Latest posts
-
Are you prepared for a nudge letter?
HMRC have confirmed they intend to send ‘nudge letters’ to certain taxpayers who hold shares in the year to 5 April 2020. The letters are likely to target…
-
HMRC announce R&D claim delays
HMRC has confirmed that it has halted the payment of some research and development (R&D) tax credits, while it investigates irregularities in claims for the relief. The treasury…
-
The importance of completion mechanisms
An appropriate completion mechanism is almost always needed to determine the final price in a merger and acquisition (M&A) transaction. The majority of transactions will require an adjustment…
-
Does the audit reform go far enough?
The government’s long-awaited response to the consultation to shake up the audit sector outlines their plans to tackle Big Four dominance, ban failing auditors, and bring very large…
Recent posts
-
Private equity and trade sales provide distinct exit options for owners. Which works best?
Every business owner will have their own motivations for selling: these may include de-risking,…
-
‘No fault’ divorce – what are the tax implications?
There has been a significant alteration in divorce laws for England and Wales, with…
-
Recovery Loan Scheme – time’s running out
Businesses affected by the pandemic will need to ensure their Recovery Loan Scheme (RLS)…
-
Magma announce promotions & new additions
Magma Chartered Accountants are pleased to announce several promotions and new additions to the…
-
Five reasons why M&A deals fall through
There’s a myriad of reasons why an M&A deal may fail, but there are…
More recent posts
-
A tax climate suited for employee share ownership?
Amid spiralling living costs, and significant differences between the tax rates on capital gains and income, company share schemes may offer an appealing option both for you and…
-
Plastic Packaging Tax: What you need to know
If you manufacture or import 10 or more tonnes of plastic packaging within a 12 month period, you may need to register for plastic packaging tax. What is…
-
HMRC continues tax campaign on buy-to-let landlords
£17m was collected by HMRC from buy-to-let landlords in the last year, with the Treasury clamping down on the large amount of unpaid tax in the sector. Thousands…
-
Five tips for an M&A negotiation
Whether you’re looking to acquire or sell a business, an M&A negotiation can be a complex and delicate process. Here are some useful tips to consider. Define what…
-
Spring Statement 2022 Summary
Chancellor Rishi Sunak has delivered his Spring Statement against a backdrop of rising fuel, energy and food costs. We’ve summarised the headline announcements below: Income tax is to…
-
Sunak considers overhaul of ‘generous’ R&D tax credit system
Chancellor Rishi Sunak has suggested SME businesses are not investing enough into Research & Development (R&D) tax credits to make the current system viable. The Chancellor is frustrated…
-
HMRC recovering £0 in nearly half of all tax investigations
During the 2020-21 financial year, 47% of investigations by the Treasury resulted in no money being retrieved, rising from 31% the previous year. HMRC investigations resulting in no…
-
Ensure your payroll is watertight
As the UK continues to deal with rising living costs, ensuring the payroll function in your business is accurate, efficient and secure has never been more important. The…
-
Magma advises on acquisition for Mersey Industries
Magma Corporate Finance are pleased to have advised Mersey Industries on their acquisition of Derby-based MCE Engineering, a leading fabrication and precision machining business. Off the back of…