Monthly Archives: April 2019

30 04, 2019

Your Go-To Guide: Dividends

By |2019-05-20T20:36:35+00:00April 30th, 2019|Business planning, Tax|

As a company director of a profitable limited company, you will want to strike a balance in investing profit back into your business and taking funds out for personal use, all the while ensuring you do so in a tax efficient manner that works for you. You have two options to extract profit from your business for personal use – either through a salary and/or dividends.  The dividend option is the [...]

26 04, 2019

5 Key Tax Saving Tips for Your Small Business

By |2019-05-20T20:48:25+00:00April 26th, 2019|Business planning, Tax|

Every penny counts when starting off in business, with cash flow management essential for small and medium sized businesses, including looking for ways to reduce your tax liability where possible. The government have many tax reliefs in place for businesses of all sizes, from sole traders to global organisations.  In this article we look at five common key tax savings tips for small and medium sized businesses, which you may [...]

24 04, 2019

Business owners: Are you aware of Entrepreneur’s Relief?

By |2019-05-29T11:24:03+00:00April 24th, 2019|Business planning, Tax|

Both sole traders and limited company owners can benefit from entrepreneur’s relief, which allows a trading business to experience reduced rates of capital gains when selling a business or ceasing to trade.  The tax relief is 10% versus the standard 20% corporation tax charge for all lifetime gains up to £10 million.  The relief has been scaled up since it was first introduced in 2008 where its starting point was [...]

19 04, 2019

Why should I use QuickBooks for my business?

By |2019-05-20T20:58:33+00:00April 19th, 2019|Business planning, Cloud|

The benefits of using a cloud accounting software package for your business, such as QuickBooks, are all centred around keeping a view of your business finances in real-time. Having a view of your cash flow at all times is vital to ensuring important and informed decisions can be made at the vital time for your business, any time or place, so you remain profitable and setting yourself up for success. [...]

16 04, 2019

SMEs: Can I use artificial intelligence to help my marketing?

By |2019-04-16T12:08:43+00:00April 16th, 2019|Business planning, Cloud, Start-ups|

We are told artificial intelligence (AI) and big data are the future of our working practices, but how accessible are AI tools to small and medium sized businesses (SMEs) who have limited resources versus larger competitors? The advent of affordable AI tools can already be seen in the market place from names we all know well and may work with already, including Adobe's Marketo and Salesforce’s Pardot, both of which [...]

10 04, 2019

Are you due a tax rebate? Only a year left to claim backdated marriage allowance

By |2019-04-10T13:39:49+00:00April 10th, 2019|Business planning, Cloud, Tax|

Couples only have till this time next year to claim a marriage allowance rebate dating back to the first tax year the tax relief came into force in 2015/16.  This falls into the standard timeline of a four-year backdated period to claim a tax refund from HMRC.  So if you were to miss the 5th April 2020 deadline, your claim for the tax year 2015/16 will be closed and you [...]

5 04, 2019

Tax Returns: Do you need to submit one and if so, when?

By |2019-04-16T12:41:46+00:00April 5th, 2019|Business planning, Tax|

If you are self-employed and earning more than £1,000, a partner in a partnership business, a company director or if you have other income from savings, investments or property, you will need to file a Self Assessment Tax Return (SA). The SA is not a tax itself, it is a way of calculating and paying tax. If you fit into one of the categories above you are wholly responsible for [...]

2 04, 2019

Tax changes to be aware of from 5th April for tax year 2019/2020

By |2019-05-20T21:01:37+00:00April 2nd, 2019|Business planning, Tax|

With the new tax year starting on 5 April for 2019/20, we review the substantial changes coming into force and affecting your personal and business affairs. Income Tax changes - more money in your pocket From 2019/20, the personal allowance (PA) will rise from £11,850 to £12,500, meaning more money in your pocket. Furthermore, if your income after charity and pension contributions, otherwise known as your 'adjusted net income', exceeds [...]

1 04, 2019

Payments on account – update for 2019/2020 tax year

By |2019-05-20T21:02:56+00:00April 1st, 2019|Business planning, Sole trader, Start-ups, Tax|

When a person first becomes self-employed, the first tax bill can have an extra sting in it if they are required to make “payments on account”.  There is a lot of confusion about what these represent, and when they are due for payment, so we hope to make them a little clearer in this blog and look at how to reduce payment on account. Imagine an individual’s tax bill is [...]