Personal tax

Understanding Capital Allowances for Self Employed and Limited Companies

By |2019-08-13T11:32:59+00:00August 13th, 2019|limited company, Personal tax, Tax|

Capital allowances are benefits to a business to help reduce your tax bill when you buy assets for your business, while most assets can be considered from equipment and research costs to expenses for building renovations.   Buildings themselves purchased for business use do not qualify for the allowance, but there are some components which may [...]

Limited Companies: The Top Ten Expenses you should be claiming now

By |2019-07-23T07:34:29+00:00July 23rd, 2019|Business planning, Cloud, limited company, Personal tax, Tax|

As a director of a limited company, you will likely be well versed in the basics of business allowable expenses; that is, you can only claim expenses which are "wholly and exclusively" related to your limited company activities. But are you really making the most of the tax reliefs available to you? As a start [...]

Limited company structure: is it time to move?

By |2019-05-21T06:29:29+00:00May 21st, 2019|Business planning, Personal tax, Tax|

There are many advantages of having a sole trader structure for your business with the main one being the simplicity of business administration versus a limited company set-up.  However, as your business thrives and grows, the potential next step to limited company status can provide credibility and attractiveness as an established business to your customers, [...]

Final days to get ready for VAT filing changes on 1 April 2019

By |2019-05-20T21:05:57+00:00March 12th, 2019|Business planning, MTD, Personal tax, Sole trader, Start-ups, Tax, VAT|

The deadline for the introduction of VAT filing changes is now just weeks away. For VAT returns periods starting on or after 1 April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000) will be required to start keeping their records digitally (for VAT purposes only) and provide their VAT [...]

Can you benefit from Tax Relief when working from home?

By |2019-05-20T21:06:55+00:00February 4th, 2019|Business planning, Personal tax, Sole trader, Start-ups, Tax, VAT|

Flexible working, including working from home, is becoming increasingly common in the workplace, as we are starting to see larger corporate organisations rolling out their formal flexible working policies.  There are, however, many employees who work from home and incur costs but do not proactively receive reimbursement from their employer and are not aware of the [...]

Digital Tax is Coming – Be Prepared for the Change!

By |2019-06-06T13:23:09+00:00January 22nd, 2019|Business planning, Personal tax, Sole trader, Start-ups, Tax, VAT|

As you may already be aware, HMRC has issued plans to make businesses file quarterly information with them. How individuals and businesses interact with HMRC is therefore changing. Keeping your financial records will become increasingly digital and most businesses will need to use software or apps to keep business records – the days of manual [...]