Tax Saving Accountants

Making Tax Digital (MTD)

You may have heard about the recent changes to the way VAT must be reported. In April 2019, HMRC introduced Making Tax Digital (MTD). The main change with this new piece of legislation is the way your VAT returns are filed online. If your company is turning over more than £85,000 you are now required […]

small businesses uses tax benefits to watch their money grow
Tax Saving Accountants

Tax Incentives for SMEs You Need to Know About

During the early development period, while establishing your Small to Medium Enterprise (or SME), every penny counts. You want to carve yourself an edge against competition in the industry as you fulfil a dream of owning a successful business.  It is, therefore, an intelligent approach to consider all the ways in which you may reduce […]

New Tax Year
Tax Saving Accountants

How will the new tax year affect you?

As of today (6th April 2018) the new tax year has arrived. With this bringing changes for millions of people, it’s important to understand how this will affect you. Changes to tax free income, pension limits and death duty are just a few that will come into place today. Most UK residents will also see […]

Allowable expenses
Tax Saving Accountants

Allowable expenses – Simplified for Business Owners

Understanding that you can’t subtract all of your self-employed expenses is imperative. HM Revenue and Customs (HMRC) has clearly stated what you can and can’t include, expenses that are eligible to be tax-free are known as ‘allowable expenses’. HMRC has defined allowable expenses to ensure that business owners understand that they can only take away […]

Tax Saving Accountants

Accounting Advice for Small Businesses

Helpful tips that every small business owner should know about. Accounting can be alien to many new and existing small business owners. It’s the side of owning your business that most people hate, managing books, finances, tax, VAT – it’s a hassle, but it doesn’t have to be… With a little discipline and a good system […]

Tax Saving Accountants

HMRC’s Negligence Regarding Incorrectly Filled Tax Returns

Millions left in the dark regarding their tax returns, PAYE slips and other financial documents due to unanswered HMRC phone calls In the first half of the year, the HMRC were only able to successfully answer half of all calls made to them. With 39pc of inquiries dealt with within five minutes. As a result, […]

Tax Saving Accountants

Tory Working Tax Credits Cuts will Leave you Worse Off

A new study was conducted by the Resolution Foundation think-tank, which was released the day after David Cameron promised an “all-out assault on poverty” at the Manchester Conservative Conference. The study found that in despite of a higher National Living Wage the Working Tax Credit cuts would result in 200,000 children, predominantly from working households, […]

Tax Saving Accountants

Labour Plans Tax Raids for a ‘Redistribution of Wealth’

Labour will soon be unveiling their plans for a “redistribution of wealth” with an attack on British business and a series of tax raids on the middle class. Shadow Chancellor John McDonnell will be using his first conference speech to talk about a potential “Robin Hood tax” when it comes to stock market trading. Chancellor […]

Tax Saving Accountants

Tax Break – UK Leads to £3bn Gas Project in the North Sea

Maersk is an energy group from Denmark and will be leading a £3bn project aimed at developing the largest gasfield which has been discovered in the North Sea for a decade. This is the first big investment which will be benefiting from the tax breaks in the UK which was announced in the Budget. The […]

Tax Saving Accountants

Thousands of Young Brits Could Be Hit by EU Migrant Benefit Plan

As the government negotiates its EU membership, plans to tighten the benefit rules for EU migrants is currently coming under the spotlight. One of the key parts of negotiations is a four-year residency test, however lawyers say that only applying a test to migrants would be a breach of EU laws. The government is now […]

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