The CleverHub
A central source of accountancy related news, arcticles and reviews
Our latest blog
The tax saving benefits of limited company pension contributions
When you have your own limited company, you could get significant tax benefits through your company making contributions to your personal pension, as well as increasing your pension pot for future retirement.
Featured reads
IR35
Find out what changes are coming, how this could affect you and what we can do to help.
COVID-19
Information for contractors, freelancers and limited company on what help is out there
Spring Statement 2022 – Summary for businesses
Following the announcement that inflation rose to a 30 year high of 6.2% in February 2022 and on the back of rising fuel, energy and food costs, the Chancellor of the Exchequer, Rishi Sunak unveiled his Spring Statement, this week.
Here are some of the announcements relevant to businesses
Maximising your tax allowances before 5th April 2022
As the end of the current financial tax year is fast approaching, we have prepared a short list of tasks you might want to review in order to maximise your tax allawance before 5th April 2022.
The National Minimum Wage and National Living Wage rates to increase from 1st April 2022
The National Living Wage and the National Minimum Wage will increase from the 1st April 2022.
If you are an employer, it is important to review the working hours and rate paid to staff, to ensure they do not fall below the new National Minimum Wage and the National Living Wage rates.
What is a Members Voluntary Liquidation (MVL)?
Are you thinking about closing your limited company?
As long as you have over £25,000 of net assets to distribute between shareholders a Members’ Voluntary Liquidation (“MVL”) will probably be the most tax-efficient way to close your business.
In this article, we uncover the financial benefits of MVL and in which circumstances it might be the more tax-efficient option for you.
How to declare Coronavirus (COVID-19) grants and support payments for businesses
UK businesses who claimed financial support via the Covid-19 business support schemes may be liable for tax payments on their income of taxable profits.
In this article, we’ll explain how to declare these support payments via your Company Tax Return or Self-Assessment.
What is the Start Up Loans scheme and how does it work?
The Start Up Loans program was introduced to encourage entrepreneurship in the UK and provide easier financing access to new businesses.
For those eligible, this government-backed personal loan offers borrowing of up to £25,000 along with a repayment plan at a fixed interest rate of 6% per annum, over a period of 1-5 years.
Christmas Tax Exemptions – Virtual parties, Christmas gifts and Trivial Benefits
Christmas is fast approaching, and in the season of goodwill, you may be thinking of hosting a gathering or buying a few gifts for colleagues or customers. Here’s a quick reminder of the relevant tax relief rules, so you can be generous without running into trouble with HMRC.
How cryptocurrency is being taxed in the UK?
It is estimated that more than 3 million people in the UK currently own a cryptocurrency. Since 2008, over 9 million Brits were engaged in purchasing a crypto coins.
As digital currencies become increasingly popular with both individuals and businesses, one must be aware of the tax requirements involved with investing in cryptocurrencies.
In this article, we’ll explain in which circumstances cryptoassets are taxed in the UK.
Why it is essential to have your contract reviewed – The IR35 case of Dave Clark and Little Piece of Paradise Ltd
Dave Clark has recently lost his appeal between his company Little Piece of Paradise Ltd (LPPL) and HMRC. In its verdict, The First-Tier Tribunal (FTT) has reviewed the contractual service agreements between LPPL and Sky; covering a six-year period from 2012 to 2018.
In the court’s decision, Judge Heidi Poon concluded that there wasn’t sufficient evidence to support an outside IR35 service agreement between LPPL and Sky.
In this article, we will review the three pillars of off-payroll employment – Control, Substitution and Mutuality of Obligation (MOO), and how the judges evaluated the actual working practices implemented between LPPL and Sky.
Need an accountant?
Clever Accounts offers fixed-fee online accountancy support for contractors, freelancers and limited companies.
Dedicated accountants, online accounting software and 15 years expertise in the market makes us the perfect choice.