Free guides, news, and expert advice to help you get the most out of your business.
MTD for VAT to launch April 2019
The introduction of MTD (Making Tax Digital) for VAT will affect businesses with a turnover above the current VAT threshold of £85,000. These businesses will be required to keep digital records and provide regular digital updates to HMRC for VAT purposes using MTD for VAT. There will be some additional preparation time for a small number […]
Who should submit a Self-Assessment ?
There are a number of reasons why a taxpayer should complete a Self Assessment return. This includes, if they are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or property. Taxpayers that need to complete a Self Assessment return for the first time, should inform HMRC […]
Director loans – tax implications
Lending money to your company If you lend money to your company, the tax effects are as follows: – Your company will not pay corporation tax on the money you lend it. – If your company pays you interest on the loan, it will need to deduct income tax at 20% from the interest it […]
Keeping up with Payroll & Auto- Enrolment
Staying on top of payroll can be a huge task for all businesses of different sizes – which is why we advise you seek specialist advice to ensure everything is correct and running smoothly. Tax & National Insurance Contributions legislation are always changing, as are the National Living Wage (NLW) and auto-enrolment pensions contributions. These […]
Dates To Remember April – June 2018
2018/2019 financial year starts 7 April 2018 Deadline for VAT returns and payments of Accounting Quarter period ending 28 February 2018 14 April 2018 Income tax due date for CT61 period to 31 March 2018 17 April 2018 March inflation figures released The inflation figures from March 2018 will be released today. This will be […]
Time for a New Accountant
It can be difficult to know what you expect from your accountant. This makes it hard to decide if it’s time to look for a new accountant Do you get on with your accountant? Although this may seem irrelevant, it’s essential. Feeling at ease with your accountant is important. You should feel that you can […]
5 Simple and Legitimate Ways to Make Tax Savings
Everyone has to pay tax on earnings and assets. But how do you make tax savings? When inflation rises or National Insurance contributions go up, so does your tax bill. Here’s the good news: if you abide by the rules but take time to do some financial forward planning, you can stop those bills getting completely out of control. Here are 10 ways you can make tax savings without upsetting the taxman, and legitimately not pay any more than you’re actually required to.