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 has just started, and whilst we all have other matters on our mind, it's worth being aware of the full amount you can withdraw from the company tax-free,...
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...
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 a type of...
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.
How is flat rate VAT calculated? Traditionally, contractors have always benefited from registering on the flat rate scheme. This is because VAT would be collected on a sales invoice at 20%, but a lower percentage paid to HMRC. It resulted in most contractors...
Commencing from 6th April 2017, Scottish tax residents now have a different tax band. The amount when the higher rate tax kicks in have been reduced to £43,000 for Scottish taxpayers, compared to £45,000 for the rest of the UK. Here’s the full story.
What is VAT? Value Added Tax (VAT) is one of the most prominent words that orbit the world of business. You often hear comments mentioned such as, ‘is that plus VAT?’ ‘that’s zero-rated VAT,’ ‘have you filed your VAT Return?’ But What is it? VAT is a form of tax that...
This is a reminder for businesses who are VAT registered in relation to general VAT pointers which you may find helpful. Please be aware, per HMRC’s guidelines, appointing accountants to look after your affairs does not relinquish your responsibility. You still have...
Thousands of people in the UK regularly buy and sell goods online these days, using sites such as eBay, Amazon, Etsy or Gumtree. This can be anything from periodically finding a home for unwanted stuff - today's equivalent of the car boot sale - to an extension...
From 1 January 2015 onwards, the way VAT has to be applied when specific ‘digital services’ are supplied to EU customers is changing. This only impacts services provided by a business to consumers (B2C), not services provided to other businesses (B2B). The changes...