Our Blog

Catch up with our latest news & events

 
Tax Diary April/May 2019
27 Mar 2019

Tax Diary April/May 2019

1 April 2019 - Due date for Corporation Tax due for the year ended 30 June 2019.

Tax diary March/April 2019
14 Mar 2019

Tax diary March/April 2019

1 March 2019 - Due date for Corporation Tax due for the year ended 31 May 2018.

Loans to employees
13 Mar 2019

Loans to employees

A reminder that if your business makes a loan to your employees or their relatives this can create tax problems for both employees and employers. And please don’t forget that the term “employee” includes directors, and also that loans to family members may be caught.

Last call for VAT traders to prepare for new filing regulations
05 Mar 2019

Last call for VAT traders to prepare for new filing regulations

As we have mentioned before in this newsletter, VAT returns filed for periods commencing on or after 1 April 2019, may need to be filed using the new Making Tax Digital (MTD) protocols. The new filing obligations will apply to VAT registered businesses with turnover above the current VAT registration limit, £85,000.

Changes to Minimum Wage Rates
27 Feb 2019

Changes to Minimum Wage Rates

From April 2019, minimum pay rates will increase as set out below.

Limitations of tax relief when you sell your home
21 Feb 2019

Limitations of tax relief when you sell your home

It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices.

Spring Statement - 13th March 2019
13 Mar 2019

Spring Statement - 13th March 2019

The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the government uses the Spring Statement to respond to the most recent forecasts made by the Office of Budget Responsibility (OBR).

Three Financial Mistakes Made by Many Businesses
15 Feb 2019

Three Financial Mistakes Made by Many Businesses

Many of our clients tell us that they got into business to make more money, achieve a better lifestyle, or simply because they felt they could do a better job than their old boss. Although many do possess business skills, financial acumen is rarely high among them. In this article, we list three common financial mistakes that we observe frequently.

What can you give away before the end of the tax year?
04 Feb 2019

What can you give away before the end of the tax year?

The end of the tax year 05 April 2019 is fast approaching. Did you know that you can give away £3000 worth of gifts each tax year without them being added to your estate? You can carry forward any unused allowance to the next tax year but the carry forward is limited to one year only.

Making Tax Digital (MTD) is almost upon us, why do you need to take action now if you haven’t already done so?
12 Feb 2019

Making Tax Digital (MTD) is almost upon us, why do you need to take action now if you haven’t already done so?

Over the past 2 years we have been busy moving our clients from desktop bookkeeping software to cloud solutions, usually Quickbooks Online in readiness for MTD.

What are your new year resolutions?
21 Jan 2019

What are your new year resolutions?

New year, new start... what do you want to achieve with your business this year?

It’s time to pay your self assessment tax!
14 Jan 2019

It’s time to pay your self assessment tax!

Don’t forget that you need to pay any tax due under self assessment by 31 January. HMRC sometimes issue reminders but then sometimes don’t so you need to remember to pay otherwise you will be charged interest on late payment.

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