More recent posts
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HMRC shift furlough focus
The Government’s Coronavirus Job Retention Scheme (CJRS) scheme ended at the end of September. HMRC’s attention will now turn to reviewing the accuracy of the claims made. It…
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What can we expect from the Autumn Budget?
Despite speculation earlier in the year that it may not take place, the Chancellor is set to deliver his Autumn Budget on 27 October. What can we expect?…
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Magma shortlisted twice in Midlands’ Dealmakers Awards
Magma Corporate Finance have been shortlisted in the SME Advisory Team of the Year and Deal of the Year categories. The shortlists for Insider’s Midlands Dealmakers Awards –…
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Eight promotions at Magma
Magma Chartered Accountants are pleased to announce eight promotions across its Audit, Tax and Corporate Finance divisions. There have been five promotions within Magma’s Tax division, including Cornelia…
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Is a wealth tax the answer?
A one-off ‘wealth tax’ has been discussed as a potential method to raise significant revenue in the UK, but would it be practical? A Wealth Tax Commission (WTC)…
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HMRC recover £4bn in lost taxes
Investigation and compliance work from HMRC saved £4bn in taxes from being lost in the last quarter, nearly double the £2.2bn for the same period last year. HMRC’s…
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Family-owned business challenges
There are nearly five million family businesses in the UK. Many of them facing challenges, specific to their very nature. Three such examples are: Work / life balance…
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NICs to increase by 1.25% to help fund social care
From April 2022 certain National Insurance Contributions (NICs), paid by both employed and self-employed workers, and dividend tax rates will both rise by 1.25% in an effort to…
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The value of tax due diligence
Financial due diligence (FDD) is vital in any business acquisition and should never be overlooked. While specialist tax due diligence is a distinct component of FDD which shouldn’t…