Category: Tax Advice

Our UK-tax archive is a comprehensive and up to date knowledge base for all your tax related questions.

Here you will find advanced guides, news updates, expert analysis and tax rates predictions.

In need of some additional advice? Please don’t hesitate to contact us.

Wages and personal allowance thresholds for April 2019.

Current Tax Year ended 5th April 2019 In the current tax year ended 5th April 2019, we general advise a salary of £702 per month, depending on your additional personal income to date. Not including additional income, […]

What is the 24 month rule?

Travel expenses are part of the 24 month rule There are numerous rules and limitations when contracting. However, one of the more important rules all contractors need to be aware of is the “24 month rule” when […]

Making Tax Digital for VAT

Making Tax Digital for VAT – The Complete Guide for Small Businesses

Starting from April 2019, most VAT registered businesses will have to comply with the new ‘MTD for VAT’ regulations and submit their VAT Tax Returns via MTD compatible software. The current process of applying VAT records to your HMRC tax account will become a way of the past, as your invoices and transactions will be transmitted via what HMRC refers to as; ‘Digital Links’ and ‘Software Bridges’. So, to get a better idea about the adjustments needed and to help you get MTD compliant, we have put together the below, Making Tax Digital for VAT complete guide.

UK Dividend tax rates and thresholds for 2018/19

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 […]

Flat Rate VAT UK

Flat Rate VAT changes explained

For some contractors and freelancers, the Flat Rate VAT scheme is a no-brainer. The scheme allows them to reduce tax costs they otherwise could not have reclaimed via standard VAT, and it considerably simplifies bookkeeping. Hence, saving […]

Christmas – Tax Benefits and Expenses

With Christmas just around the corner, it is worth considering what expenses you can claim through your limited company. The “Annual Party” As a director of a limited company, you are exempt from paying tax […]

Off-payroll IR35 changes

Off-payroll IR35 reforms to the private sector – not all bad!

The IR35 reform and the implications on UK’ private sector contractors So, 18 months after the public sector IR35 reforms came into effect, it seems as though we have a date, though not quite all […]

Change to the company car scheme could help electric cars!

Looking to change your car soon? Maybe wait until 2020!

Low-Emission Company Car Vehicles Benefits – April 2020 From April 2020, the company car benefit system will be changing significantly and as a result, zero and low emission vehicles might become very attractive. The changes […]