved. Cutting the annual tax-free dividend allowance from [...] continue reading