Annual CPI inflation hit 10.1% in September, but that does not mean every price is showing a double-digit increase. Source: ONS The September Consumer Prices Index (CPI) inflation reading is probably the most important inflation metric in a given year. Traditionally, this number is the one used by the Government as the basis for increasing … More Dissecting inflation: what a difference a year makes
The increased stamp duty relief for first time buyers has not been reversed by the new Chancellor, but it may not survive beyond the tax year. One of the few tax cuts to survive from Chancellor Kwarteng’s September’s Growth Plan is the uplift to stamp duty land tax (SDLT) relief for first time buyers. This … More First time buyers: time to act?
The biggest marshmallows are in fact VAT free. Theintricacies of VAT continue to delight or inflame, with marshmallows the latest food product to come under the spotlight. The outcome of a recent First-Tier Tribunal case means that VAT classification can now differ between miniature, regular and mega-sized marshmallows, highlighting again the importance of accurate understanding … More The marshmallow paradox – VAT or no VAT?
For owner-managed companies, bonuses, dividends and remuneration will become yet more complex in the new tax year. With the corporation tax increase and dividend rates now confirmed by the Government, the dividend vs remuneration decision for owner-managed companies is likely to become more complicated in 2023/24, particularly when it comes to bonuses. Historically, it was … More Dividends vs remuneration: the corporation tax quandary