Louis Thompsett’s Post

Last week, Rachel Reeves announced her Autumn 2024 Budget addressing the fiscal challenges facing the UK. Among the significant updates is an increase in Capital Gains Tax (CGT) rates, which may shape future investment strategies in the fintech sector. Announced support for financial services investment, regulatory reform and R&D relief was more positive, and hopefully this continues to drive innovation in the industry. We cover a detailed look at the budget announcements impacting the fintech sector in the below article. If you want to discuss the impact the budget may have on your business, please do get in touch. #fintech #AutumnBudget2024 #Finance #Economy #UKBudget #FinancialServices

Following on from our last post, Marco Piacquadio expands on what the influx of new HMRC staff and upgraded digitised systems mean for UK businesses with tax liabilities. This is what businesses need to know to stay ahead - from exploring repayment arrangements to understanding alternative solutions for tax debt. 👇 Click to read the full article https://lnkd.in/eZB6xefa

Budget 2025: Innovation push, tax sops —here's what fintech players expect from FM ...: Budget 2025: From a push for innovation to tax relief for those earning up to ₹15 lakh, fintech players expect an array of announcements from ...

Should a tax break become a tax trap? I think not, but it is interesting to see that UK Finance are proposing the repayment of tax incentives as one way to incentivise the use of the UK public markets. The full report though is worth a read as it also makes positive growth recommendations like: - the extension of EIS/SEIS - a tapered approach to government support - the extension of enterprise management incentives - continuing to explore the tokenisation of securities https://lnkd.in/e_HiFAQK

Several media reports suggest that U.K. Finance Minister Rachel Reeves is planning to hike capital gains tax — a levy on the profit an investor makes from the sale of their investment. Entrepreneurs and investors have warned that the U.K. could face an exodus of technology entrepreneurs as a result of the reported tax changes. Top tech CEOs in the country argue a hike in capital gains tax would make it harder for entrepreneurs to build businesses in the U.K. https://lnkd.in/er2qcMFb

Reassuring message this week from Revenue Commissioners - ‘total flexibility’ for those businesses with warehoused debt when the scheme comes to an end in the next few months. It is reported that around €1.75billion of business taxes remain outstanding since the scheme was set up to deal with the financial fallout of the pandemic. The key takeaway is that current taxes must be paid as they fall due or repayment arrangements will fail. If you need advice or guidance on dealing with outstanding business or personal taxes north or south get in touch. #debtwarehousing #timetopay #options

As we close the year we take a good look at what drives the world of finance. "Debts" and "Taxes" these two are the pinnacles of all business ventures, from small scale entrepreneurs by the roadside to multinational corporations in technical building, it is safe to debits can cause a business to sprout or to shrink. Good debt or rather debt which is well planned for, has for generations cause multinational corporations to experience burbling success, this is due to proper planning and efficient allocation of resources as well as clear cut understanding of debt. From Kiyosaki's Rich Dad Poor Dad he says and I quote 'Good debt males the rich in this case multinational corporations richer and keeps them at the summit of everything' with that said debts alone cannot make businesses to thrive, but it needs incentives from different role players in corporate institutes and clear understanding from small and medium enterprise for them to be able to use it to their advantage. Now what about taxes, well this piece of writing has been written in simple tone so as to be grasped by the majority, let's dive into taxes- taxes do not only act as costs in production processes but can also build businesses and cause them to thrive, wait taxes making businesses thrive! yes they do make them thrive, how?? each and every business needs to stay on the side of the law to be able to grow, you surely wouldn't want your business to be the core of law suits, would you?? Therefore understanding taxes and formation of corporations, will effectively enhance firms grow and operate in conducive environments. To end it all this piece of writing was was on the minor positive impacts of debts and taxes....let's keep up for more. #TheVulture#DebtsAndDebts #ProfessionalGrowth

💷 Capital Gains Tax 💷 What could the changes mean for your business? 🤔 Labour’s lack of commitment to freezing capital gains tax raises important questions for business owners. If rates increase or the £3,000 annual exemption threshold is cut, business owners who rely on selling shares or assets could face a higher tax burden. Entrepreneurs who have built and grown companies may see their exit strategies affected, with a larger slice of their profits going to the taxman when they sell or transfer their businesses. For many business owners, this creates additional pressure to rethink financial planning. Whether it’s seeking ways to mitigate a potential tax hit or delaying plans to sell, this uncertainty can complicate long-term strategies. More than ever, business owners may need to consider exploring alternative financing options, whether through loans, equity funding, or restructuring, to navigate these potential challenges. Furthermore, the broader economic environment - rising interest rates, inflation, and a potential tax hike puts extra strain on businesses, particularly SMEs. Many may be forced to tap into external finance to stay competitive, expand, or simply manage cash flow. Access to affordable financing is likely to become more crucial in the coming years as businesses face the dual pressure of adapting to a changing tax landscape and managing day-to-day operational costs. The combination of a possible capital gains tax increase and economic headwinds could lead to a shift in business financing strategies. Owners may start relying more heavily on debt financing or other types of financial support to manage growth, succession planning, or even survival. Those without a solid financial plan could find themselves squeezed by both tax policy and market conditions. For UK entrepreneurs, it’s becoming increasingly essential to have a well-rounded understanding of both taxes and financing options. Now is the time for business owners to assess their future needs, plan for potential tax changes, and ensure they have the right financial support in place to weather these challenges. Whether it’s exploring innovative funding solutions or seeking professional advice, the decisions made now could be pivotal in the years ahead. We're here to help - if you have any questions feel free to drop us a message or visit our website to explore your options for finance. #CGT #tax #labour #business #finance #businessfinance