Accountants in Putney

Budget 2017 – Key Points

Posted by on March 9, 2017 at 12:57 pm

Here is a summary of the 2017 budget and its effect on the areas of personal taxation, businesses and the economy in general. Personal Taxation The tax rate for class 4 national insurance contributions for the self-employed to increase from 9% to 10% in April 2018 and 11% in April 2019. This increase applying to earnings […]

Real Cost for Small Businesses in Making Tax Digital

Posted by on February 28, 2017 at 12:35 pm

Form the next tax year, smaller businesses are encouraged to keep digital records of their financial information such as income and expenses. A survey of accountants reveal nearly half of them think that this will cost small businesses somewhere between £200 and £500 and 27% think that it would be between £500.00 and £1000,00 while […]

VAT – Planning for Uncertainty

Posted by on August 8, 2016 at 11:08 am

The doubt has increased since the Brexit if the government and the business plans for the future has an effect on VAT. The tax was introduced in 1973 and is a relatively young tax in UK terms. But VAT has wound its way into the system with ruthless efficiency. Now that the Referendum happened and […]

Important Announcements from the 2014 Autumn Statement

Posted by on December 5, 2014 at 12:58 pm

So, how this year’s autumn statement would affect you. Here are some important announcements from the autumn statement that was presented this week. Tier system introduced for stamp duty. Under the old stamp duty rules, you would need to pay stamp duty Tax at a single rate on the entire property price. However, under the […]

More Regulations for the CIS Industry

Posted by on October 3, 2014 at 11:54 am

Contractors in the CIS (Construction Industry Scheme) usually file tax forms online, but now the HMRC proposes that the employers need to do an electronic check that sub-contractors are paying the right amount tax. This suggestion has been made with the objective of increasing the tax revenue received from the CIS scheme, which has largely […]

Digital Tax Dashboard of HMRC

Posted by on September 26, 2014 at 11:52 am

Three major tax related functions of HMRC are about to get a new digital makeover. Reports suggest that these new digital services are progressing through user testing in preparation for potential release to the public in the next year. The newly designed business tax dashboard, now known as Your Tax Account (YTA), PAYE for employees […]

Legitimate Income Shifting

Posted by on March 20, 2013 at 10:49 am

Losing your job is a financial disaster for anyone. If it has happened to you or your spouse, how can you use the tax system to soften the blow? If your partner loses their job, they may also lose the benefit of their tax-free personal allowance, which currently stands at £8,105. But there are ways […]

Boosting Your Pension Entitlement

Posted by on March 6, 2013 at 10:01 am

There are situations where planning a tax and NI is an efficient way and becomes important to draw income from your pension. However, you need to think long term before doing this. If your business can justify the fact that paying a low salary to your spouse, is it worthwhile doing this, given the extra […]

Can a Stock Valuation Save you Tax?

Posted by on February 6, 2013 at 10:56 am

At the end of each financial year, one needs to value its stock for accounting purpose. But this is a tedious exercise and not many people like to do it. But there are ways where you can you turn this into an opportunity to save corporation tax? You may not realise, but your company has […]

Is all the Anger on Tax Avoidance Justified?

Posted by on January 31, 2013 at 10:29 am

Most of the UK’s larger businesses have made a significant contribution to the public purse despite adverse economic conditions and public outcry over multinationals using complex tax structures to avoid paying tax. Global companies including Amazon, Google and Starbucks have attracted public ire over their corporation tax bills, but a study by PwC has found […]