VAT, how does it work?

Value-Added Tax (VAT) is a consumption tax that is levied on goods that have had value added at each stage of the supply chain. Businesses with turnover of £85,000 in a rolling 12 month period or more have to register for VAT. But even if your sales are below that level, you can register 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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Stressed About Your Tax Return?

Top Four Tips to Complete Your Tax Return If you want to avoid the stress of your tax return, follow these four simple steps to prepare your business in advance. Tax season is one of the most stressful periods of the year for a business owner. With proper planning, however, you can change that. It’s […]

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How Accountants Can Save You a Fortune

Accounting is a crucial part of every business, from small boutiques to multinational corporations. You can’t ignore your accounts, and doing so for even a short period of time can damage your business. However, accounting is complicated, and mistakes can be costly. Hiring a professional will save you a huge amount of time and money, […]

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Using Pension Contributions to Reduce Corporation Tax

If you’re looking for ways to minimise your corporation tax bill, it’s worth considering if there are deductible expenses you can claim. One key area to think about is your director pension contributions, as these can be offset against your taxable profits. Pension contributions for directors of up to £40K per annum can be deducted […]

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Are You Paying Too Much on Your Tax Bill?

Paying your tax bill is an inevitable part of doing business. The more your income grows, the more tax you will have to pay. Unfortunately, you’re rewarded for your success with a bigger tax bill. While we don’t want our clients to avoid paying tax or evading HMRC. We do want our clients to pay […]

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Some good news for companies

There was some welcome news from Philip Hammond’s Autumn Statement for small and medium sized companies regarding the tax relief available if a company makes a loss. Historically, corporation tax loss reliefs have mirrored the principles upon which income tax loss reliefs have been based – if a loss is incurred in a trading business, […]

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Taxation of the Family

Individuals are subject to a system of independent taxation so husbands and wives are taxed separately. This can give rise to valuable tax planning opportunities. Furthermore, the tax position of any children is important. Marriage breakdowns can also have a considerable impact for tax purposes. We highlight below the main areas of importance where advance […]

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