All you need to know about making tax digital.
Making Tax Digital (MTD) is a UK government initiative aimed at simplifying and modernising the tax system. It requires businesses and individuals to keep digital records and submit tax returns using compatible software. MTD started with VAT-registered businesses in April 2019 and is gradually expanding to other taxes like Income Tax and Corporation Tax. The […]
Capital Gains Tax on Crypto in the UK
Capital gains tax refers to the Tax imposed on the profits when selling Cryptocurrency, this can include sale of shares. The Capital Gains Tax is not automatically deducted by the HRMC like other taxes, The user must report the Capital Gains Tax (CGT) to the HMRC. If you fail to report the HMRC them they […]
Budget 2024 Predictions: What Businesses Need to Know
As we approach the Budget 2024, businesses are bracing for potential tax changes that could impact their operations and finances. With Chancellor Rachel Reeves set to unveil a series of measures, it’s clear that the UK government is focused on addressing economic challenges and the much-debated £22bn fiscal gap. While the Chancellor has ruled out […]
Was Starmer’s Investment Summit a Success?
The key theme of Sir Keir Starmer’s International Investment Summit was “stability.” Addressing the UK’s political volatility of recent years, Starmer emphasized that his party’s majority would usher in a more predictable and stable economic environment, which is crucial for long-term investors. International business leaders, such as Anders Opedal, CEO of Norwegian energy giant Equinor, […]
Surge in Larger Homes for Sale Amid Capital Gains Tax Fears, According to Rightmove
As speculation grows about potential changes to the capital gains tax (CGT) in the UK’s October budget, there has been a notable surge in larger homes being put on the market, according to Rightmove, the UK’s leading property website. With an expected CGT hike looming, property owners—particularly those with more significant assets—are choosing to sell, […]
CGT: ‘Choosing to Leave UK’ Over Feared Capital Gains Raid
As speculation grows over potential increases in Capital Gains Tax in the upcoming autumn Budget, entrepreneurs and high earners are making critical financial decisions to safeguard their wealth. The Labour government’s potential tax reforms, particularly concerning CGT, have prompted many business owners and investors to expedite transactions or even consider leaving the UK entirely. The […]
Intangible Assets Valuation: Methods and Insights
In an age dominated by information and innovation, the most valuable assets of a business are no longer just physical structures or tangible resources. The economy has evolved from transforming raw materials into physical products towards a technology-led society where intangible assets such as brand names, patents, proprietary software, and customer relationships are now the […]
The Labour Party’s New Deal for Working People: Implications for Employers
The professional accountants at BSO Fintax understand the intricacies and implications of policy changes on businesses. The Labour Party’s New Deal for Working People proposes significant reforms that aim to modernise the workplace, improve worker rights, and foster better industrial relations. Here’s a detailed analysis of how these changes might affect employers and businesses. Enhancing […]
Business Valuation: An Essential Guide by BSO-Fintax
There are various methods to calculate business valuation, each with its own strengths and weaknesses. Often, a combination of these methods is used to arrive at a more comprehensive and accurate valuation.
Understanding Umbrella Companies in the UK: A Comprehensive Guide
Are you a contractor or freelancer looking for a simplified and compliant way to handle payroll, taxes, and employment responsibilities? Umbrella companies in the UK might be the solution you need….
