New R&D supplementary information form in effect
As of 8 August 2023, all Research and Development (R&D) Tax Credit claims require the submission of an online Additional Information Form (AIF) providing supplementary…
Continue readingWelcome to the Orchard Accountants blog. This is our hub of information where we will detail company developments as well as provide news and insight into the ever-changing world of finances and accounting. If you read something which strikes to your interest, and you’d like to learn more about a particular topic or service we provide, don’t hesitate to get in touch with us today.
£56 million overpaid in pension tax
In the second quarter of 2023, overpayments on pension tax in the UK reached £56 million. This was an increase of nearly £8 million from…
Continue readingThe benefits of Employee Ownership Trusts
Introduced in 2014, Employee Ownership Trusts (EOTs) provide an attractive alternative to traditional business succession strategies, offering a series of unique benefits to businesses, their…
Continue readingEight ways your accountant can boost the success of your business
Accountants are often seen as guardians of tax and compliance. However, their expertise extends far beyond these areas. They can act as problem solvers,…
Continue readingWhat you need to know about the High-Income Child Benefit charge and the upcoming changes
The High-Income Child Benefit Charge (HICBC) is a tax that affects households where at least one person with parental responsibility has a taxable income exceeding…
Continue readingWhy companies fail to pay the National Minimum Wage and how to avoid the same mistakes
The Government recently named over 200 companies for failing to pay the national minimum wage (NMW). The list includes firms of all sizes and various…
Continue readingHow businesses can navigate and avoid tax disputes with HMRC
Tax disputes can be a significant drain on resources for any business, and with recent data suggesting that over 60 per cent of businesses are…
Continue readingBeneficiaries could see inherited pensions taxed as new proposals by HMRC are published
Currently, if someone dies before the age of 75, their pension can be drawn out by beneficiaries’ tax-free, as it is exempt from Inheritance Tax…
Continue readingResearch and Development tax relief changes
The Government has recently updated some elements of the Research and Development (R&D) tax relief application process. (more…)
Continue readingHM Revenue & Customs pledge £5.5 million to support customers
HM Revenue & Customs (HMRC) has recently stated that they will pledge £5.5 million to organisations who are in the voluntary and community sectors to…
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