On The Spot Accountants Franchising

18/12/2025

The original influencer? And his tax bill....

You may think Santa is a Charity, but I'm not so sure. Perhaps as a well known personality with global reach, he is in reality the original Influencer.

18/03/2025

Looking forward to our quarterly meeting this week 👀

Aside from sharing many techincal points which arose over the last few months such as saving corporation tax with group relief allocation, training costs deductions, sole trader franchisee costs tax relief, we're going to live through some examples as to how ChatGPT can be an assistant (not an accountant 😊). We're working towards some common prompts that will work best for what we do - small business finance and tax - and how we work... 👏

30/10/2024

Please see how spooky Budget 2024 might be for you:

Autumn Budget 2024 Tax Changes

29/10/2024

By all accounts Halloween is coming a day early this year 🎃

Here is my list of tricks (no treats) I think we're likely to see tomorrow:

1. Employer's NI increase from 13.8% to 15%.
2. Corporation tax becomes a flat rate 25% at all profit levels.
3. These added together mean the after-tax cost of employer's NI stays at just over 11%.
4. Employer's NI annual allowance of £5k stays the same, which allows one employee on £42k or two on £26k to be employed without paying any employer's NI.
5. Increase basic rate dividend tax from 8.75% to 10%.
6. Scrap salary sacrifice for pensions because it tends to favour higher earners.
7. Make pension pots subject to inheritance tax at all ages to encourage use of funds before death.
8. Capital gains tax increases for other assets from 10%/20% to 18%/24% to match residential property - could be higher but it seems 18%/24% isn't changing.
9. Scrap entrepreneurs relief (BADR) for company liquidations and strike offs to discourage 'money boxing'.
10. Make all share buybacks subject to dividend tax to encourage sale or investment.
11. Restrict carry forward of trading and capital losses to a time limit - currently can be carried forward indefinitely.
12. Reduce annual ISA limits from £20,000 to £5,000.
13. Scrap £5,000 starting savings rate of 0% - most people don't realise they're getting it!
14. Scrap capital gains tax uplift on death to encourage more business gifts and sales during an owner's lifetime.
15. Remove AIM from the definition of unquoted company to reduce value of IHT 100% business property relief.
16. Increase time to avoid inheritance tax on lifetime gifts from 7 years to 10 years - also has symmetry with the new non-Dom rules.
17. Scrap inheritance tax agricultural property relief because this favours landlord farmers rather than working farmers who usually get 100% business property relief.
18. Prevent use of previous 3 years unused £60k annual pension allowance.

As well as taking away favourable tax treatments from people with more wealth, I can see simplification and saving HMRC's time being favoured.

Good luck! 🤞👻