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 […]

thrifty business tips
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 […]

make tax digital
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 on Sugary Drinks
Tax Saving Accountants

Tax on Sugary Drinks Backed by MPs

Tax on sugary drinks are being implemented to target childhood obesity in the UK, MPs say The Commons Health Committee has recently published a hard-hitting report, with compelling evidence which puts pressure on ministers, for the long-awaited 20% tax on sugary drinks to fight child obesity in the UK. The report claims “One-fifth of children […]

protecting the piggy bank
Tax Saving Accountants

Council Tax Affected By A Population That Lives For Longer

Local Government Association (LGA) warns that council tax bills are due to cost £200 more for Band D properties over the next five years as generations live for longer. Social care spending is predicted to exceed the available funding of £2.9 billion by 2020. Chancellor George Osborne has given extra fundraising powers to local authorities […]

hmrc negligence
Tax Saving Accountants

HMRC’s Customer Service Failure Results In Tax Return Fury And Confusion

Millions have been left in the dark regarding their tax returns, PAYE slips and other financial documents due to a huge amount of 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 39% of inquiries dealt with […]

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 spite of a higher National Living Wage, the Working Tax Credit cuts would mean 200,000 children, predominantly from working households, will […]

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. Meanwhile, […]

Copyright © Exists 2015 Stonehouse Accountants. All Rights Reserved.