Tax - Champion Accountants

Managing your property portfolio: when less is more

On April 2, 2024 / Tax

Long considered a safe bet for financial stability, a sound investment choice, and a reliable source of income, the challenges of building and managing a property portfolio have grown considerably in recent years. In the not-too-distant past, more was considered to be better, and a bigger property

HMRC checks in with Airbnb hosts

On November 28, 2023 / Tax, Business Advisory

In recent months, Airbnb has handed over data regarding user activity to HMRC, who, in turn, has begun contacting Airbnb hosts, requesting they file any undeclared earnings from the home-sharing site. Some reports assert that 19,000 Airbnb hosts have received letters from HMRC, alerting them that the

Autumn Statement 2023 – Champion’s Reaction

On November 22, 2023 / Tax, Business Advisory

Today, chancellor Jeremy Hunt outlined his Autumn Statement and key decisions affecting the nation’s finances. Despite the Office for Budget Responsibility (OBR) downgrading UK economic growth forecasts for 2024 (1.8% down to 0.7%) and 2025 (2.5% down to 1.4%), Mr Hunt promised that his 110 measures announced

Budget 2023: Our Reaction

On March 15, 2023 / Tax, Business Advisory

Today’s Spring Budget speech was a rowdy affair, with similar vein as any we’ve seen since they were first televised in 1990 when John Major delivered his speech to the Commons. Fast forward to 2023, and chancellor Jeremy Hunt delivered his and the PM’s ‘Budget for Growth’.

Are your crypto assets tax compliant? Declare all wins and losses on your self-assessment

On January 31, 2023 / Tax

Did you know that cryptocurrency gains and losses must be declared to HMRC? Just like any other asset, crypto and non-fungible tokens (NFTs) are subject to Income Tax and Capital Gains Tax. In fact, due to the lack of awareness of crypto and tax compliance and the

Champion Round-Up | 31st January

On January 31, 2023 / Tax

Champion Round-Up | By Ged Cosgrove, group managing partner We’ve entered a new year with a renewed sense of determination, and our teams are primed and ready with a toolbox of expertise, strategy, analysis and speed to support clients through a period that promises to test us.

Chancellor’s Autumn Statement 2022 – Champion’s reaction

On November 17, 2022 / Business Advisory, Tax

It was a bright and early start for our new chancellor, Jeremy Hunt, as he promptly kicked off his Autumn Statement speech to the Commons at 11:30am. His hour-long statement covered plenty of ground, and as the old adage goes – the devil is in the detail

Government U-turn on ‘Mini’ Budget – what you need to know

On October 18, 2022 / Business Advisory, Tax

Just hours after his appointment, chancellor Jeremy Hunt announced on Friday afternoon that the government’s planned freeze on Corporation Tax was being reversed and that it would increase – as originally legislated – to 25% from April 2023. Then at 11:15am yesterday (17th October), having been in

Government U-turn on Corporation Tax cut – what you need to know

On October 14, 2022 / Business Advisory, Tax

Notwithstanding any further announcements from Downing Street over the coming weekend, prime minister, Liz Truss, has this afternoon announced the reversal of a key policy to freeze Corporation Tax. During a short press briefing, the PM reversed the government’s plans to freeze Corporation Tax at 19%, meaning