Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 04th May , 2023

Inheritance tax take soars to £7.1bn The number of families paying inheritance tax has reached a 20-year high, with HMRC figures showing that around 41,000 are now liable to pay IHT. This marks a 24% increase on th[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 03rd May , 2023

Small firms gain confidence, but remain pessimistic The Federation of Small Businesses has warned that SMEs across Britain believe that the cost of living squeeze is holding back economic growth, after two in five compan[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 02nd May , 2023

Late payments and operating costs soar Insurer Allianz has warned that businesses may struggle to access credit as operating costs hit their highest levels since 2008 and late payments soar. Credit is set to become more[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 28th April , 2023

Some tax allowances have been frozen for more than 40 years The Telegraph examines several tax thresholds that have been frozen for decades, costing households thousands. The inheritance tax gifting allowance has been fr[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 27th April , 2023

Ministers warned that tax traps are crushing incentives to work Experts say high marginal rates of tax are hitting incentives to work, with swathes of graduates facing a 55% tax trap. Economists and policy experts have w[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 26th April , 2023

Tax take hits record £786.6bn The tax burden hit a record £786.6bn last year, with data from HMRC showing that the tax take rose by 9.9% year-on-year in 2022/23. Receipts from inheritance tax hit a record &po[...] continue reading