In April 2020, one unidentified bitcoin wallet transferred 161,500 BTC to another unidentified bitcoin wallet in one single transaction with the current worth being approximately $1.1 billion, making this the largest bitcoin transaction of all time. Introducing cryptoassets… Cryptoassets (often referred to as ‘tokens’ or ‘cryptocurrency’) are digital or virtual currency/assets that are secured by…
With the technology behind electric vehicles improving year on year, it’s no surprise that switching to an electric car is an increasingly enticing option for drivers. As well as the environmental benefits, as a business owner, it could also make a lot of financial sense. The main financial advantages are: Extremely low benefit in kind rate The…
Amongst all the present focus on the coronavirus, Rishi Sunak has delivered his first budget as chancellor. With a mix of expected and surprising changes to tax and the wider economy, we highlight some of the important considerations. National Insurance As pledged in the Conservative manifesto, the government are delivering on their promised national insurance…
Amid growing concerns about the scale of disruption expected because of the coronavirus, the Bank of England has today announced an emergency cut in interest rates. Why has the cut been made? The decision by policymakers to reduce rates from 0.75% to 0.25% was not only taken to lessen the cost of borrowing to historically…
With big changes to the way Capital Gains Tax (CGT) due from residential property sales is reported and paid coming on 6th April, it is important to understand how this could affect you. What are the changes? The impending changes primarily reduce the time period allowed to report and pay the Capital Gains earned on…
Whether you are looking to reduce your environmental impact or save money, there are several great reasons to consider getting an electric car through your company. What are the tax implications for the business? One of the biggest differences between electric vehicles (EV) and their petrol counterparts is how they are treated for tax purposes….
What you need to know about the upcoming changes to Entrepreneurs Relief Entrepreneurs often see their business as a valuable asset to provide them with pension when they retire and have been counting on Entrepreneurs’ Relief (ER) to minimise the capital gains tax on sale of their business. However, with the 2020 budget around the…