You will be hearing more and more Making Tax Digital (MTD) over the next 6 weeks. MTD is, according to HMRC, “a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs” MTD for VAT means a [...]
Another budget has gone by and yet again it seems to miss out most of the items that were speculated about in the weeks leading up to it. As far as budgets go this is a fairly low impact one for small businesses in our opinion. That said the Budget is a large [...]
Have you noticed that there always seem to be some change happening, something on the horizon to prepare for – auto-enrolment, GDPR and now Making Tax Digital. They say change is inevitable, but it does get a bit tiresome when it’s as relentless as seems to have been the last few years. Anyway, [...]
Tax has a direct effect on behaviour; hence the introduction of sugar tax for soft drinks. Sometimes this behaviour is a little curious. Did you know there used to be a time when your property tax was based on the number of windows you had? So, naturally, people bricked up their windows. Not [...]
Whenever we take on a client we tend to have very similar conversations with them, mainly because many of them have never been given any kind of explanation of how things work and are often left to their own devices to figure stuff out. We make it our mission to help them understand their [...]
Pension Changes If you have an auto-enrolment pension scheme set up and are deducting pensions already then, the amount of pension contributions you will deduct and contribute for and behalf of your employees is changing. The minimum contribution you must make increases from the current minimum of a total contribution of 2% of qualifying earnings [...]
Back in 2015 George Osbourne announced a change to dividends tax rate that effectively increased the tax burden on small business owners. The effects of this were not felt immediately so the change probably passed many by. It is only now that many business owners are receiving their 2016/17 tax returns that the full effect [...]
Once you have dealt with the basics there are very few ways to save Corporation Tax. Tax saving tips are often about being super organised with what you claim and making sure you get the basics correct. With this in mind here are some of the basics you should be looking out for: Claim Business [...]
One thing is for certain, this years Autumn Statement is going to be carefully watched by many interested parties. Arguably, even more so than most budgets because of the unique set of political circumstances we find ourselves in at the moment. The Brexit Vote and The US Presidential Elections effects on our economy and their [...]
If you trade through a limited company and take your income as a mixture of PAYE salary and dividends, then you will probably be worse off after April 2016. This is because of the impending changes to the way dividends are going to be taxed. This change affects dividends you receive after April 2016 and [...]
