Tag Archive

Budget 2017 – Key Points

Published on March 9, 2017 By admin

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 […]

Short and Long Term Effects of Brexit

Published on June 28, 2016 By admin

Short term effects Those who were longing for the Making Tax Digital and Digital Tax Accounts consultation will need to wait as there are now urgent and more important matters in hand. In the case of any emergency budget, there could be an increase in income tax and national insurance. Long term effects The separation […]

The Second Income Campaign

Published on November 21, 2014 By admin

The Second Incomes Campaign is a chance given by HMRC to bring your tax affairs up to date if you’re employed and have additional income that’s not taxed.   You can take this opportunity if, you’re an employee, you’re resident in the UK or you have additional income from working for yourself   What counts […]

A Tax efficient way to Reimburse Expenses incurred on Meals-

Published on April 5, 2013 By admin

If you employ staff who are on the move on a regular basis, you could reimburse them the cost of their meals while they’re out and about. But you have another option, where you could pay them a tax and NI-free allowance in exchange for them taking a little less in pay. This will be […]

Essentials on the New Annual Investment Allowance

Published on March 15, 2013 By admin

The new rules on the annual investment allowance apply differently to different businesses. The Chancellor’s announcement that the AIA, which allows a 100% tax deduction for expenditure on equipment for the accounting period of purchase, was to be raised to £250,000 from 01 January 2013. But the transition from the previous £25,000 limit always looked […]

Reporting Financial Performance

Published on October 5, 2012 By admin

Over recent years, there have been a few Answers to certain disclosures within the financial statements such as when ‘exceptional items’ are encountered and there is uncertainty as to how to disclose these. The standard, which controls the way by which the financial performance is reported, is that of FRS 3 Reporting Financial Performance. The […]

Small Business Accountants in Fulham

Published on September 7, 2012 By admin

Running a small business is never an easy task. Starting a small business is even worse. Apart from capital input, you also need to deal with a lot of regulations as well as endless administrative tasks. When you take all this into account, almost for the first three or four months you will be doing […]

Income Tax Trap for online Traders

Published on May 4, 2012 By admin

Finally HMRC has come to grips with those who sell certain products or used items on websites such as Gumtree and eBay. So who should be worried about these latest attempts of HMRC to earn some more money? Targeting online traders for tax Over the last few months HMRC has been busy trying to identify […]

Business Plan Template for Start Up Businesses

Published on December 2, 2011 By admin

It is essential to have a realistic, working business plan when you’re starting up a business to make sure the business growth is sustained over a long period of time.The task of making a business plan will be much easire if you have a business plan template ready. A business plan can be defined as […]

New Tax Warning Letters for Doctors and Dentists

Published on November 22, 2011 By admin

According to the latest press release by HMRC, about 2,500 doctors and dentists have been targeted by HMRC for possible tax evasion. The warning letters have already been prepared by HMRC and will be sending them in the near future. The alleged tax dodgers will have to pay their dues within 21 days or face […]