Latest News

UK votes to leave EU: How will it affect my Business?

Many of you may be wondering this as we start the first Monday after the vote to leave last week. The markets are volatile. UK’s credit outlook has been downgraded to negative We are being told we will now suffer from months of uncertainty and only 15% of UK businesses feel “well informed” about the impact to them. So...
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Auto enrolment workshop – take advantage!

We are having an informal lunch-time workshop this Thursday 23 June at 12:00pm at our offices in Nottingham.  The workshop is being presented by Angela Ward of The Ink Group, who are Auto Enrolment specialists.  The workshop is designed to help you plan for Auto Enrolment, to meet your obligations as an Employer and to...
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Timing is everything – part two

The week before Christmas we posted an article stressing the value of checking out the tax consequences of investing in new plant and equipment. We stressed the importance of timing.

But this is just one issue that should be considered before the end of the current tax year. Every business owner and individuals with significant earnings,...

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Tax Diary January/February 2018

1 January 2018 - Due date for corporation tax due for the year ended 31 March 2017.

19 January 2018 - PAYE and NIC deductions due for month ended 5 January 2018. (If you pay your tax electronically the due date is 22 January 2018)

19 January 2018 - Filing deadline for the CIS300 monthly return for...

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CGT opportunities

This is also an appropriate time of the year to consider your capital gains tax position if you have already disposed (or are considering a disposal) of an asset subject to CGT before 6 April 2018.

Most of our readers will be aware that they can make chargeable gains of up to £11,300 in the tax...

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Does you employer still pay for your private fuel

As we are approaching the end of yet another tax year, it is worth repeating our suggestion that highlights the cash benefit to company car drivers and their employers, of reimbursing the cost of fuel provided for private motoring. The rates have been updated for 2017-18.

Since the tax on private fuel provided with company cars...

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Sole trader or incorporated

From April 2018, the £5,000 tax-free dividend allowance is reducing from £5,000 to £2,000.

Does this mean that converting from self-employed to a limited company arrangement to save tax and NIC is no longer a viable option? Readers who have adopted this strategy will have likely seen a reduction in taxes due thus far, but the...

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Happy New Year

Let us hope that 2018 presents opportunities to build our business interests and improve the financial position of our families. Certainly, there were many changes last year, not least the ongoing implications of the Brexit vote, that have proved to be challenging and not only for the politicians.

A reminder, as we look forward to the...

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A competition for budding space entrepreneurs

As we look forward to meeting our own challenges this new year, it is gratifying to come across a challenge aimed at stretching the imagination of our children.

The SatelLife Challenge, now in its second year, is looking for innovative proposals from those aged 11 to 22 which have the potential to use data collected from...

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Happy New Year and beware the gift card scam

Let’s hope that 2018 offers more cheer than 2017…

Unfortunately, the season seems to bring out the good and the not so good in human nature. Readers are advised to be wary of the following scam that is targeted at vulnerable and elderly taxpayers.

The notice issued by HMRC says:

HM Revenue and Customs (HMRC) is today (20...

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What happens if we can\’t manage

A reminder that as we age the argument that we should grant powers of attorney to trusted family members becomes increasingly relevant. A lasting power of attorney (LPA) is a legal document that lets you (the ‘donor’) appoint one or more people (known as ‘attorneys’) to help you make decisions or to make decisions on...

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Timing is everything

We are fast approaching the end of the 2017-18 tax year. In fact, the 31 March (or 5 April) is probably the most common trading year end date for sole traders, partnerships and limited companies. And individuals have no choice, the self-assessment tax year ends on 5 April.

This being so, it is worth considering how...

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