The 2020/21 tax year-end is rapidly approaching.

With April 2021 just around the corner, we thought it might be useful to provide an overview of current tax legislation and to highlight possible measures to help you, your family and your business with your longer term financial planning.

Tax and financial strategies 2020/21 - an overview
Personal tax essentials
Business tax strategies
Tax and employment 
Personal and family financial strategies
Retirement planning strategies
Savings and Investment strategies
Tax efficient estate planning

Planning for the future is complex, so please get in touch with our Tax Team to discuss your personal circumstances and possible options to best achieve your long term goals. We would be delighted to hear from you.

Heads-up on forthcoming changes to R&D tax relief

A cap on R&D tax credits for small or medium sized enterprises (SMEs) will be introduced on 1st April 2021 which will limit credits to £20,000 plus 300% of a company’s total PAYE and National Insurance Contributions liability.

This change will affect companies that claim the SME R&D tax credit in excess of £20,000 and that make extensive use of subcontractors and externally provided workers from related parties. If you think that your company might be affected by these changes, please get in touch with the Corporate Tax Team at DRG Chartered Accountants. Read more

The Patent Box tax relief

The UK Patent Box is a generous, but widely unknown tax relief that enables companies to pay a reduced rate of corporation tax on profits arising from the exploitation of qualifying patented inventions and equivalent forms of intellectual property. Profits subject to the Patent Box are taxed at an effective rate of 10% in contrast to the standard rate of 19%. Read more

Christmas conversations

In the run up to Christmas the Copy Club, a London-based network of marketeers, is hosting five guests who have changed the marketing game. Over the week, starting 14th December, you can listen to:-

• How to make peanut butter into a lifestyle brand,
  With Pippa Murray, founder of Pip and Nut
• How to scale a brand as sexy as allplants,
  With Alex Petrides, founder of allplants
• How to build a true challenger brand
  With Hugh Derrick, brandeatbigfish

To see the full programme and to sign up, please visit The Copy Club Christmas Conversations.