This Friday, 31st January, is a mommentus one. It is not only the last day to submit your tax return but it is also the day we leave the EU and the transition period of Brexit begins. It may be an anti-climax after such a long run-up since the 2016 referendum and perhaps even more so now that it is looking very unlikely Big Ben will chime for Brexit, with [...]
It's a new year and i'm having a clearout and selling my personal things at car boot sales and online via gumtree. I am also self-employed and complete a tax return, do I need to declare the income I receive from the sale of my personal goods on my return and be taxed for it? The question you need to ask yourself is this: Is this additional income regular trading [...]
Not all Directors have to complete a tax return Before July 2017, all directors of limited companies had an obligation to file tax returns. Since then, HMRC has made changes to its guidance on the requirement to file tax returns by directors as a result of the outcome of a tribunal in 2017 with Mohammed Salem Kadhem vs HMRC. The conclusion being that HMRC guidance published on their website is [...]
Scotland is to go ahead with the Scottish Budget on 6 February five weeks before the UK Budget, mainly due to legal requirements to finalise funding for councils. The move by Derek Mackay, SNP, to go ahead with the Scottish Budget before the UK Budget is well within his right but is counter to normal practice. The decision is partly driven by frustration at Holyrood over the lack of coordination [...]
What's the difference between me and you? According to HMRC, 2% of people who filed their tax return last year claimed for underwear! Here at Mirandus, we wouldn't make that mistake, honest! As a Chartered Tax Advisory practice we live, breathe and keep up-to-date on all UK tax law, and what's more, we use our tax expertise, business experience and technology to help our small business clients thrive and grow. [...]
Team Mirandus wishes you a prosperous and peaceful 202o! This is a good time of year to detox after the excessives of Christmas and New Year celebrations but also a great opportunity to detox your finances too, both personally and in your business. Are you happy with your finances? And if not, what positive changes can you make in 2020? Whether you want to achieve growth in your small business, [...]
Another year is almost over and hopefully some R&R in store for all small business owners but also a chance to get organised for 2020 and hit the ground running in January. To save you time, we have provided the small business essential accounting and tax calendar for 2020, an early Christmas present from Team Mirandus - you're most welcome! Some of the dates may change year-to-year but the deadlines [...]
Did you know that every child in the UK has their full Personal Allowance they can utilise before they reach 16 years of age? We look at the various tax efficient options available to you to utilise your children's personal allowance each tax year, helping save for their future and into adulthood. Children and Tax, what options do I have?
Exciting times for the self employed as they take centre stage in the manifestos of the main political parties in this General Election, with the understanding that the self employed are the fastest growing workforce here in the UK. What are the main political parties saying about the self-employed this general election?
3 top tax tips for the self employed and limited company directors in London and Edinburgh which may come as a surprise. You can save time and money if you file your tax return sooner rather than later. Getting ahead of the festive rush can only be a good thing!