As the new tier system kicks in, many businesses are finding themselves facing tough times and some very difficult decisions this Christmas. Over the last six months, you have probably already had to make some hard choices, as your business has seen its work dry up and its income drop off [...]
The UK/EU withdrawal agreement expires at 11pm GMT on 31 December 2020. After that date, the UK will become a separate customs territory from the EU. This means that from 1 January 2021, all imports and exports of goods to, and from, the EU will become subject to customs procedures, both [...]
One of the perpetual fears of many business owners is HMRC. Sometimes this is an irrational fear and sometimes it justified. HMRC have enormous powers that seemingly increase year on year. Tax, Payroll and VAT are getting increasingly complex and its up to you, as a business owner, to get it [...]
One of the first decisions that you will need to make when you start a business… What is the best trading structure for my new business? Which legal entity do I wish to trade through? A legal entity is how HMRC will treat you for Tax purposes and determines what rules [...]
In the not to distant past, accountants used to be someone you interacted with once a year when you dropped off your books and then sat down with to discuss your taxes. At that year end meeting - often several months after your actual year end - you discovered how well, [...]
Companies house have announced that from Monday 9th of November they will no longer sending paper reminders for important deadlines. An example would be dates on when a business owners confirmation statement is due. Companies house are now urging companies to opt for their email reminder service which is free this [...]
In a taxes popularity contest, Inheritance Tax would be in last place! Also known as the Death Tax, Inheritance Tax (IHT) is a tax you pay on the value of your estate after you die. Many people are motivated to minimise IHT to benefit their surviving relatives. After all, you have [...]
Owning and renting out houses has traditionally been a good way to supplement your income. In fact, it had been so popular that the government has tried to put the brakes on by introducing tax measures to make it less attractive. The government want people to increase the number of houses [...]
A Limited Company is arguably the most tax efficient structure to run your business through, but there are hidden tax traps that are easy to fall into. The biggest one is how you get paid from your company. Companies are taxed at 19% on all the profit they make, if you [...]
Increasingly, employers are asking employees to work from home. However, this comes with additional household costs for them. Nevertheless, there is tax relief available. The additional costs your employees can claim for include heating, water bills, business calls or even broadband connection. How much can you claim: Employees can claim a [...]
