2021-06-02 08:56
If you are a locum GP, you do remember the last time you were scrambling to get your paperwork together to file the dreaded Self Assessment tax return on time. As a locum GP, the frantic mo… Read More
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A Limited Company Or Limited Liability Partnership: What Type Of Company Is Better? Blog
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Both types of legal business entity, Limited Liability Partnership (LLP) or Limited Company will protect the personal assets of either the partners (LLP) or owner(s) (Limited Company). While protection from business debt and liability are important, the differences in the tax liability are definitely worth considering.
2021-05-05 07:21
Freelancers are self-employed workers who work on free schedules, most often working for several clients at one time. As a freelancer, you might find it easy to get opportunities to work, b… Read More
2021-04-03 10:12
CIS – Construction Industry Scheme is a tax collection system whereby main contractors, and other organizations undertaking a significant amount of construction work, must deduc… Read More
2021-03-07 10:27
Traders must register for VAT (Value Added Tax) with HMRC, if their VAT taxable income is greater than £85,000. The business receives a VAT registration certificate when they register… Read More
2021-02-04 13:49
As per the Office for Tax Simplification’s new report, the rates of the current Capital Gains Tax are quite complicated and must be aligned with the income tax rates. But what implica… Read More
2021-01-04 09:40
One of the biggest reasons why businesses fail today is poor cash flow management. “Cash is king” is a popular adage that holds a lot of truth even today. Cash is the backbone o… Read More
2020-12-05 08:32
Now that 2020 is almost over, it is time to update your income tax filing knowledge. If you are a car dealer, you might have to pay less tax, simply by getting the right information ahead o… Read More
2020-11-02 10:38
If you are self-employed and an owner of a small business, you must congratulate yourself first for diving into this exciting adventure. It can be a great leap forward as a professional. Ho… Read More
2020-10-01 08:42
The COVID-19 crisis has made it challenging for most companies and businesses to operate today. Businesses have slowed down substantially due to the pandemic, resulting in a loss of revenue… Read More
2020-09-04 08:26
The Eat Out to Help Out Scheme Ended. Has your business made a claim? The last day for filing is 30th September
The ‘Eat Out to Help Out’ scheme has been designed to incentivise… Read More
2020-08-03 08:54
The new fiscal year has begun and now is the best time to learn about all the tax changes to maximise your tax efficiency and prepare your business for the 2020-2021 tax year. In addition t… Read More
2020-07-05 09:02
Cash flow can be defined as the process through which money flows in your business and out of it through income as well as expenditure. If you wish to keep your business afloat, the simple… Read More
2020-06-15 08:27
Coronavirus has shut down the entire world and has been declared as a pandemic. More than half the world’s population is under lockdown. The US and European nations such as Spain, Ita… Read More
2020-06-01 09:23
According to the new norms, non-resident corporate landlords will only be required to file an income tax return of SA700 for the tax year 2019/20 by 31st January 2021. After that, they will… Read More
2020-05-01 09:42
Since April 2019, new rules have been incorporated in the UK regarding CGT or Capital Gains Tax. These new rules have been intentionally incorporated and implemented in order to eliminate t… Read More
2020-04-20 09:14
A PSC or Personal Service Company refers to a limited company that has been set up to offer the services provided by a single contractor. This person is the sole company director and shareh… Read More
2020-04-04 11:03
Land and Property can take many forms and sizes, a diversity of owners and uses. HMRC assesses taxes annually on income from property, and on the increase in value at sale. Hence there are… Read More
2020-03-25 09:08
VAT Deferral – Small Business, Contractor, Sole Trader
All UK business registered for VAT can defer VAT payments due between 20th March 2020 and 30th June 2020 until the end of tax ye… Read More
2020-03-18 10:18
Annual Tax on Enveloped Dwellings:
ATED (annual tax on enveloped dwellings) affects any company which holds residential property. It also impacts some other entities, such as partnerships w… Read More
2020-03-02 11:55
All legal instruments in the United Kingdom are charged with stamp duty. Previously, all these documents needed an actual stamp impression on them or an attachment of the same. In the curre… Read More
2020-02-10 07:59
Her Majesty’s Revenue and Customs (HMRC) has been making major changes to the rules related to the declaration and payment of the Capital Gains Tax (CGT). The new changes are to affec… Read More
2020-01-17 09:37
Self-employment in the UK refers to the act of working for yourself instead of somebody else. Being self-employed implies that finding work for yourself is your responsibility alone, and yo… Read More
2020-01-01 11:50
IR35 basically refers to two different sets of tax legislation. They have been designed to combat any kind of tax avoidance by employees or workers as well as the firms hiring them. This an… Read More
2019-12-11 09:30
In this article, we address a number of questions such as if it is possible to transfer any property into a trust and if you can avoid capital gains tax by doing so. So, without further ado… Read More
2019-11-20 09:31
Escape from the daily rush-hour commuting and office politics, Flexi work hours, comfy clothes, work from home is a dream come true but, did you know it does cost you a lot?
The perks of wo… Read More
2019-11-08 08:31
There was a time when raising money for businesses was a tough task, and people did not have knowledge as to how to go about raising money to start/continue their businesses. The process of… Read More
2019-10-14 08:11
The company you want to work for has noticed you and is willing to hire you. A date has already been set to formalise the relationship between you and the company and you really want to sta… Read More
2019-09-05 08:34
The Structures and Buildings Allowance or the SBA was announced in 2018. The SBA mainly aims to relieve all the costs of the physical construction of new buildings and non-residential struc… Read More
2019-08-20 10:16
Bookkeeping and accounting can be a headache in any business. Irrespective of the type of business you are in, these two are critical aspects of not just maintaining a company but also seei… Read More
2019-08-02 08:35
Business insurance is a crucial aspect of building any startup. Depending on the type of business you own, it is vital to have business insurance in your possession to ensure that your comp… Read More
2019-07-18 10:11
What Is the Enterprise Investment Scheme (EIS)?
The Enterprise Investment Scheme (EIS) is a provision that has been introduced by the UK government. It offers individuals the opportunity to… Read More
2019-07-04 07:43
Does the entrepreneur dream attract you to start something of your own? Do you wish to build a startup in the UK and kickstart your own business but are not really sure how to get started?… Read More
2019-06-05 09:59
A specialist property accountant is the need of the hour whenever it comes to handling your property taxes. When it comes to this industry, there are simply too many things to know and cons… Read More
2019-05-27 09:59
Like every April, this one as well brought a new taxation year in the United Kingdom. This year’s tax announcements bring much good news for contractors. Primarily, there is an increa… Read More
2019-05-10 07:58
The art of recruitment has both positives as well as negatives for employers. When starting a business or thinking about expanding one by hiring new and competent employers, the skill of re… Read More
2019-04-08 06:33
It is self-evident how important a role an accountant plays in the daily and effective running of a business. A good accountant not only helps with your savings but also ensures that you an… Read More
2019-03-11 05:48
Budget 2018 was introduced as a budget for Britain’s future. In the budget, the Chancellor did recognise that the Brexit negotiations with the EU were at a crucial moment. He introduc… Read More
2019-02-04 07:03
Have you ever imagined what it would be like to make your own hours, decide on your own deadlines and be your own boss? Must be a liberating feeling for those who actually do it, right? Wha… Read More
2019-01-15 12:48
Chances are if you are a grown up, you already are aware about tax returns. What you might not know is if you have to file a self-assessment, or the process of filing the tax returns, or ho… Read More
2019-01-09 12:24
It is but natural to have plenty of questions flooding your mind upon hearing the word taxes; it is for any self-employed person. The key is to unfold the answer to the important questions… Read More
2019-01-01 10:26
It is that time of the year again when you have to prepare yourself for the Self Assessment Tax Return. If you are a self-employed person, you should be aware of everything related to &lsqu&helli…Read More
2018-12-03 11:58
Businesses registering as limited companies through the Companies House are often confronted with questions about company shares and their assigned value. These questions can be very confus… Read More
2018-11-01 11:40
Salary sacrifice scheme offers benefits for employers and employees alike, in the right circumstances. Employees can make substantial savings and earn benefits by opting for the salary sacr… Read More
2018-10-10 07:46
Interpretation of the IHT can sometimes become confusing with atypical situations. It is important to note that such situations or circumstances have a probability of occurring. The law of… Read More
2018-09-05 07:24
Dividends are a great option to pay yourself a portion of the prophets without attracting tax exposure. However, contractors in limited companies who wish to release dividends themselves ne… Read More
2018-08-10 10:54
Landlords of unincorporated properties can make use of the simplified accounting process to calculate taxable profits. This will not only take the tax returns process into the digital age… Read More
2018-07-02 08:40
Most contractors who receive correspondence from the HMRC, are unaware of the chain of events that are likely to follow and are ill prepared to tackle the issues. This can lead to a situati… Read More
2018-06-05 06:54
September 30 2018 will not be just another day for taxpayers with undeclared offshore tax liabilities. Regardless of residential status, all UK resident, non-UK resident trustees or non-res… Read More
2018-05-01 07:00
Couples, civil partners and co-habitees jointly owning properties that are given out on rent can save considerably when it comes to the tax component. This can be achieved legally as permit… Read More
2018-04-03 07:22
As the government brings in changes on the rental property business landscape, landlords will now have to fork out more in terms of tax. Interest on borrowings will henceforth be relieved a… Read More
2018-03-13 09:16
As the countdown of UK’s exit from the EU moves into the final stages, businesses need to be fully prepared for a transition. The scope of the UK’s disengagement are similar, al… Read More
2018-02-28 07:19
Earning income from, and the near-certain appreciation of property investments are two benefits that make being a BTL landlord an attractive proposition. But there are risks with owning inv… Read More
2018-02-02 11:41
There’s a difference between liquidation and insolvency. In the UK both denote formal procedures for businesses when they experience financial issues. Liquidation means to shut down t… Read More
2017-12-12 13:43
It’s that time of year again: the seasonal office party in December or for New Year in January raises morale or maybe you’re planning another for later in the year. Whenever in… Read More
2017-12-07 09:12
You’ve let out a house for years, but your total income has always been less than your tax allowance so you haven’t declared it to HMRC. Will you need to reconsider in view of t… Read More
2017-12-02 07:18
Are you a contractor or freelancer who isn’t sure how to answer the question as to whether or not you get what you pay for from your contractor accountant? Can you be sure that you re… Read More
2017-11-20 09:26
There are some differences between what is allowable as an expense for tax purposes for a sole trader and what’s allowable for a limited company. Whichever business structure is opera… Read More
2017-11-09 11:21
Managing the cash flow of a small business can be extremely stressful when you’re trying to run a business as well. The work is one of maintaining balance, between keeping money comin… Read More
2017-11-09 11:21
Managing the cash flow of a small business can be extremely stressful when you’re trying to run a business as well. The work is one of maintaining balance, between keeping money comin… Read More
2017-10-03 06:37
Let’s assume that the small business we’re focusing on here is a limited company in the UK. Even freelancers, contractors and small business owners that operate as sole traders… Read More
2017-08-19 08:38
As the chancellor announced in March 2017, as of 1 August 2017, UK VAT will be added to roaming phone charges for calls made outside the European Union (including the Australia, China, Indi… Read More
2017-07-24 09:57
If you are a contractor or freelancer, at some stage in your contracting journey you must have heard the term ‘umbrella’. For those new to contracting you essentially have 3 cho… Read More
2017-06-30 06:15
The “option to tax” is just that: a business has the choice of whether to charge VAT on the sale, lease, or rental of a building or a piece of land and to claim back the VAT cos… Read More
2017-05-26 13:17
Yes definitely you can be employed and self-employed at the same time, it just means some of your income is taxed at source through PAYE and some will need to be declared on a Self Assessme… Read More
2017-04-26 07:00
As a sole trader, you don’t have to run a separate business bank account, but it’s probably a very good idea to do so. Transacting paid invoices through a personal bank account… Read More
2017-03-20 06:52
Both types of legal business entity, Limited Liability Partnership (LLP) or Limited Company will protect the personal assets of either the partners (LLP) or owner(s) (Limited Company). Whil… Read More
2017-02-13 08:25
It is quite straightforward to strike off a company from the public register in the UK and it doesn’t matter if it’s been going for a few days, weeks, months, or years, but you… Read More
2017-01-24 09:17
According to Jay Rayner the Seattle-based Starbucks coffee group, which first appeared on the King’s Road, Chelsea, in September 1998, “made real coffee a thing” in the UK… Read More
2016-11-04 09:55
There are many reasons why all sectors of the property industry ‒ including developers, housing associations, letting agents, surveyors, architects, and all the associated trades, and… Read More
2016-10-18 11:32
Speed and pace of technological changes are so significant and enormous that it’s started touching our lives even when we are sleeping. There was recent article in times where it says… Read More
2016-10-06 14:51
Britain as a country has witnessed a lot of ups and downs in recent past. Brexit has placed Britain under the limelight and citizens are expecting some rebates in taxation from the governme… Read More
2016-09-21 05:26
Letting out a room through Airbnb will bag you £1,000 tax free from April 2017. For anyone who is eligible this can be added to the £7,500 tax-free bonus under the Rent a Room s… Read More
2016-09-16 06:12
Statistics show that small business owners are more at risk of a cyber attack than their big business counterparts. We look at three top tips to prevent your small business becoming another… Read More
2016-08-25 08:21
You can buy property through a newly incorporated or an existing company, but it is important to take expert advice before doing so and to ask the question, is it tax efficient?
If consider… Read More
2016-08-05 11:35
Nobody wants to get on the wrong side of the taxman. Like Icarus, when he flew too close to the sun, it’s not a pleasant place to be. We show you how to keep your financial house in o… Read More
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