When to Complete Your Tax Returns
Running your own business comes with responsibilities. You may now pay salaries to employees/directors and dividends to shareholders, manage end of year paperwork, and network with potential clients for your next flourishing role. You welcome these tasks as your new [...]
Detailed Autumn Budget Report 2017
This Report, which was written immediately after the Chancellor of the Exchequer delivered his Budget Speech, is intended to provide an overview of the latest announcements and recent measures most likely to affect you or your business. The 2017 Autumn [...]
Autumn Budget 2017
Philip Hammond delivered his Budget today after much speculation. All in all it was a pretty underwhelming budget speech and “red book”. All those rumours of immediate roll out of the public sector IR35 reforms to the private sector, reduction [...]
Top 6 Tips for Setting Up a Limited Company
Deciding to create your own limited company is a thrilling experience. You’ve got the skills, ambition, and work ethic. It is something you’ve been itching to do and now you’re ready. But do you know what incorporation entails? We’ve developed [...]
5 Skills You Need to be a Successful IT Contractor
When a person decides to leave a permanent role in exchange for running his/her own IT contracting business, this fact alone shows an initiative and mindset needed to succeed in contracting. But the necessary skills for financial and professional freedom [...]
How to Choose a Contractor Accountant
Making the switch from working for an employer to working for yourself is a rewarding experience. You are gifting yourself with the freedom, power, and gratification of being your own boss. The challenges are exciting, roles are never boring, and [...]
Director’s loans – can you get a loan from your company?
A director can loan money to or receive a loan from a limited company but it is important that the tax implications are understood to avoid any surprise tax bills.Loaning money to a limited companyA director can lend money to [...]
Inheritance tax receipts continue to rise
Latest figures from HMRC reveal a 22% increase in inheritance tax (IHT) receipts in the 2015/16 tax year. This is a significant uplift from the average 12% annual increases that have been experienced since 2010.
Dealing with distractions
Research suggests that when we are distracted from a piece of work it takes between 10 and 15 minutes to get back to that point of focus afterwards.
2017/18 UK Tax Calendar
A summary of important tax-related dates for your business from April 2017 to 2018. For further clarification on any dates please don't hesitate to contact us.
Tax planning for 2017/2018
There are no major changes to tax rates from April 2017 however the personal allowance and higher rate tax threshold have increased.
New VAT Flat Rate Scheme
From 1 April 2017 many businesses who use the VAT flat rate scheme (FRS) are going to see an increase in the Flat Rate % they apply to calculate amounts due to HMRC.
Spring Budget 2017
The Chancellor Philip Hammond has delivered his first Budget speech and outlined plans for what he called ‘a fair, stable and competitive tax system’.
Are you contracting in the public sector?
As you may have read in our Autumn Statement commentary, changes in April 2017 will mean that contractors working in the public sector will no longer have a say in their IR35 status. Instead the responsibility to determine IR35 status [...]
Autumn Statement 2016 More Information
Chancellor pledges post-Brexit economy ‘that works for everyone’ The new Chancellor of the Exchequer, Philip Hammond, acknowledged ‘sharp challenges ahead’ for the economy as he presented his first major fiscal statement, exactly five months after the UK’s historic vote to [...]
Autumn 2016 Statement
Philip Hammond has just delivered his first Autumn Statement and announced a whole raft of changes in government policy ranging from Research and Development incentives to help bridge the "productivity gap" to a £7.6m grant to save Wentworth Woodhouse – [...]
Chancellor presents a ‘next-generation Budget’
What does it mean for contractors and small businesses? There is more information in the following pages but the main areas of interest for contractors and small businesses are as follows
2016/2017 UK Tax Calendar
A summary of important tax-related dates for your business from April 2016 to 2017. For further clarification on any dates please don't hesitate to contact us.
Changes in Dividend Taxes from April 2016
From 6 April 2016 there are changes to the way in which dividends will be taxed. The complicated 10% tax credit system is being removed so all dividends will be paid net and new rates will be introduced to tax the dividends received in the year.
Christmas expenses guide
You can claim for an annual party (it doesn’t have to be a Christmas party but must be an annual event). The cost is limited to £150 (including VAT) per employee or director.