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.
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 crypto coins. As...
If you’re setting up a limited company you’ll no longer be on someone else’s payroll, so you will need to understand how to extract money from your company....
It is quite common to assume that Capital Gains Tax (CGT) only affects professional investors or large corporations but that isn't really the case.CGT will normally be...
With the deadline for submitting your Self-Assessment Tax Return just around the corner, it’s a good idea to start getting your finances in order so that you don’t have a last-minute panic.
It really doesn’t need to be this difficult, particularly if you keep your finances up-to-date throughout the year. Here we explain more about what’s involved.
Corporation Tax is a good example of a tax liability that can be significantly reduced if done right.
By aligning your company’s annual profit against its annual costs, you may be able to lower your tax bill quite substantially.
If you are unable to make payment of your Self-Assessment Tax Liability, you may be able to apply for a payment plan. HMRC have created and launched an instalment mechanism that you can access directly from your HMRC account. Here is the complete guide.
How to maximise your tax efficiency this year?
There are many solutions you should be aware of in order to fully optimise your take home pay in 2020/21.
To help you get started today, here’s a quick review of some of the benefits available for you and your business.
A new tax year began on April 6th. It will introduce more than a few dramatic changes you should be aware of as a business owner. To help you get ready for the 2020/21 tax year, we have prepared a round-up of these key changes.
When you set up and run a limited company using our online bookkeeping service, it’s important to understand how Corporation Tax works. Corporation Tax is based on the profits your company makes; so you must ensure you set aside enough of your company’s income to pay the tax by or before the deadline. Late or inaccurate payment could mean you face fines and penalties from HMRC.
How and when do you need to pay Corporation Tax?
What would be the most tax-efficient VAT path for your company?
Here’s our new guide for business taxes in 2019/20.
Flat Rate VAT Update - July 2020 As part of the measures to support businesses during the Coronavirus pandemic, the government has announced six months cut in Flat Rate VAT for the hospitality industry. This includes hotels catering businesses, restaurants, takeaways...
Making Tax Digital (MTD) for VAT is the Government’s first phase in what they believe is making tax administration more effective, efficient and easier for taxpayers. The Government has said that one of the main reasons behind the MTD scheme is to help businesses “get their tax right”.
A limited company structure is usually the best way to legitimately and compliantly minimise your tax bill. This is because you can take remuneration through an efficient mix of salary and dividends and claim a wide range of legitimate business expenses.