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Expenses for Small Businesses

Guide for Small Businesses. What Tax Implies on These?

Let’s Talk About Simplified Expenses for Small Businesses. Certain unincorporated small businesses choose to use a ‘cash basis’  for calculating taxable income. It’s under which participants are taxed on the basis of the cash that passes through their books, rather than being asked to undertake complex and time-consuming calculations designed for big businesses.   What

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Dividends Tax

Dividends Tax

The dividend allowance, which was originally introduced from 6 April 2016, was cut from £5,000 a year to £2,000 from 6 April 2018. The cut is likely to have a significant impact on employees and directors of small businesses who receive both salary and dividend payments. Many family-owned companies allocate dividends towards the end of

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HMRC or Tax Scam

HMRC or Tax Scam

You must beware of tax scams. The HMRC regularly warns taxpayers to be alert to fraudsters purporting to be from HMRC. Recently, they announced that in the last year they deactivated more than 20,000 fake HMRC websites, an increase of 29% on the previous year. HMRC has also called on people to stay vigilant to

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VAT Accountants

VAT Accountants

Do you know? What is a VAT margin Scheme? A VAT margin scheme is an optional scheme which can be opted by anyone selling the following Second-hand goods, Works of art, Antiques, Collectors’ items   Why do you need a VAT margin scheme?   If you are selling the goods mentioned above, you may have

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