Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 09th December , 2022

HMRC to shut down Covid fraud taskforce HMRC is to begin winding down its Taxpayer Protection Taskforce from March next year with the view to having it completely closed down by September. The specialist team of 1,250 o[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 08th December , 2022

Ministers launch review into late payments The Government is launching a review into the slow and late payment of small company debts which is an issue that affects many motorsport businesses. Business Secretary Grant Sh[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 07th December , 2022

Tax as a share of the economy hits 33.5% Organisation for Economic Co-operation and Development (OECD) data shows that taxes as a share of the British economy rose by 1.4 percentage points to 33.5% in 2021. That was the [...] continue reading

posted in Business advice for motorsport businesses by Phil harris on 05th December , 2022

Those earning more than £125,000 and still paying off their student loan face an effective top tax rate of more than 90%, according to analysis. This if course affect many working in motorsport. While the top rate [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 30th November , 2022

Tax take rises 30% in five years, hitting motorsport businesses hardHMRC collected £757bn in taxes in the year to 31 October 2022, up from £584bn in 2015/16, official figures show. After rising by 30% over th[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 29th November , 2022

Inflation hits a 41-year high Office for National Statistics (ONS) figures show that inflation increased to 11.1% in October, with this up from 10.1% in September and marking the highest level since 1981. The jump came w[...] continue reading