ABG December Round Table – Insightful Tax Strategies & Friendly Networking

On 9th December, the Active Business Group hosted another engaging business discussion, bringing together informed business owners and managers for our usual networking, coupled with great learning. These sessions are at the heart of ABG’s mission – creating a space where knowledge meets opportunity.

Our featured speaker, Wendy Tetley of Achieving Clarity, delivered an enlightening talk on “Tax Changes and Strategies”, guiding our members through the latest updates and practical approaches to navigate them confidently. Wendy’s expertise shed light on key areas affecting businesses today:

Tax Changes for Limited Companies & Landlords
Landlords will soon face a 2% tax increase, quarterly returns, and added administrative tasks. Corporation tax remains at 19% for the first £50,000, rising to 25% thereafter, while dividend tax has increased by 2% for those earning over £50,000.

Employer Strategies & Allowances
Wendy highlighted the benefits of taking higher salaries to leverage the £10,000 employer National Insurance allowance and shared interesting ideas to consider for businesses not currently taking advantage of their full allowances.

Planning Ahead
From timing property sales to maximise capital gains allowances to considering salary sacrifice pension contributions, attendees left with actionable strategies to optimise tax efficiency.

Sustainable Choices
Electric company cars emerged as a smart move for tax savings and environmental impact, offering significant first-year allowances.

The discussion also touched on the rising minimum wage, business rates, and the importance of robust paperwork when dealing with HMRC.

Wendy’s practical insights reassured members that, with informed planning, businesses can adapt and thrive.

As always, the meeting wasn’t just about learning – it was about connecting. ABG continues to provide a welcoming environment where professionals share experiences, exchange ideas, and build lasting relationships.

Thank you to Wendy Tetley of Achieving Clarity for her invaluable contribution and to all attendees for making this session a success.

We are looking forward to Wendy joining our panel on our Visitors’ Day on Tuesday, 3rd March, when our panel will reconvene to discuss the economic crossroads that small businesses are currently experiencing.