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Claims for research and development tax credits hit record high

According to official figures which have been released by HMRC, research and development (R&D) tax credit claims have hit a record high.   Data from the 2014/15 financial year shows that claims totaled £1 billion but by 2015/16, this figure had risen to £1.345...

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Abolishment of class 2 national insurance gets delayed

Chancellor Philip Hammond has delayed the decision to abolish class 2 national insurance contributions (NICs) by 12 months.   The policy, which was first announced by Hammond’s predecessor George Osborne in 2016, would have seen class 2 NICs incorporated in reformed...

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VAT Threshold Frozen Until 2020

It will come as a huge relief to small businesses to hear that Chancellor Philip Hammond resisted calls to lower the VAT registration threshold in last month’s Autumn Budget.   Rumours about this started circulating after The Office of Tax Simplification (OTS) made...

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Late payments continue to hit SMEs

A survey carried out by the Banking group, Close Brothers has revealed that two-thirds (66%) of small businesses are struggling because their clients fail to pay their bills on time.   Among the 900 small business owners who were polled, it was found that this problem...

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Autumn Budget 2017

Chancellor Philip Hammond delivered his Autumn Budget yesterday. From increases in personal tax allowance and the National Living Wage to that surprise stamp duty announcement, how will the Autumn Budget affect you?   Download our full Autumn Budget 2017 Report If you...

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