Blogs
4 Common Accounting Mistakes Small Business Should Avoid
Accounting is paramount in any business process, no matter how big or small. The idea
What’s the Optimum Director’s Salary and Dividends in 2020/21?
The Optimum Director Salary 2020/21 will be £8,788 per annum, or £732 per month, or £169 a week. For most owners, this is the most tax-efficient rate to pay themselves. If you work with your own limited business, one of the key things of your tax preparation will be to guarantee that you pay the maximum wage and dividend rates for yourself.
Tax Reliefs and Allowances: Maximise Your Savings
Tax reliefs and allowances enable you to reduce the amount of income tax that you
How an Accountant Can Help With Your Self-Assessment
As a crucial piece of financial documentation for UK business owners, the self-assessment form is
What are Some of the Major Takeaways for Company Directors & Shareholders?
Many small companies are run by just one or two directors and have no other
Top 5 Things you Must Know about the Coronavirus Job Retention Scheme
The Coronavirus Job Retention Scheme is temporary. It’s open for all UK employers for at
The Coronavirus Job Retention Scheme: furlough guidance
The aim is to keep people at home while enabling employers to keep staff who
How Can Small Businesses Support Themselves During These Trying Times?
Covid-19 has had a big impact. Big corporations and even multi-millionaire companies faced a setback.
How to Take Care of the Late Filing Penalties for 2024/25?
If you are carrying out day-to-day business activities in the UK, there will be many
Allowable Expenses for Small Businesses
Always look at the facts of any deductibility of expenditure and fully explore the reasons for any claim as in Daniels v HMRC where deductibility of an exotic dancer’s clothing and underwear and other items, including cosmetics and hair extensions, was under scrutiny.
VAT on Reimbursement or VAT on Disbursement
The difference between the VAT on Reimbursement or VAT on disbursement has a significant point of view as reimbursements are subject to VAT, while disbursements are outside the scope of VAT.
How To Reduce Inheritance Tax?
IHT is a tax on the value of the estate at death but also on chargeable transfers made with various reliefs. When discussing matters, care is being required for both lifetime and after death. Consider using these six tips to learn out “how to avoid inheritance tax”.
3 Ways to Make Property Transfer Easier Between Spouses
If a house transferred between spouses or between civil partners, of each other. And who are living together? whether by sale or by gift, the period of ownership of the transferee treated by TCGA 1992 s222(7). (a) as beginning at the beginning of the period of ownership of the transferor. This also applies where the house transferred from one to the other on death.
What’s Children Tax? How Can One Have Full Entitlement to It?
Subject to some exemptions, a child may have taxable income which is chargeable; however, the child will have full entitlement to personal allowances and reliefs.