recent blog posts

By setting up your limited company and transferring your business early in the tax year rather than at the end you could achieve a 10% tax rate

As an owner manager of a company, taking income from it in the most tax and NI efficient way is probably top of your list but are dividends the best option and when might benefits in kind trump them?

For 2023/24 and later tax years the self assessment income threshold at which HMRC will require you to complete a return is £150,000 per year instead of £100,000. At a time when those in the income bracket of £100,000 to £150,000 are more likely to have tax issues due to changing thresholds, this change seems to be misjudged, and not one that was called for.

Have you paid too much tax? DID YOU KNOW? As a director or employee, you’re entitled to a tax deduction for the cost of expenses and equipment you purchase and use in your work dating back 4 years. Capital expenditure…

We extend our heartfelt sympathy to The Royal Family following the deeply sad news of the death of Her Majesty The Queen.Queen Elizabeth II's incredible 70 year reign saw the world change dramatically but she remained a constant presence in...

Starting a business is tough and getting it off the ground can be a long hard slog!  Whether you are just beginning or have already taken the first steps and want to keep everything on track, we can help lead you…

What are dividends? Dividends are payments made to a company’s shareholder(s) after the deduction of business expenses and corporation tax.  They are an additional way of paying yourself from the profits available in the company. Once your limited company has started…

If you are running a successful business you will be interested in the following: What is my turnover to date? What do people owe me? Am I making a profit? Can I take any dividends from the business and how…

Due to the pandemic, IR35 regulation changes have been deferred to 6 April 2021, originally planned for implementation on 6 April 2020. There will be an update that aligns public and private sector IR35 rules and there is just over…

Digital Linking Deadline Extended One of the requirements of Making Tax Digital for VAT is that businesses must keep their records so that VAT returns can be produced enterely automatically once primary information has been entered into the records. For…

Coronavirus and the Self Employed

As long as you are genuinely in business to earn a profit then you can offset your losses against any current year income, or against past or future profits of the trade itself. There are a couple of restrictions. The…

Marriage allowance lets you transfer £1,250 of your Personal Allowance to your husband, wife or civil partner. This can reduce their tax by up to £250 every tax year (6 April to 5 April the next year). To benefit as…

If you buy a new home whilst still owning one or more, a higher stamp duty will apply. This was introduced to target buy to let investors and not innocent buyers who wished to, for example, make cosmetic changes before…