Don’t Neglect Your Balance Sheet

Business owners tend to focus on increasing profit and driving down costs. While this is important, you must not neglect your Balance Sheet. Profitable businesses can and do go broke; your Balance Sheet is a key indicator of how solvent your business is. Here are four key areas of your Balance Sheet to focus on: […]

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Planning your Company Filing and Payment Deadlines for the Year

Keeping on top of the deadlines for your company filing and tax payments can be hard work. With so many elements to coordinate and keep track of, it’s easy for deadlines to occasionally slip through the cracks – but that can lead to fines, penalties and other issues. The key is to stay fully in […]

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What Home Office Expenses are Deductible for your Business?

With greater use of home-working now the norm for many UK businesses, it’s important to think about the deductible expenses that you may be able to claim when working from a home office. Working from home results in us using more power, more broadband and more heating than when working from an office space, or […]

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Wages and Dividends for 2019-20

Here we outline the suggested combination of salary and dividends from your limited company to make best use of the tax rates and allowances. If you are looking at taking alternative combinations of salary and dividends, additional tax and NI will be due. Tax will be payable on all dividends in excess of £2k so […]

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Employer Supported Childcare

Employer supported childcare, commonly by way of childcare voucher, is for many employers and employees a tax and national insurance efficient perk. We consider the implications of this type of benefit on the employer and employee. This scheme is due to end on the 4th October 2018 so action needs to be taken now to […]

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Cars for Employees

The current regime for taxing employer provided cars (commonly referred to as company cars) is intended: to encourage manufacturers to produce cars which are more environmentally friendly and to give employee drivers and their employers a tax incentive to choose more fuel-efficient and environmentally friendly vehicles. We set out below the main areas of importance. […]

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Travel and Subsistence for Directors and Employees

Travelling and subsistence expenditure incurred by or on behalf of employees gives rise to many problems. We highlight below the main areas to consider in deciding whether tax relief is available on travel and subsistence. Employees with a Permanent Workplace Many employees have a place of work which they regularly attend and make occasional trips […]

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Share Ownership for Employees – EMI

Enterprise Management Incentives (EMI) Retaining and motivating staff are key issues for many employers. Research in the UK and USA has shown a clear link between employee share ownership and increases in productivity. The government has therefore introduced a variety of ways in which an employer can provide mechanisms for employees to obtain shares in […]

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Research and Development

Research and development (R&D) by UK companies is being actively encouraged by Government through a range of tax incentives. The government views investment in research and development (‘R&D’) as a key to economic success. It is therefore committed to encouraging more smaller and medium sized (‘SME’) companies to claim R&D tax relief The incentives are […]

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National Minimum Wage

The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not complying with the NMW and NLW rules. HMRC are the agency that ensures enforcement of the NMW and NLW. We highlight below the main principles […]

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