We’ve put together a three-minute film highlighting some of the business and strategies for tax planning that you should be thinking about for tax year 2017-2018. If you are a business, it’s imperative that you review your management accounts. You’ll find it tough considering the ways of saving tax without knowing your numbers. Bracey’s can,…
Cyber Security Hackers Are Rife In addition to the scam we blogged about a while back, we wanted to share a couple of stories about cyber security hackers that we’ve been hearing from our clients, after a cyber fraud scam that they’ve unfortunately fallen foul of. Our Client Was Hacked One of our clients was…
You want to pay your tax. Well, you have to pay your tax – but how can you do it? As we have previously reported, HMRC will no longer accept payment of tax using a personal credit card. Also, payments cannot be made at the Post Office. So how can you pay your tax? The remaining…
In most cases the National Minimum Wage is an obligation not a guide. There is a temptation to consider that the National Minimum Wage (NMW) and National Living Wage (NLW) rates are a guide to the amounts you should be paying employees. In fact, they are the minimum rates you should use (unless you are…
Organise your affairs sooner rather than later. The week before Christmas we posted an article stressing the value of checking out the tax consequences of investing in new plant and equipment. We stressed the importance of timing. But this is just one issue that should be considered before the end of the current tax year. Every business…
It’s all about the planning Vat Disaggregation may be a term you haven’t heard. So we’ll explain it here. There are many businesses that benefit from not being VAT registered. In the UK, there is no obligation to register until your taxable turnover exceeds £85,000. For many smaller businesses, especially those that buy and sell…
Unfortunately, the season seems to bring out the good and the not so good in human nature with a new scam that targets the vulnerable. Readers are advised to be wary of the following scam that is targeted at vulnerable and elderly taxpayers. The notice issued by HMRC says: HM Revenue and Customs (HMRC) is…
Timing is everything for the self employed as ee are fast approaching the end of the 2017-18 tax year. In fact, the 31 March (or 5 April) is probably the most common trading year end date for sole traders, partnerships and limited companies. And individuals have no choice, the self-assessment tax year ends on 5…
AKA: Can you claim back on drinks? Michele is a former HMRC Higher Officer who worked for HMRC from ‘88 to ‘16. She has the rare ability to explain to laymen and experts alike, in as simple terms or as detailed as her audience would like. She was recently asked a question regarding staff entertainment. Given…
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