Author name: Alun Morgan

Portrait photo of a business woman smiling to camera

Start-up firms frustrated by HMRC’s ‘slowness and lack of communication’

The slowness of the UK’s tax authority HMRC is holding back entrepreneurs, according to a business group.

Buy Women Built (BWB) says its members have been left frustrated when trying to access tax incentive schemes designed to support start-ups.

The group said trying to contact HMRC was “very difficult” and in some cases delays in receiving the tax credits meant firms could not pay bills.
HMRC said “the overwhelming majority” of all valid claims were paid on time.

Start-up firms frustrated by HMRC’s ‘slowness and lack of communication’ Read More »

Portrait photo of a business man smiling to camera

London AI firm with 29-year-old founder achieves billion-dollar valuation after fresh funding round

An AI business founded by a 29-year old London tech entrepreneur is now worth more than $1 billion dollars after a fresh funding round in signs the capital is cementing its status as Europe’s foremost artificial intelligence hub.
ElevenLabs, which uses AI to generate voices use for video dubbing, has hit the unicorn milestone less than two years after its launch following a $80 million Series B funding round led by US venture capital firm Andreessen Horowitz.

London AI firm with 29-year-old founder achieves billion-dollar valuation after fresh funding round Read More »

Bundles of £20 notes

VCTs have ‘record breaking’ year as investors rise by 32%

Government data found 2021-22 was a “record breaking” year for venture capital trusts as investors increased by 32 per cent.
The data showed the number of VCT investors who claimed income tax relief rose to 25,800 in 2021-22.
This covers those that made claims through self-assessment rather than other forms, like PAYE.
HMRC said the increase in investment in the period could show the impacts of the pandemic were lower than expected.

VCTs have ‘record breaking’ year as investors rise by 32% Read More »

Chancellor Micahel Hunt

Chancellor hints at further tax cuts ahead of Budget

Chancellor Jeremy Hunt has indicated further tax cuts could be on the cards, at the World Economic Forum in Davos last week (January 18).
Speaking to a group of journalists in Davos – including the Financial Times – Hunt described lower tax economies like North America and Asian as “more dynamic and more competitive” saying this was the direction he wanted to move in.

Chancellor hints at further tax cuts ahead of Budget Read More »

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