Entertaining and food

‘What can I can claim for food?’ is a common question asked of accountants. ‘Well, it depends’, is the usual answer. If it is lunch/dinner/coffee at a business meeting then you can’t claim it through your ...

Benefits of having an accountant

Many small business owners think that they can save money by not hiring an accountant, and having the assistance of some software instead. Unless you have a background in bookkeeping and accountancy this can be an expensive mistake. ...

New tax changes from April 2018

This is the time of year when HMRC implement the changes introduced by the latest budget from the Chancellor of the Exchequer. Here are the main changes, which took effect from 6th April 2018. 1) The personal allowance has increased to ...

End of the tax year

The end of the tax year 2017/18 is approaching, and as such there are a few things we should be thinking about; – the dividend tax free allowance of £5,000 is available up to 5th April 2018. From 6th April 2018 this allowance ...

The new £1,000 tax free trading allowance

The new £1,000 tax free trading allowance is available from 6th April 2017. This covers small amounts of trading and miscellaneous income from providing goods, services or other assets. The trading allowance provides a complete ...

Personal Tax 2016/17

The deadline for the self assessment tax return for 2016/17 is 31st January 2018, which is less than 3 months away. If you haven’t completed your personal tax return yet then you haven’t got long. The 2016/17 tax year is ...

Changes to Auto Enrolment

Auto enrolment is entering it’s next phase. Prior to 1st October 2017 employers had a staging date when their legal duties commenced. For new employers employing a person for the first time after 1st October 2017 will have legal ...

IR35 Reforms in the Public Sector

Since the introduction of the new IR35 reforms in the Public Sector in April, where agencies or the Public sector organisation decides whether a contractor is caught by IR35 or not, a number of recruitment agencies including Hays and ...

Making Tax Digital

Making Tax Digital is a government plan coming into force from April 2019. The aim is for individuals and businesses to submit quarterly returns instead of the annual tax return, in operation now. Information such as bank interest and ...

Ltd company v sole trader

With the change in the Corporation Tax rate to 19% from 1/4/17, and the dividend tax allowance of £5,000 in 2017/18, reducing to £2,000 from 2018/19 the tax savings of having an incorporated company as opposed to being a sole trader ...