Whenever we take on a client we tend to have very similar conversations with them, mainly because many of them have never been given any kind of explanation of how things work and are often left to their own devices to figure stuff out. We make it our mission to help them understand their [...]
Pension Changes If you have an auto-enrolment pension scheme set up and are deducting pensions already then, the amount of pension contributions you will deduct and contribute for and behalf of your employees is changing. The minimum contribution you must make increases from the current minimum of a total contribution of 2% of qualifying earnings [...]
Back in 2015 George Osbourne announced a change to dividends tax rate that effectively increased the tax burden on small business owners. The effects of this were not felt immediately so the change probably passed many by. It is only now that many business owners are receiving their 2016/17 tax returns that the full effect [...]
Once you have dealt with the basics there are very few ways to save Corporation Tax. Tax saving tips are often about being super organised with what you claim and making sure you get the basics correct. With this in mind here are some of the basics you should be looking out for: Claim Business [...]
One thing is for certain, this years Autumn Statement is going to be carefully watched by many interested parties. Arguably, even more so than most budgets because of the unique set of political circumstances we find ourselves in at the moment. The Brexit Vote and The US Presidential Elections effects on our economy and their [...]
If you trade through a limited company and take your income as a mixture of PAYE salary and dividends, then you will probably be worse off after April 2016. This is because of the impending changes to the way dividends are going to be taxed. This change affects dividends you receive after April 2016 and [...]
Did you see this BBC2 documentary last night? If not check it out on the iPlayer. http://www.bbc.co.uk/iplayer The business people of Crickhowell, a small town in Wales, took on HMRC and the tax system to try and level the playing field for small businesses. They attempted to prove a point by researching and investigate a [...]
Surely no-one can dispute that small businesses are vital for the economy: In 2013, there were 4.9 million businesses in the UK, over 99% of which were small and medium enterprises. Small and medium enterprises employed 14,424,000 people in the UK in 2013. The European Commission’s SME Performance Review estimates the Gross Value Added of [...]
I have noticed lately an increase in the number of calls from business owners whose accountants have seemingly taken on Magical Powers. They have mastered the art of disappearing. Cutting off all communication from their clients and effectively ceasing their involvement with them. When this happens it puts enormous pressure on the business owner because they [...]
If you happen to read HMRC’s website (and I do more than I care to admit) you would see that one of their key responsibilities is safeguarding the flow of money to the Exchequer through collection, compliance and enforcement activities. Which is to say they collect the tax that is due. Almost all income is [...]
