Michael Morter

Tax Advisor based in Norwich, East Anglia. Follow for news and commentary on UK tax. All views expressed are my own.

[Price Bailey @Price_Bailey]

𝗞𝗲𝘆 𝗳𝗶𝗻𝗱𝗶𝗻𝗴𝘀 𝗳𝗿𝗼𝗺 𝗛𝗠𝗥𝗖’𝘀 𝗹𝗮𝘁𝗲𝘀𝘁 𝗥&𝗗 ����𝘁𝗮𝘁𝗶𝘀𝘁𝗶𝗰𝘀 👇

The latest data (2022-2023) from HMRC provides a revealing look into the landscape of UK Research and Development (R&D), shedding light on the number and total amount of R&D tax relief claimed across various sectors and regions.

Read more and hear from Gemma Thake, a Partner in our Tax team: https://t.co/KuCEwgtJPC

#R&D #ResearchandDevelopment #HMRC

[Price Bailey @Price_Bailey]

🥳 𝗣𝗿𝗶𝗰𝗲 𝗕𝗮𝗶𝗹𝗲𝘆 𝗮𝗰𝗵𝗶𝗲𝘃𝗲𝘀 𝘁𝗼𝗽 𝗿𝗮𝗻𝗸𝗶𝗻𝗴𝘀 𝗶𝗻 𝗕𝗲𝘀𝘁 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝘀𝘂𝗿𝘃𝗲𝘆 𝗶𝗻 2024

Price Bailey, a leading accountancy and business advisory firm, has announced its results from the Best Companies survey in 2024, securing top rankings across national, regional, and sector categories. This achievement follows the firm’s earlier recognition of a 2-Star accreditation, reconfirming the firm’s status as an ‘Outstanding Company to Work For’ for the second consecutive year.

𝗟𝗶𝘀𝘁𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗕𝗲𝘀𝘁 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗰𝗮𝘁𝗲𝗴𝗼𝗿𝗶𝗲𝘀 𝗳𝗼𝗿 2024:
✦ Top 5 Best Companies to Work For in the Accountancy Sector
✦ Top 75  Best Companies to Work For Nationally
✦ Top 25 Large Best Companies to Work For in London
✦ Top 50 Best Companies to Work For in East of England

Read more here: https://t.co/XD7lZ2tSpN

#BestCompanies #TeamPB #Ourpeople

[Price Bailey @Price_Bailey]

𝗛𝗼𝘄 𝗮𝗿𝗲 𝗹𝗲𝗴𝗶𝘀𝗹𝗮𝘁𝗶𝘃𝗲 𝗮𝗻𝗱 𝘁𝗮𝘅 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀 𝗿𝗲���𝗵𝗮𝗽𝗶𝗻𝗴 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲𝘀?

Recent tax and legislative developments may lead landlords to question whether it's prudent to continue renting out properties given current market conditions, or if selling is perhaps a more suitable option.

In this article, we reflect on the different ways landlords can hold property, their corresponding tax and compliance implications and the challenges the current rental market is facing: https://t.co/9AHpVOUhs6

#Property #Autumnbudget #Budget24

[Price Bailey @Price_Bailey]

Gary Frear, a Partner and Head of Agriculture shares his thoughts on the reform of agricultural property relief from April 2026 announced in the Autumn Budget and its impact on bloodstock.

"With land selling at auction for £18,000 per acre earlier this year and most studs having a number of residential properties, it will mean a reasonable sized stud becomes taxable for the first time."

Let us know your thoughts below 👇

#APR #bloodstock #Autumnbudget #Budget24

[Price Bailey @Price_Bailey]

𝗙𝗿𝗲𝗾𝘂𝗲𝗻𝘁𝗹𝘆 𝗮𝘀𝗸𝗲𝗱 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗮𝗯𝗼𝘂𝘁 𝗜𝗻𝗵𝗲𝗿𝗶𝘁𝗮𝗻𝗰𝗲 𝗧𝗮𝘅 (𝗜𝗛𝗧)
Autumn Budget 2024 IHT update 👇

The Autumn Budget 2024 was heard on 30 October and proposed a number of significant changes to Inheritance Tax (IHT) over the following three years.

Our updated IHT guide will help you understand the complex world of Inheritance Tax and avoid the common pitfalls: https://t.co/zhfw3pqZnl

#Inheritance Tax #Autumnbudget #Budget24

[Price Bailey @Price_Bailey]

��𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 (𝐍𝐈) 𝐜𝐡𝐚𝐧𝐠𝐞𝐬 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐭𝐡𝐞 𝐀𝐮𝐭𝐮𝐦𝐧 𝐁𝐮𝐝𝐠𝐞𝐭 2024

During the Autumn Budget, The Chancellor announced the rate of employers’ national insurance contributions (NIC) that businesses pay will increase by 1.2%, from 13.8% to 15%, from April 2025. The earnings threshold when employers start paying NIC will also be lowered from £9,100 per year to £5,000 (fixed until April 2028).

The Chancellor stated during the Autumn Budget that these changes should raise £25 billion per year.

Find out more in our article: https://t.co/W6wKLDlPNI

#NationalInsurance #Autumnbudget #Budget24

[Price Bailey @Price_Bailey]

Andrew Park, Tax Partner at Price Bailey, has raised concerns over the increase in interest on late tax payments announced in yesterday's Budget. HMRC will rake in an additional £200 million per year by hiking interest payments on late tax. The amount of interest charged on unpaid tax liabilities will increase by 1.5 percentage points to Bank Rate plus 4 percentage points.

You can read the full article in the IFA Magazine.

#Tax #HMRC #Budget

[Price Bailey @Price_Bailey]

Happy Diwali to all our clients and followers who are celebrating the festival of lights.

[HM Treasury @hmtreasury]

Every child should have access to a high-quality education.

From 1 Jan 2025, VAT will apply to all education, training and boarding services provided by private schools.

This money will help us to invest more in state education, improving standards and opportunities for all.

[HM Treasury @hmtreasury]

Those that make the UK their home should pay their taxes here.

That is why we are removing domicile status from the tax system from 6 April 2025 & creating a simpler residence based regime, designed to bring the best talent & investment to the UK.

[HM Treasury @hmtreasury]

Tax funds public services used by millions.

To help close the tax gap, @HMRCgovuk will hire 5,000 extra compliance officers, update their IT systems and enhance their app, improving the user experience for millions of taxpayers.

[UK House of Commons @HouseofCommons]

Today from 12.30pm the Chancellor of the Exchequer @RachelReevesMP will deliver the Budget Statement.

🔴 Watch live with #BSL interpretation on @UKParliament X ↓

#Budget2024

[Price Bailey @Price_Bailey]

𝐌𝐢𝐱𝐞𝐝 𝐯𝐢𝐞𝐰𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐌𝐢𝐧𝐢𝐦𝐮𝐦 𝐖𝐚𝐠𝐞

In April 2024, the NMW increased to £11.44 per hour, a rise of nearly 10% on the previous year. Further increases are also expected as part of the Government’s New Deal for Working People, which aims to ensure that the NMW is a wage that people can genuinely live on.

Finance Directors expect the impact of the NMW rise to vary drastically by geography. 👇

Read more in our full report: https://t.co/0FhMyo3xNJ

Keep an eye out for our insights and upcoming social media posts about the 2024 Autumn Budget. 👀

#NationalMinimumWage #budget24

[Price Bailey @Price_Bailey]

𝐖𝐡𝐲 𝐢𝐬 𝐢𝐭 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐭𝐨 𝐩𝐫𝐢𝐨𝐫𝐢𝐭𝐢𝐬𝐞 𝐦𝐞𝐧𝐭𝐚𝐥 𝐡𝐞𝐚𝐥𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐰𝐨𝐫𝐤𝐩𝐥𝐚𝐜𝐞 ❓

Today is World Mental Health Day and the theme for this year is prioritising mental health in the workplace. Parry Jackson, a Partner in our Business team, discusses the importance of prioritising mental health in the workplace and shares what he does to look after his own mental health.

Parry is a Wellbeing and Mental Health Ambassador at Price Bailey along with 23 other trained ambassadors. Every ambassador has been trained so they are equipped to provide support to anyone who may need help with wellbeing, including mental health.

#WorldMentalHealthDay #ourpeople #TeamPB

[Norwich City FC @NorwichCityFC]

One person dies by suicide every 90 minutes, but it doesn’t have to be this way.

At your lowest point it won’t feel like it, but everyone has a support team.

Reach out. #YouAreNotAlone.

#WorldMentalHealthDay

[Price Bailey @Price_Bailey]

𝐀 𝐝𝐞𝐦𝐞𝐫𝐠𝐞𝐫 𝐨𝐯𝐞𝐫𝐯𝐢𝐞𝐰: 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬, 𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬 𝐚𝐧𝐝 𝐜𝐨𝐦𝐩𝐥𝐞𝐱𝐢𝐭𝐢𝐞𝐬 🏢

In this article, we discuss the various types of demergers, how they work, why you should consider demerging, their complexities and tax considerations.

Discover why your company should consider demerging: https://t.co/dyGnnpM9iA

#demerger #tax #benefits #complexities

[Price Bailey @Price_Bailey]

Suicide Prevention - Help Available from @Samaritans 💚

10 September 2024 is World Suicide Prevention Day – Price Bailey���s charity partner, Samaritans, is a charity that aims to reduce the incidence of suicide by encouraging people to talk about their thoughts and feelings.

This article outlines ways you can recognise the signs and how you can help create hope through action: https://t.co/cPmHWrOxJe

#WSPD #Samaritans

[Price Bailey @Price_Bailey]

On Tuesday Price Bailey, @birkettsllp and Roche Chartered Surveyors came together to help The Benjamin Foundation freshen up the Town Tots and Kidzone Nursery in Norfolk. -@CharityTBF

The team had great fun working on making the garden more accessible while offering their help with the fencing and giving it a fresh layer of paint.🎨 🖌

The Benjamin Foundation focuses on tackling youth homelessness, providing Early Years education, youth and family support across East Anglia.

#fundraising #charity #community #TeamPB

[Price Bailey @Price_Bailey]

Are you unsure how to manage your Restricted Stock Units (RSUs)❓

Learn how they work, how they are taxed, and discover strategies for managing them effectively: https://t.co/fqMqWyUJY0

#RSUs #RestrictedStockUnits