As the end of the current financial tax year is fast approaching, it’s a good idea to think about whether you have fully maximised the amount you can withdraw from the company, tax-free and at the basic rate of dividend tax.
On Wednesday the 11th March 2020, the newly appointed chancellor Rishi Sunak will deliver his first budget to the country, the first in over eighteen months. We detail what we expect to change below, though […]
English TV presenter and journalist Helen Fospero, has become the ninth broadcaster to claim victory over HMRC at the first tier tribunal.
Christa Ackroyd Media Limited v The Commissioners for Her Majesty’s Revenue and Customs – Round 2 – An example of how NOT to operate outside of IR35
One year and seven months after we considered ‘Why was Ms Christa Ackroyd deemed inside of IR35?’ by the First Tier Tribunal, we now look at the decision of the Upper Tribunal, on appeal by […]
Operating through a limited company structure is usually the best way, for a self-employed individual, contractor or entrepreneur to legitimately and compliantly maximise your tax efficiency. This is because you can take remuneration through an efficient mix of salary and dividends and claim a wide range of legitimate business expenses.
Here are some top tips that could help you save tax either through your company or personally through your self-assessment
IR35 Watch – Results of the Government’s formal consultation on proposed changes to off-payroll in the private sector and industry responses.
A month on from the end of the Government’s formal consultation on proposed changes to off-payroll in the private sector, and its time to consider the proposed changes, how these will affect you as a […]
If your personal tax bill for the year ended 5th April 2019 exceeded £1,000, you will likely be required to make a payment on account of the year ended 5th April 2020. This would have been made up of half your tax bill upfront in January 2020, and another half in July 2020. This means that by the 31st July 2020, you should be paid HMRC the equivalent tax for the year ended 5th April 2020, as you did for the year ended 5th April 2019.
In today’s modern digital age, it is increasingly hard to avoid the many methods HMRC uses for catching tax cheats and those looking to bend the rules. HMRC has come a long way in recent […]