tax

Accounts Preparation on Cash Basis

Posted by on April 27, 2012 at 10:31 am

During the budget it was announced that the government is going to introduce simplified tax rules for business accounts preparation. What are the tax advantages that you think that you will be entitled to from these new tax rules?

Alternative Dispute Resolution for Small and Medium Enterprise customers

Posted by on April 27, 2012 at 10:30 am

HM Revenue & Customs (HMRC) is running an Alternative Dispute Resolution (ADR) trial, which provides Small and Medium Enterprise (SME) customers with an alternative way of resolving tax disputes in compliance checks.

How to Escape PAYE Penalties

Posted by on April 6, 2012 at 10:30 am

The general rule is that if you miss the PAYE deadline of the HMRC or break one of many established rules where a penalty applies HMRC will let you know immediately the penalty applicable. However, the new PAYE late payment penalties are somewhat different from the other penalties.

How to use Vouchers for Tax Savings

Posted by on March 30, 2012 at 12:24 pm

If you’re looking for a low admin benefit to be given to your employees, vouchers may be the answer. The range of goods and services you can provide this way is huge, making them more appealing to your employees.

Getting the Correct Tax Code

Posted by on March 23, 2012 at 10:30 am

The last two years has been a difficult time for the HMRC’s National Insurance and PAYE Service. Soon after its launch vast numbers of incorrect tax code numbers were sent out and it automatically issued thousands of demands for tax that people had no idea. After being stung by criticism, HMRC has become more proactive […]

What Counts as a Fair and Reasonable VAT Claim?

Posted by on March 16, 2012 at 10:30 am

Where you buy goods or services that are used only for business, the view of HMRC is that you can reclaim a fair and reasonable proportion of the VAT. But in some cases you can reclaim the entire amount.

Get to Know the Benefits from Tax Credits

Posted by on March 9, 2012 at 10:31 am

There are different benefits for people who work less than 16 hours a week and for people who work 16 hours or more. How will the tax credit be calculated based on hours or work? If you have more than one job, you should add the hours from both jobs together.However, if the number of […]

The Tax Advantages of Fixed Expenses Payments

Posted by on February 24, 2012 at 10:31 am

Reimbursing expenses to your employees the cost of their business travel etc. is tax and NI free. But is there a possibility of paying a fixed-rate allowance instead to make them better off.

Get Tax Deduction for Having a Website

Posted by on February 17, 2012 at 10:30 am

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 […]

Tax Relief for Buying Equipment for your Business

Posted by on January 31, 2012 at 6:41 pm

Strict rules apply in order to limit tax deductions that employees and directors can claim for work related expenses. The rationale behind tax deductions is that they must be incurred as part of doing the job, but there are exceptions, such as loan interest. Therefore you need to make sure as to what are the […]