More recent posts
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Full expensing investment allowance: A new tax incentive for UK businesses?
Jeremy Hunt recently announced a new investment allowance, in an attempt to soften the impact of the much-criticised corporation tax hike. But will it work? Revealed in the…
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Spring Budget 2023 – At a Glance
The much-anticipated Spring Budget 2023 has been delivered by Chancellor Jeremy Hunt. Described by him as a ‘Budget for Growth’, we have provided some details of the tax…
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BUSINESS SUCCESSIONS & EMPLOYEE OWNERSHIP
Selling to a third party isn’t the only exit route for business owners. Traditional Management Buy Outs (MBO) or Employee Ownership Trusts (EOT) provide popular alternatives, also rewarding…
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Deadline extended for voluntary NIC’s
The government has announced that taxpayers will now have until 31 July 2023 to make voluntary national insurance (NI) contributions. We recently published an article stating an April…
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IWD – Alison’s Magma journey
International Women’s Day (IWD) is a global day celebrating the social, economic, cultural, and political achievements of women. In honour of this special day, we focus on the outstanding…
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Business Asset Disposal Relief (BADR) – HMRC chasing those exceeding allowance
HMRC are sending warning letters to BADR (formerly Entrepreneur’s Relief) claimants who they believe may have exceeded their lifetime allowance on their 2021/2022 tax returns. BADR can be…
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Gender pay gap reporting ‘snapshot date’ looms
Time is running out to report your gender pay gap information. As the end of the tax year approaches, reporting key financial information engulfs the business world, and…
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Magma expands Corporate Finance team with key senior addition
Magma strengthens its market position with the appointment of Chris Matthews to its Corporate Finance team. Arriving from a nearby regional firm, Chris joins Magma as a Corporate…
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IHT receipts up to £5.9bn with record breaking year expected
The latest data shows that there’s no respite in sight, with Inheritance Tax (IHT) receipts hitting £5.9bn throughout the period of April 2022 to January 2023 – a…