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 [...]

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, [...]

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 [...]

8 08, 2019

Taxation of Property & Property Income for Self-Employed and Limited Companies

By |2019-08-08T07:52:05+00:00August 8th, 2019|limited company, Start-ups|

The tax consequences of owning and letting a UK  property depends on a variety of factors with the  tax implications being determined by how the property is held, either by an individual, a trust or a limited company. In terms of purchasing a rental property, we are all well aware of the Stamp Duty Land Tax (SDLT) that is charged when we buy a residential property in the UK, otherwise [...]

6 08, 2019

Business Expenses that are NOT Tax Deductible

By |2019-08-06T11:43:33+00:00August 6th, 2019|limited company, Start-ups|

When compiling your end of year expenses, or even when you are contemplating business expenditure ready to report at year-end to HMRC in the hope of reducing your tax bill, you will likely be familiar with the expenses you are allowed to deduct related to your business activities.  But are you familiar with the business expenses you are not allowed to claim for?  Rather than get into hot water with [...]

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 [...]

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 [...]

12 03, 2019

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 return information to HMRC by using compatible software. HMRC has published a press release to [...]