Tax Diary July/August 2018
1 July 2018 - Due date for corporation tax due for the year ended 30 September 2017.
Director Minimum Salary Levels 2018-19
Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce National Insurance Contributions (NIC), and in some cases income tax.
Self-Employed Tax Bills
Whether you pay income tax or National Insurance, the effect on your cash flow is the same. The payments are a necessary part of our obligation to fund the activities of State, but the self-employed are often surprised that their bi-annual tax payments cover both “taxes” – NIC and income tax.
Making Tax Digital
A reminder that from April 2019, HMRC’s much vaunted Making Tax Digital (MTD) scheme will apply to certain businesses.
Construction Drawn into VAT Reverse Charge Process
It would seem, that HMRC is keen to plug the apparent drain from VAT receipts when contractors and sub-contractors charge their customers VAT and then go missing, keeping the VAT for themselves. This is described in legislation as “missing trader fraud”.
Succession: Planning for the Lifelong Journey of your Business
Succession planning focuses on having a long-lived plan for your business, yet quite often, this isn't an important discussion until it's too late.
Get What You Want out of Your Business
As business owners, there is an endless stream of things, people, events and information that can overwhelm even the steadiest of leaders.
The Three Categories of Succession Planning
There are many benefits to being a small business owner such as being your own boss, leading a team and the ability to give back to your community.
Tax Diary June/July 2018
Find out more about the most important tax dates for June/July 2018.
What to Do If You Can’t Pay Your Tax
HMRC will consider extended options for settling your outstanding tax bill.
Employees’ Holiday Entitlement
The following definitions should help to clarify employee and employer rights and responsibilities regarding entitlement to holiday pay.
Crackdown on Abuse of UK Businesses
Reforms are being considered that will ensure that Scottish Limited Partnerships continue to be used as a legitimate vehicle for investment in the UK.