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Welcome to our December newswire

Our aim is to keep you up-to-date with ideas and information that will help you gain the best possible advantages in working with us.

This newswire will be sent regularly to help achieve this aim, and we hope you enjoy reading them.

Income tax thresholds freeze – What it means for you

Millions of new taxpayers will be created by the extended freeze on the income tax thresholds.   In the Autumn Statement, the Government froze the thresholds until 2028 – two additional years on its original plans.

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What is the ultimate goal of your business?

Planning for the future is essential when running a business and, ideally, you should have a perspective of where you want to be in three to five years. Goals or targets provide a sense of direction, focus, and motivation.

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R&D relief slashed – Time to plan

Chancellor Jeremy Hunt has announced a series of changes to the UK research and development (R&D) tax credit regime, including a cut to the deduction and credit rates for the SME scheme.

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Companies House goes fully digital

Companies House has gone fully digital after the announcement of the closure of its office in London and all filing being transferred online. It has also permanently shut the public counters in Cardiff, Belfast and Edinburgh.

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Be prepared for changes to Capital Gains Tax thresholds 

The exemption for paying Capital Gains Tax (CGT) is changing. The CGT annual exemption will fall from £12,300 to £6,000 from April 2023, before being cut in half again to £3,000
from April 2024.

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At Richard Anthony we solve problems.

Richard Anthony Chartered Accountants - 2nd floor, Gadd House, Arcadia Avenue, London N3 2JU
Telephone: 020 8349 0353 | Email: info@richard-anthony.co.uk

Registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk for the UK, under reference number C006479741.

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