More recent posts
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Autumn Statement – November 2015 – Summary of tax points
The Chancellor delivered this 2015 Autumn Statement on 25 November. Only a handful of tax measures made it into the speech presented to parliament; additional measures were laid…
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Growth Fund Voucher Programme
On 27 January 2014 the Government’s new Growth Fund voucher programme commenced. The programme aims to help small businesses finance specialist business support. Please click here to read…
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Employment Allowance
From 6 April 2014 UK employers may claim a £2,000 Employment Allowance to offset against their Employers National Insurance contributions (“NIC’s”) liability. Please click here to read our…
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Autumn Statement 2013 – Summary of main tax points
5 December 2013 The Chancellor delivered his 2013 Autumn Statement today. We have summarised some of the tax highlights below. Businesses There was very little in the way of…
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Raising Investment – Tax Efficiently
It remains difficult in current economic conditions for many SMEs and start-ups to raise money from traditional sources. Many are therefore seeking alternative methods of raising capital, including…
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End of year tax planning opportunities
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…
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Congratulations to New Star Games
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…
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CIOT concerns over proposals for cash accounting
The Chartered Institute of Taxation (“CIOT”) has expressed concerns over the complexity of the proposed new cash accounting basis for small businesses. The new cash accounting basis is…
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Criticism of RTI penalty scheme
The Chartered Institute of Taxation (“CIOT”) is lobbying the government to review the penalty regime for the new payroll reporting system, Real Time Information (“RTI”), suggesting that penalties…