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Cottons Tax Advisory Service

Tax Advice

Rishi Sunak has cut red tape on inheritance tax

The Treasury said it plans to cut inheritance tax (IHT) red tape in a move designed to reduce the paperwork families need to fill out

29th March 2021

Tax Advice

Tax changes and key dates for 2021

April 5: Inheritance tax rules changes By April 2021 married couples will be able to leave up to £1 million tax-free to their direct descendants.

19th January 2021

christmas presents under a tree

Accounting Advice

Your 2020 ‘Covid free’ guide to Christmas gifts and tax breaks

We all like to receive gifts but are you aware that there are also tax breaks when giving gifts too!

16th November 2020

Research and Development Tax for business

Tax Advice

Research and Development Cash Injection….

Businesses are naturally concerned about cash flow, trade after lockdown and the debt associated with using the government-backed loan schemes. R&D tax credits can help

19th June 2020

Guidance for SMEs

Are you eligible for R&D tax credits?

One of the benefits from the Research and Development (R&D) tax relief is that it provides support not only for profitable companies but also those

12th June 2020

Tax Advice

IR35 Update – DELAY TO PRIVATE SECTOR IR35 REFORM

Speaking in Parliament on Tuesday evening, Chief Secretary to the Treasury Steve Barclay said: “The government is postponing the reforms to the off-payroll working rules,

18th March 2020

Wealth Management

Wealth Management

Paying the professionals: Do I need a wealth manager?

Getting your affairs in order is complicated and many people will have considered enlisting the services of a wealth manager, either on an ad-hoc or

30th January 2020

Spotlight on the construction industry

Guidance for SMEs

Spotlight on the construction industry – UPDATE!

HMRC announced Friday afternoon that the VAT Domestic Reverse Charge will now be delayed until October 2020.

9th September 2019

Spotlight on the construction industry

Guidance for SMEs

Spotlight on the construction industry again!

The introduction of the VAT domestic ‘reverse charge’ for building and construction services comes into effect from 1 October 2019. This is an important change

9th July 2019

Start Up for Entrepreneurs

Small Business Finance

Preparing your new business for success

Fifty percent of start-up businesses fail in the first year and 95 percent fail within the first five years but despite the economic downturn, the

14th May 2019

Landlord Updates

Property News

More landlords turning to accountants for assistance

New research has suggested that more than half (58%) of landlords are involving accountants when making key property decisions.

5th April 2019

christmas presents under a tree

Accounting Advice

Tax Breaks and Christmas Gifts

We all like to receive gifts but are you aware that there are also tax breaks when giving gifts too!

28th November 2018

Budget 2018

Cottons News

Budget Report 2018 – A Summary

Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech, he stated that ‘austerity is coming to an end

2nd November 2018

Shopping Retail Cottons

Tax Advice

Tax Saving Tips for Retailers

In 2017 Amazon almost halved its declared UK corporation tax bill. It went from £7.4m in 2016 to £4.5m and understandably left many SMEs frustrated,

27th September 2018

Tax Free Child Care Update

Tax Advice

Tax Free Childcare – Last Chance……

Since our article at the end of last year, HMRC have extended the deadline before the childcare voucher scheme is closed to new entrants. Rather

12th September 2018

a post it with VAT written on it

Accounting Advice

VAT: Flat Rate vs Standard Rate Schemes

VAT: Flat Rate vs Standard Rate Schemes Value Added Tax is a sum of tax paid against the value of an item. The VAT figure

13th August 2018

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