Personal tax

7 02, 2020

Q&A Friday – How should I structure my small business?

By |2020-02-07T11:19:37+00:00February 7th, 2020|Business planning, limited company, Personal tax, Sole trader, Start-ups, Tax|

One of the most important decisions you will make when starting your business or when considering the legal structure of your existing business is: What is the best structure for my business? Your decision will impact the amount of tax you pay, the control you have on your business profit and how you plan to pay yourself a salary from your business.  So it is very important to take the [...]

31 01, 2020

Q&A Friday! My tax return is filed, but I can’t pay my tax bill. What can I do?

By |2020-01-31T10:23:06+00:00January 31st, 2020|Personal tax, Sole trader, Tax|

If you are a seasoned sole trader, then you will be well aware of payment on accounts, the forward paying tax for the existing tax year.  If you are newly self-employed, then check out our guide on how best to prepare for payment on accounts.  Basically, now that you have filed your tax return you are also due to pay your tax bill for the 18/19 tax year too. Top [...]

24 01, 2020

Q&A Friday! “Do I have to declare income if I sell my personal goods online?”

By |2020-01-24T09:20:39+00:00January 24th, 2020|limited company, Personal tax, Sole trader, Tax|

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 [...]

21 01, 2020

Am I obliged to file a tax return if I am a Director?

By |2020-01-21T12:48:09+00:00January 21st, 2020|Personal tax, Tax|

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 [...]

7 01, 2020

We love tax! Honest…!

By |2020-01-07T10:49:00+00:00January 7th, 2020|Business planning, limited company, Personal tax, Start-ups, Tax|

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.  [...]

1 01, 2020

Happy New Year from Mirandus!

By |2020-01-01T07:55:21+00:00January 1st, 2020|Business planning, limited company, Personal tax, Sole trader, Start-ups, Tax|

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, [...]

17 12, 2019

Small Business Essential Calendar 2020

By |2019-12-17T12:04:18+00:00December 17th, 2019|Business planning, limited company, MTD, Personal tax, Sole trader, Tax, VAT|

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 [...]

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. […]

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 [...]