Allowances
Some ‘Highlights” below; If you are in doubt and want to talk to someone, please give either of us a call Call –Tim: 07875 410466Call – Nic: 07985 645087 Well, there’s a few of these and you’re welcome to view them all on this link
Read MoreWhat Is Making Tax Digital (MTD)?
Making Tax Digital (MTD) is a UK government initiative from HMRC designed to modernise the tax system, making it more efficient, accurate, and easier for taxpayers to manage. Under MTD, businesses must keep digital records and use compatible accounting software to file tax returns online. The rollout began with VAT in April 2019. Now, all […]
Read MorePayroll or Not – and What About Pensions?
If you have an employee and they are paid more than £4,992/annum then you should apply for a PAYE reference and run a payroll, keep records and send regular submissions to HMRC. You must also pay PAYE and National Insurance ,due by certain deadlines. If you are the sole Director of a Limited Company and […]
Read MoreProperty Tax
If you own property, this could either be individually or through a Limited Company. If you have the one property you own and rent out, you’re probably better owning this individually and paying Income Tax, as long as you’re a basic rate tax payer. However, if you have more than one property or intend to […]
Read MoreVAT Registration
VAT Registration: VAT Deregistration: Implications: If you are in doubt and want to talk to someone, please give either of us a call Call –Tim: 07875 410466Call – Nic: 07985 645087
Read MoreInterest on savings
Tax is due on interest earnt from certain investments, and with increases in interest rates more tax payers are now required to declare and pay tax in interest earnt. It is the responsibility of tax payers to declare interest earnt where tax is due. Tax laws and regulations can be complex and subject to change, […]
Read MoreCapital or Expense?
So what’s the difference and how do I know which is which? Generally, the rule of thumb is that if the item being purchased has a useful life of more than 1 year, then it’s capital and you would depreciate the cost over the useful life of that asset. For example, a laptop might be […]
Read MoreCorporation Tax
In the UK, corporation tax is a tax on the taxable profits of limited companies and other corporate entities. Here’s an overview of corporation tax and the tax bands in the UK: If you are in doubt and want to talk to someone, please give either of us a call Call –Tim: 07875 410466Call – […]
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