SEED Enterprise Investment Scheme also known as SEIS tax breaks are worth at least 50% of your investment, but the downside of this is that your money will be tied up for some time. The question being raised in this article is for how long it will be tied before you can get your hands […]
If your business has been hit by a penalty from the Companies House just because, you sent your accounts late, can you take it as a tax deductible expense?. The answer is that fines and penalties cannot be taken into the tax deductible category unless they are being paid on behalf of an employee.
HMRC is extremely strict on matters relating to VAT. This applies especially if your company happens to be on the wrong side of VAT investigations. If so HMRC has a greater tendency to spot discrepancies than never before.
Income tax Personal allowance to be raised up to £9,205 from April 2013; this is a move according to the government that will make 24 million people £220 a year better off. But 300,000 more people will be drawn into the higher rate – 40% – tax band from 2013/14 as the threshold is brought […]
Having a website is almost a necessity for any business, but setting one up and maintaining it can be expensive. This article explains as to whether you can get can tax exemptions for developing and maintaining a website. Most businesses can claim a 100% tax deduction for some of the cost of setting up a […]
Every business owner has an objective in mind. Whether it is to increase the revenue, expand the market share or cut down on costs, a business owner needs to pay attention to the core revenue generating aspect of his business. Small business and start up business owners have many things to worry about from regulatory […]
The provision for depreciation is an accounting and tax term used to describe the calculation of the physical decline of fixed assets of businesses. Most fixed assets such as plants, equipment, furniture and vehicles decline in value over time as they are used and as they age. Hence, one needs to take into account the […]
The government is suggesting that every taxpayer should be given online access to their personal tax records. This is a recommendation outlined by the public consultation on making the tax system easier to understand. The other steps outlined include pre filled tax returns to people in the tax return system. All taxpayers will be sent […]
According to the reports coming out from HMRC, HMRC has more Self Assessment statements than usual to issue this year. Bearing in mind that these self assessment tax return forms are issued in July, this year HMRC has taken steps to issue some in August as well. If you are yet to receive your tax […]
Freehold Property A freehold property is where the owner has complete and absolute ownership of the land, and all buildings that stand on the land. There is no limit of time to hold the property like in the case of leasehold property. A freehold property lies with the titleholder unless they transfer it of their […]