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We like to keep ahead of the curve wherever we can – whether that’s technological advances, legislation, or just what’s happening in accounting. Then share it all as free advice on our blog page.

View A Check List For GDPR In 2018

A Check List For GDPR In 2018

You Have To Comply With GDPR As of 25 May 2018, businesses that store the personal data of staff, customers, suppliers and business contacts has needed to comply with the General Data Protection Regulation (GDPR). Basically, you will need to know what personal data you keep, where you keep it, who you share it with…

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View Tax Return Submitting Rules

Tax Return Submitting Rules

When it comes to Tax Return rules, you probably asking one thing. Should you or shouldn’t you? Well, we’ll give you some tax return advice. According to HMRC, you are required to send in a tax return in the last tax year if: you were self-employed – you can deduct allowable expenses you got £2,500 or…

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View Private Pensions Tax Relief

Private Pensions Tax Relief

There was much speculation prior to the budget last month, that the tax relief for higher rate tax payers was going to be scrapped, or reduced. Many pundits were expecting a flat-rate tax deduction of 33% rather than tax relief for higher rate taxpayers of 40%. Fortunately, for those who may have been affected by…

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View Company Capital Gains Relief Is Frozen

Company Capital Gains Relief Is Frozen

Before the Autumn Budget, the capital gains tax (CGT) calculations of companies included a relief called the indexation allowance. Basically, this allowed a company to increase the acquisition cost of an asset by the annual rate of inflation. Without this relief, any CGT payable on the sale of the asset would increase. Instead of deducting…

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View First Time Buyer Bonanza

First Time Buyer Bonanza

HMRC have laid out the detail of their budget plans to support first time home buyers in their quest to buy their first home. There are fears that this strategy will simply drive up prices as demand is stimulated, and that this will replace stamp duty savings with house prices that once again move beyond…

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View End Of Year Tax Planning – It’s Time

End Of Year Tax Planning – It’s Time

We are moving closer to the end of the current tax year – 2017-18 – and as we have mentioned in previous posts on this blog, the opportunity to take advantage of perfectly legal tax planning opportunities expires once the year end date passes: 5 April 2018. To capitalise on these opportunities, we need to…

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View Check That Your Bank Deposits Are Protected

Check That Your Bank Deposits Are Protected

The Financial Services Compensation Scheme (FSCS) is the place to go if your bank or other regulated organisation is unable to pay claims against it. For most this means our deposits with banks authorised to hold deposits by the Financial Conduct Authority (FCA and the Prudential Regulation Authority (PRA) will be able to recover funds…

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View Small Businesses Could Be Drawn Into The VAT Net

Small Businesses Could Be Drawn Into The VAT Net

The Office of Tax Simplification (OTS) published a report setting out a range of proposals for simplifying VAT. According to them, the tax is showing its age. What was meant to be a simple tax has become highly complex and it has not kept pace with changes in society. The biggest issue identified in the report…

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View If You’re Paying Tax in Jan 2018, Read This

If You’re Paying Tax in Jan 2018, Read This

If your business is a limited company, and your tax year ends 31 March 2017, any corporation tax due for that year is payable 1 January 2018. Unlike your self-employed counterparts – see below – no payments on account are required for 2017-18. If you are a self-employed business person, sole trader or in partnership,…

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