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.

How to Maximise Your Tax Efficiency – 15 Top Tax Tips for 2019/20

How to Maximise Your Limited Company Tax Efficiency – 15 Tax Tips for 2019/20

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

Payment on account reminder

Personal Tax Bill and Payment on Account – Now Due!

What is a payment on account? If your personal tax bill for the year ended 5th April 2018 exceeded £1,000, you will likely be required to make a payment on account of the year ended […]

10 ways HMRC can tell if you are cheating the tax system

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 […]

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 […]