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The Accountants for Growth

Corporate Super Deduction

Corporate Super Deduction
What is it?
  • It is a 130% first year allowance deduction for expenditure incurred in purchasing plant & machinery that would normally qualify for a main rate writing down allowance of 18%.
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    When can you claim it?
  • You can claim it for expenditure incurred on or after 1st April 2021 up to and including 31st March 2023.
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    Pre Year End Tax Planning

    Pre Year End Tax Planning
    With the tax year coming to a close in a month’s time, the time is now to take control of your taxes through effective and Bona fide planning.
     
    Unfortunately too many people address tax planning when it is too late. So when is too late? 
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    How to make sure that transfer of a property between group companies is really tax free

    How to make sure that transfer of a property between group companies is really tax free
    How to avoid a tax headache when transferring property between group companies. Businesses often look to hold their business premises in a separate company from their trading company as there may be a higher risk of financial claims being made against the trading company. The usual strategy is to form a holding company to own the assets as this can provide protection in the event of such claims. Before transferring properties to a holding company careful consideration needs to be given to the tax consequences.
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    Coronavirus Job Retention Scheme (CJRS) Claims Into the Public Domain

    Coronavirus Job Retention Scheme (CJRS) Claims Into the Public Domain
    What is HMRC intending to do?
    • Publish the names of all employers who furlough employees from 1st December 2020 onwards where a CJRS claim is made.
    • Publish indicative values within a banded range relating to these claims.
    • Employees will be given access to details of their employer’s furlough claims via their HMRC personal tax account.
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    How to declare a bonus and reduce your corporation tax liability

    How to declare a bonus and reduce your corporation tax liability
    How to use bonuses effectively to reduce corporation tax. Business owners have been using bonuses to reduce their corporation tax liabilities for a long time - in this blog you will learn how to avoid the pitfalls of this strategy and to make sure that you get the tax deduction that you are looking for.
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