What is the best way of taking money out of my business?
This article will explain the optimal salary for a personal and family company and how to use dividends to ensure tax efficiency.
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tax
Domestic Reverse Charge – say what now?
In March 2021, the VAT position changed as far as certain construction services are concerned with the introduction of Domestic Reverse Charge (DRC). So what led to this momentous change?
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Making Tax Digital – unraveled!
If you are not yet filing your VAT returns under Making Tax Digital or are self employed or a landlord then you may be affected over the next couple of years.
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The advantages of having your tax return filed early
While the new tax year may have only just begun, did you know you can file your self-assessment tax return any time after 6th April 2021?
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Are we heading for an economic cliff?
How prepared are you for when the COVID-19 related financial support and other interim measures fall away?
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Give yourself a financial MOT
Money makes the world go round, or so they say. It’s certainly important and whether you like it or not, its something you can’t avoid. Some people bury their head in the sand at the thought of dealing with their personal and family finances, but ignore it at your peril.
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Tax planning in its simplest form
Nearly everyone who has their business up and running will want to make sure they’re claiming expenses to reduce their tax bill. However, there are a number of rules that need to be followed.
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Top tips for preparing your own tax return
As a business owner, a Self Assessment Tax Return is something that you will be required to complete each tax year to declare your income (and pay over any tax owed) to HMRC. Many individuals and business owners prepare and submit their own tax returns directly to HMRC.
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What superpower would you have if you could?
Invisibility? Being able to fly? Teleportation?
Or how about being able to re-write the law to suit yourself and ensure you are always on the right side?
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Navigating with clarity for business growth
Business owners who have the foresight to turn to seasoned professionals for advice, support, and help are the ones most likely to enjoy continuing success. And the kind of professional who can help bring some assurance to their growth is their accountant.
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Struggling to pay tax – what should you do?
The January self-assessment payment deadline is not well timed… when people may be already struggling to pay their Christmas bills. However unpalatable the 31 January tax deadline is, it is not one that should be ignored.
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The low down on tax and electric vehicles
By 2030 new fossil fuel cars will cease to be sold in the UK. Before then, the Treasury is incentivising business drivers to go electric by offering some key tax benefits.
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Are you tax aware?
The Government introduced various schemes that have supported some businesses and individuals through the COVID 19 pandemic. The big question on many people’s minds has been “How will this be paid back?”.
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How can an Enterprise Management Incentive scheme benefit my business?
An Enterprise Management Incentive, or EMI, is a government‑backed, tax-advantageous employee share scheme. An EMI scheme offers significant tax incentives for employers and employees.
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Changes to National Insurance (NI)
Most employees will now notice that their net pay has decreased this current tax year as the government raises national insurance to help the NHS recover from the Covid pandemic and fund social care in England.
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