If you are thinking of making a gift to charity, this factsheet summarises how to make tax-effective gifts. You can get tax relief on gifts to UK charities if you give: under Gift Aid through a Payroll Giving scheme, run by your employer, or by making a gift of certain shares or land. Location of […]
Cash Basis for the Self-Employed
We consider the optional rules which allow small unincorporated businesses to calculate their profits for tax purposes on a cash basis rather than the normal accruals basis. Accruals basis and cash basis One example which illustrates the difference between the accruals basis and cash basis is that credit sales are included in the accruals basis […]
Autumn 17 Newsletter
Please click below to view the Autumn newsletter for 2017 in PDF. Autumn 17 Newsletter […]
Summer 17 Newsletter
Please click below to view the Summer newsletter for 2017 in PDF. Summer 17 Newsletter […]
Valuing Your Business
There are many reasons why you may need to calculate the value of your business. Here we consider the range of methods available as well as some of the factors to consider during the process. It is important to remember throughout that valuing a business is something of an art, albeit an art backed by […]
Statutory Sick, Statutory Maternity and Statutory Paternity Pay
Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP) Statutory Paternity Pay (SPP) and Shared Parental Pay (ShPP) are important regulations to understand as they enforce minimum legal requirements on employers. Each operates in a different way. This factsheet sets out the main principles of the regulations and what an employer needs to consider. […]
Starting Up In Business
It is the ambition of many people to run their own business. Some may have been made redundant and find themselves with free time and financial resources. Others make the decision to start up in business to be more independent and obtain the full financial reward for their efforts. Whatever the reason, a number of […]
Seed Enterprise Investment Scheme
The Seed Enterprise Investment Scheme (SEIS) provides tax relief for individuals prepared to invest in new and growing companies. It is the junior version of the Enterprise Investment Scheme (EIS). Investors can obtain generous income tax and capital gains tax (CGT) breaks for their investment and companies can use the relief to attract additional investment […]
Payroll – Basic Procedures
New employer In order to set up a Pay As You Earn (PAYE) scheme with HMRC it is necessary to contact the New Employer’s Helpline on 0300 200 3211 or register online via the GOV.UK website. As an employer you will be responsible for operating PAYE and calculating National Insurance Contributions (NICs). There are also […]
Enterprise Investment Scheme
The purpose of the Enterprise Investment Scheme (EIS) is to help certain types of small higher-risk unquoted trading companies to raise capital. It does so by providing income tax and CGT reliefs for investors in qualifying shares in these companies. There are really two separate schemes within the EIS: a scheme giving income tax relief […]