Shai

About Shaima Todd

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So far Shaima Todd has created 81 blog entries.
19 11, 2019

Can I claim entertainment as a business expense on my tax return?

By |2019-11-19T09:06:03+00:00November 19th, 2019|Business planning, Personal tax, Sole trader, Tax|

Business entertaining when you are self-employed or a small business could very well be a major part of your business development, helping to establish and grow your business relationships to help your small business grow and thrive.  Claiming tax relief on your entertainment is a complex and grey area, read on to find out more. […]

13 11, 2019

Do you have a good excuse for missing the Self Assessment deadline?

By |2019-11-13T08:10:13+00:00November 13th, 2019|Uncategorized|

Did you know that HMRC estimates that almost half a million small businesses and self employed individuals miss the Self Assessment deadline every year? If this sounds like you, you will already be well aware of the penalties that HMRC impose for delayed returns, and you may well be wondering how best to avoid the immediate £100 penalty and get back in the good books of the taxman. HMRC publish [...]

8 11, 2019

What are Flat Rate Expenses and can I claim them?

By |2019-11-08T09:51:39+00:00November 8th, 2019|Uncategorized|

Many employees of small businesses are entitled to Flat Rate Expenses but not a lot of people are not aware of this valuable tax relief.  Thousands of pounds in Flat Rate Expense Tax Credits go unclaimed every year, are you or one of your staff one of those missing out? So, what are Flat-Rate Expenses? A Flat Rate Expense is a tax relief that is available for particular occupations and [...]

29 10, 2019

Your Go-To-Guide: Payment on Account for the Self-Employed and Sole Trader

By |2019-10-29T14:40:09+00:00October 29th, 2019|Sole trader, Tax|

If you have to complete a Self Assessment tax return as a self-employed individual or sole trader, the deadline for the online submission of your tax return for the previous tax year is 31 January, and this is also the date you are required to pay any tax due. On 31 January, you may also be required to pay  some tax in advance for the current tax, known as 'payment [...]

24 10, 2019

Tax allowances to consider when completing your Self-Assessment Tax Return

By |2019-10-24T08:43:38+00:00October 24th, 2019|Sole trader, Start-ups, Tax|

When completing your Self Assessment Tax Return (SA) there are other things you will need to consider in addition to your profits from self-employment, including other income such as a pension, employment or savings. There are also tax allowances and tax reliefs which you may be entitled to which could reduce your tax bill.  Here are the main tax allowances you should consider when turning your attention to your [...]

22 10, 2019

Small businesses: do you have a Brexit clause?

By |2019-10-22T08:45:03+00:00October 22nd, 2019|Brexit, Business planning, limited company, Tax|

If you are small business owner and your company trades with the EU, are you prepared for Brexit?  With Brexit looming, you will need to position your small business to avoid the least disruption and damage to you and your customers or clients.  A Brexit Clause is something you may want to consider with your EU clients and suppliers to protect each other's interests and keep costs under scrutiny in [...]

16 10, 2019

Ten reasons why it pays to get your tax return done early

By |2019-10-16T09:09:38+00:00October 16th, 2019|Uncategorized|

January is a busy time for the self-employed and HMRC are in the thick of it with Self-Assessment Tax Return season. It was reported that 2.6 million people still had not completed their Self Assessment Tax return by 29 January this year, just a mere 2 days to  beat the deadline of 31 January and avoid an immediate £100 fine from the taxman. It will come as no surprise [...]

8 10, 2019

Will Tax Change after Brexit?

By |2019-10-08T09:20:27+00:00October 8th, 2019|Brexit, Business planning, Inheritance Tax, Personal tax, Tax|

In the run up to the Brexit deadline of 31 October, we look at frequently asked questions we hear from clients and provide answers when looking at potential tax changes after Brexit affecting your personal and business income.   Question: I work abroad, will I be taxed twice on my income after Brexit? Whether you are a UK national working currently in the EU or an EU national working in [...]

4 10, 2019

Buy-to-let landlords Act Now – Capital Gains Tax Payment Changes Looming

By |2019-10-04T08:39:05+00:00October 4th, 2019|Property, Tax, Trusted Adviser|

Do you own a buy-to-let or an investment residential property? If so, are you aware of the payment changes coming into force very soon in the next tax year, on 5 April 2020, which directly impacts capital gains tax due on your property disposal?  Read on to learn what you need to do now to avoid unnecessary penalties. It is important that you work closely with an accountant to understand [...]