Why succession planning is more important than ever for farmers
The Autumn Budget 2024 left farmers across the UK feeling disappointed and uncertain about their future as it was announced that Agricultural Property Relief is going to be significantly reduced. The Clayton & Brewill team explains what these changes mean and shares some tips on how farmers can protect their futures. Agricultural property relief (APR) […]
IHT relief capped for farmers: key updates from the Budget 2024
The Autumn Budget 2024 has brought with it a wave of changes, not least the introduction of a £1m inheritance tax relief cap, which will heavily impact farming businesses across the UK. Nottingham chartered accountants, Clayton & Brewill, unpacks some of the key announcements. After weeks of speculation over potential tax increases, adjustments in debt […]
A guide to tax and business motoring
Few business decisions impact your tax bill more than motoring decisions — whether you’re self-employed, a partner, company director or other employee. And with tax rules changing year on year, keeping up to date matters. From the government’s about-turn on double cab pickups, to the latest benefit in kind rates for electric cars, we cover […]
New rules for HICBC: what are your choices?
For many families, receiving Child Benefit payments has been ruled out by the High Income Child Benefit Charge (HICBC). If that’s been your experience, The Spring Budget 2024 might have tipped the balance in your favour. In this guide, Nottingham chartered accountants, Clayton & Brewill, discusses the new HICBC rules, and also looks at the […]
Spring Budget 2024: VAT threshold increased to £90,000 for SMEs
On 6 March 2024, Chancellor Jeremy Hunt delivered the Spring Budget 2024 from the House of Commons, announcing an increase to the VAT threshold and cuts to National Insurance. Nottingham chartered accountants, Clayton & Brewill, provide an overview of key measures announced. Set against the backdrop of the looming general election, the Chancellor began his […]
Making Tax Digital: remodelled and going ahead
The start dates for Making Tax Digital for Income Tax (MTD ITSA) were confirmed by Jeremy Hunt in the Autumn Statement 2023, alongside some changes to the regime. In outline, MTD ITSA involves keeping digital records and providing quarterly updates of income and expenditure to HMRC through MTD-compatible software. There is also an end of […]
Meet the Clayton & Brewill team: Amanda Stefanetti
In our latest meet the team blog, we interviewed one of our directors, Amanda Stefanetti, to learn more about what it’s like to work at Clayton & Brewill and how her role has changed since she joined the firm almost 15 years ago. What drew you to a career in accountancy? While at university, I […]
Short-term property letting: does HMRC need to know?
Many websites urge property owners to start earning from their home or spare room – but what they don’t always mention is that HMRC may want a piece of the action. Income from short-term property letting will likely need to be included in the calculation of your taxable income, although there are some occasions where […]