20 March 2013 With the coalition government very much half-way down an “austerity” road, the 2013 Budget delivered no major U-turns, indeed no sharp bends. Focused on ongoing fiscal neutrality (funding tax cuts through public spending cuts), the Chancellor offered clear incentives for businesses and those that “work hard and get on”, continually referred to […]
Magma has advised MTLS Ventures on its inward investment in South West company Parsons Bakery. MTLS have acquired a “significant” minority stake in the business as part of a £1.7m fundraise, which includes a seven figure finance agreement provided by Santander Corporate & Commercial banking. The fundraising will allow Parsons to create more than 200 […]
7 March 2013 The current tax year ends on 5 April 2013. In advance of this, individuals and businesses may wish to consider potential tax planning opportunities for both the 2012/13 tax year and ahead of the 2013/14 tax year commencing. With ever changing tax rates, reliefs and allowances and the increasing complexity of the […]
HM Revenue & Customs (“HMRC”) have launched a new property sales campaign. HMRC is targeting anyone who has sold residential property (other than their main home) in the UK or abroad. HMRC believe that many have failed to disclose profits or capital gains on second home sales. Property developers, those with holiday homes or other […]
Magma is delighted that its client New Star Games picked up a BAFTA in the BAFTA Games Awards 2013 held at the London Hilton Hotel last night. It is a great success for a small, privately owned UK business, beating off competition from past AAA franchise FIFA 13 and Forza Horizon to claim the Sport/Fitness […]
4 March 2013 HM Revenue & Customs are set to send out 850,000 letters to taxpayers informing them that they are liable for a £100 fine for not filing their tax returns by the deadline of 31 January. The £100 penalty applies even if there is no tax due to be paid. It is […]
