Swindells Accountants & Tax Experts

Research and development (R&D) tax credits are a crucial incentive designed to encourage businesses to innovate and invest in new technologies. Yet many businesses are unaware of their benefits and whether they are entitled to apply. Our latest update unlocks the benefits of research and development tax credits for your business. Who can claim R&D tax credits? What costs can they cover? Find out here: https://lnkd.in/ekG_GsqF #accountants #sussex

Receiving notification that HM Revenue & Customs requests a personal tax compliance check can be worrying, but understanding the process and why you may have been selected can be reassuring. #HMRC uses advanced technology and human insight to decide which tax returns to review. The Connect system, launched in 2010, plays a significant role in this process. The system collects and analyses data from various sources, including banks, employers, government departments, and even social media. It then compares this data with the information recorded on the tax return to identify discrepancies. Our latest Spotlight series examines how to handle a personal tax compliance check. Download it here https://lnkd.in/ebrYp68n #accountants #sussex

Choosing the appropriate structure for your business is one of the first and most important decisions you will make. It affects everything from your tax obligations to the level of personal liability you will face and even how you can raise funds. If you are thinking of starting a business or restructuring an existing business, it is worth taking a closer look at the options available to ensure you make the best choice for your business. Download our latest blog, and contact us if you need to discuss business options. https://lnkd.in/evnbbgks #business #accountants #sussex

Personal tax compliance checks can sound intimidating, but with the right preparation and understanding, you can take control and manage the process. Why might you be selected for a personal tax compliance check? Some of the most common reasons are • inconsistent information or discrepancies between your tax return and the data HM Revenue & Customs holds • missing information or failing to declare income from various sources • a significant change in income from one year to the next • regularly filing late returns • higher-risk occupations or industries (like cash-based businesses) • random selection as part of HMRC’s routine investigations How to deal with a compliance request from #HMRC - our latest download has all the information you need to prepare for such an eventuality. https://lnkd.in/ebrYp68n #sussex #accountants #taxupdates

With the supply of homes for sale at a seven-year high, our latest October roundup looks at the current state of the #property market, regional differences, and the average cost of a UK home. With buyers having plenty of options when offering on a property in a market with record levels of supply, sellers must be mindful of their pricing strategies. Research has found that homes requiring a price reduction are taking more than twice as long to sell as those without cuts. One in five sellers lowered their asking price in August 2024, and in London, the property market recorded an increase of 0.2%, with the average home costing £536,300. Are you looking to buy or trying to sell a property? Download our latest update for a snapshot of the market. https://lnkd.in/epcK3bDV #accountants #sussex

Wealth managers and tax experts have reported a surge in asset sales among business owners, property investors, and shareholders ahead of the upcoming October Budget. This increased activity comes as concerns mount that the Labour administration will increase taxes to address a £22 billion shortfall in public finances. Advisers are reporting that clients are selling assets to external buyers and exploring alternative strategies such as selling into family trusts or gifting assets to younger generations to avoid capital gains tax increases. Talk to us today about your taxes, and read more on this story in our October update. https://lnkd.in/epcK3bDV

Our October news update is now available with details of the new #fuel rates for drivers, including petrol, diesel, LPG, and electric cars, the new HM Revenue & Customs campaign to ensure all #crypto-asset owners are reporting correct tax details, capital gains tax hikes concerns, and #house price rises. Ahead of the Autumn Statement on 30 October, download our free roundup here: https://lnkd.in/epcK3bDV Follow us for daily finance news and updates! #accountants #sussex

The number of self-employed people aged 60 or over has reached a record level in the UK, according to analysis by Rest Less UK. The numbers have increased by over a third in the last decade, totaling 991,432 self-employed people aged 60 or over in 2023, with the total number of workers who are self-employed at around 4.3 million. With the state #pension age soon to be 67 and set to go higher still, many people are choosing to work beyond the point of traditional #retirement. Do these figures surprise you? Talk to us about your retirement plans. https://lnkd.in/eGgh3hng #accounting #business #sussex #taxes #personal #finance

The RAC has called for the scrapping of the 5p fuel duty and reducing petrol prices in the upcoming Autumn Statement, with Simon Williams, Head of Policy at the RAC, stating that: 'As more and more EVs come onto the roads, the government will need to tax drivers differently. We think replacing fuel duty with a pay-per-mile system as soon as possible is the way forward as then the only tax levied on fuel would be VAT. This would give retailers nowhere to hide.' The #RAC suggested that average #petrol prices should be reduced from 142p per litre to 136p per litre and diesel prices from 147p per litre to 139p per litre. Talk to us about your taxes. Full story: https://lnkd.in/ezukHBC2 #accountants #taxes #sussex

HM Revenue & Customs scored just 2.4 out of 10 for "being responsive," 2.8 for "making things easy," and 3.5 for "getting things right," according to the annual #HMRC Charter Report, which measured performance against the Charter from April 2023 to March 2024. The survey received over 1,600 responses, with complaints about service levels a recurring theme. Richard Wild, The Chartered Institute of Taxation's (CIOT) Head of Tax Technical, stated, "Businesses are prevented from operating effectively due to the inability to obtain timely registrations or responses. Taxpayers' legitimate refunds are withheld or delayed..." Talk to us about your tax issues. https://lnkd.in/eMHTYCWF #accountants #sussex #business #tax