News & insights

Autumn Statement 2022: Changes to the R&D tax relief scheme

On November 18, 2022 / R&D Tax Relief

One of the key announcements from the Autumn Statement was Jeremy Hunt’s cutbacks to the R&D tax relief scheme for small and medium-sized enterprises (SMEs). Despite the chancellor reaffirming the Government’s commitment to R&D, this announcement didn’t come as a surprise, given recent reports of R&D abuse

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

Raft of new accounting talent joins Champion

On November 8, 2022 / Team News

A host of new accounting talent from across the North West has joined Champion Group, benefitting from a dedicated trainee programme designed to ensure their careers and professional confidence flourish. After a recruitment drive that saw dozens of applications from youngsters finishing their A Levels or equivalent

Champion Round-Up | 27th October

On October 27, 2022 / Business Advisory

Written by Ged Cosgrove, group managing partner As each new day emerges, there is breaking news that has the potential to impact all our lives in both a professional and personal capacity. Of late, we’ve heard musings of a recession, there have been fluctuations to interest and

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

On October 18, 2022 / Tax, Business Advisory

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

Emergency ‘Mini’ Budget: Champion’s reaction & key highlights

On September 23, 2022 / Business Advisory

Today’s “mini budget” was anything but; so much so that it should have been billed the “not so mini” budget. The newly appointed chancellor, Kwasi Kwarteng, stood up at 9:30am and announced a host of measures, some of which we were expecting but there were far more

Energy Relief Bill – New package of support for businesses and non domestic clients announced today

On September 21, 2022 / Business Advisory

Earlier today, the government revealed brand new plans to help businesses cope with the energy crisis. From 1st October to 31st March 2023, there will be a cap of 21.1p per kWh applied to electricity, and 7.5p per kWh applied to gas. This is compared to wholesale

Champion Round-Up | 13th September

On September 13, 2022 / Business Advisory

Written by Ged Cosgrove, group managing partner We join our great nation in mourning the sad loss of Her Majesty The Queen. Over her 70-year reign, Queen Elizabeth II has been such a beloved and ubiquitous figure, having navigated all that is ‘great’ about Great Britain and

When does a hobby turn into a business?

On September 12, 2022 / Business Advisory, Tax

There were more than 800,000 new businesses launched in 2021. Many of these will be the brainwaves of people stepping into the world of business for the very first time, as what was once just a hobby has started to generate income. When this happens, it comes