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By Armstrong Watson

17th January 2022

New Plastic Packaging Tax for UK Businesses

New Plastic Packaging Tax introduced by HMRC to encourage businesses to use recycled plastics in their packaging.

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By Richard Andrew

11th January 2022

HMRC waives Self Assessment late filing and late payment penalties for one month to ease Covid-19 pressures

HMRC has announced it will be waiving late filing and late payment penalties for Self Assessment taxpayers for one month however taxpayers with sufficient funds would be best advised to submit their tax returns and pay their tax liabilities by 31 January.

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By Andy Poole

7th January 2022

Starting up a new law firm - a new guide from Law Firm Ambition

Law Firm Ambition is a website that “makes it easier to grow your law firm”. It is a collaboration between seven leading suppliers to the legal services sector. Together, we are providing a library of constantly updated tips and advice, including FAQs, checklists, and articles. We also collaborate on podcasts and webinars.

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Grow interest plant

By Armstrong Watson

4th January 2022

Would you like to boost the interest earned on your client money?

It is no secret that interest rates on client and office accounts have fallen to historic lows. Many law firms are now receiving 0.01% on client monies and will feel a valued income source has all but disappeared. To make matters worse, as reported by the FT Adviser in February 2021, the Bank of England has written to UK banks giving them 6 months to prepare for negative interest rates

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By Marcus Dodds

23rd December 2021

The pension annual allowance trap

The annual allowance is an important number in the pension world. It sets the maximum tax-efficient amount of total contributions in a tax year – from any source – that can be made to pension schemes for your benefit. If the allowance is exceeded, then any tax relief you receive on the excess is effectively clawed back by the annual allowance charge.

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By Armstrong Watson

22nd December 2021

Is your business ready for full customs controls?

From 1 January 2022, businesses that permanently move goods to Great Britain from other EU countries will need to be aware that full customs controls are being introduced.

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Inflation in UK 10 year high

By Armstrong Watson

21st December 2021

Inflation hits a 10-year high - what could the impact be on your savings?

Rising inflation continues to represent a challenge to savers, who must at the very least aim to beat it to prevent their money from losing value in real terms. So how can cash savers bridge the gap?

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By Armstrong Watson

21st December 2021

Preparing for your year-end financial planning

As 5 April 2022 creeps ever closer, if you haven’t already, it is always good to try and get ahead with your year-end financial planning.

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By Richard Andrew

21st December 2021

What does the interest rate rise mean for you?

The Bank of England base rate has risen to 0.25% after being held at a record low since the start of the pandemic. But what does this mean for you and your business?

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By Armstrong Watson

16th December 2021

Capital Gains Tax and Inheritance Tax - where next?

Despite widespread speculation on likely changes to Capital Gains Tax (CGT) and Inheritance Tax (IHT) the Chancellor refrained from any reform of these taxes in 2021. What does this mean for farm businesses? 

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