Maligned by some and celebrated by others, Inheritance Tax affects the estates of those who have passed away. This includes any assets, such as property, possessions and money, with the tax bill falling at the feet of those who have inherited these assets. Obviously, this can be a source of anxiety for some, who don’t… Read more…

Salhan Accountants are delighted to announce the acquisition of M.D. McFerran & Co Ltd. We warmly welcome them to the Salhan team along with the clients they bring with them. M.D. McFerran & Co Ltd have spent many years serving small and medium sized businesses with a wide range of accounting services. We are greatly… Read more…

Businesses will receive reduced support for their energy bills from April as the UK government attempts to cut the cost of compensating for soaring gas and electricity prices, the Treasury has confirmed. The Treasury said that the government will cap support at £5.5 billion for businesses over 12 months from 1 April 2023. Bills will… Read more…

The Bank of England (BoE) has raised the base rate of interest to the highest level in 14 years. The BoE raised interest rates for the tenth consecutive time on 2 February with a half point increase taking the base rate from 3.5% to 4%. The decision was taken after the Monetary Policy Committee (MPC)… Read more…

The government has launched a consultation on simplifying the UK’s research and development (R&D) tax relief system, driving innovation and growing the economy. The consultation runs to 13 March 2023 and sets out proposals on how a single scheme could be designed and implemented. This would replace the two R&D tax relief schemes currently in… Read more…

Fewer firms are increasing their investment in training and development despite a skills shortage, according to a survey by the Confederation of British Industry (CBI). The survey found that the proportion of firms intending to increase investment in training and development over the next year has fallen. It also showed a widespread lack of awareness… Read more…

The UK’s business confidence has dropped to a 13-year low, according to a survey conducted by the Institute of Chartered Accountants in England and Wales (ICAEW). The ICAEW’s latest Business Confidence Monitor (BCM) showed that record high inflation and rising costs, including energy and the cost-of-living crisis, have adversely affected business confidence. The latest monitor… Read more…

Many small firms in the UK face challenges when it comes to finding and applying for funding, according to a report published by the Federation of Small Businesses (FSB). The FSB’s report found that ‘widespread uncertainty’ exists among small businesses in regard to where to get information on the types of finance available to them.… Read more…

The British Chambers of Commerce (BCC) has warned that small and medium-sized enterprises (SMEs) that export are facing ‘tightening pressure’ as a result of decreasing export sales. The BCC’s quarterly Trade Confidence Outlook report, which polled more than 2,300 SMEs, showed that 27% of exporters recorded decreased export sales during the fourth quarter of 2022.… Read more…

HMRC has revealed that more pensioners filed a tax return for the 2020/21 tax year compared to young people. Overall, those aged 65 and over accounted for 16% of individuals who submitted a tax return, whereas 16 to 24-year-olds made up 2.7% of total filers. The new data is part of an analysis by HMRC… Read more…