The blog

What's going on at the most interesting accountant for small businesses?

 

Tax Advice
04 Sep 2017
We look at the Option to Tax exploring when you should opt to reclaim input VAT on a building or development and how you can do so.
Tax Advice
25 Jul 2016
How can a small business owner reclaim the VAT paid on allowable business expenses clocked up while visiting other EU countries?
Tax Advice
22 Jun 2016
Following George Osborne’s decision to introduce a new 7.5% rate of dividend tax we consider whether dividends are still a tax-efficient option for small business owners.
Tax Advice
16 Jun 2016
HMRC has issued you with a tax refund - should you blow it all on a lavish holiday or reinvest it in your small business? Decisions, decisions...
Tax Advice
14 Jun 2016
With corporation tax set to fall to a record low of 17% by 2020, is now a good time to set up a limited company?
Tax Advice
08 Jun 2016
We know that keeping track of all tax rules can be hard, especially as we live in an increasingly global economy. Don't fear, that's why we're here. Your business could be hit by double taxation, make sure you are prepared.
Tax Advice
16 May 2016
The deadline for filing your self-assessment tax return may still be months away, but here are 5 reasons you should consider filing early.
Tax Advice
06 May 2016
Cost cuts have been made in the most recent budget by George Osborne, benefiting small businesses in the UK. But make sure you are aware of these stealth taxes.
Tax Advice
21 Apr 2016
What happens if a small business is unable to pay HM Revenue & Customs the money it owes?
Tax Advice
08 Apr 2016
New rules introduced in this tax year change the way tax on dividend is charged and could make it more expensive to trade as a limited company. How will it affect your business?
Tax Advice
10 Feb 2016
Valentine’s Day is round the corner so it’s time to stock up on your partner’s favourite chocolates and flowers. Sometimes a card is enough to say those three magic words, ‘I love you’, especially for married couples but if that just won't cut it and you're struggling to think of something orginal then you could turn to HMRC.
Tax Advice
05 Jan 2016
The festive season is over, the New Year fireworks have long since faded, so now it’s time for small business directors and sole traders to turn to the serious January business of the dreaded self-assessment tax return.
Tax Advice
28 Oct 2015
Changes in the tax rules mean many landlords will see their profits decrease. So how can they mitigate the impact of the removal of mortgage interest relief?
Tax Advice
Tax Advice
01 Dec 2014
There is a massive change about to take place for VAT registered businesses who supply cross border EC supplies of digital services to consumers. Make sure you're ready.
Tax Advice
11 Sep 2014
VAT can be tricky to understand when you’re a start-up or even if you’ve been in business for a while. We’ve written this article to make it clear and to help you ensure that you have the most effective set up for your small business.
Tax Advice
25 Feb 2014
1966 was the year UK celebrities ran for their lives as the whopping 95% supertax rate was imposed by Harold Wilsons Labour Government. Mick Jagger fled to France and John Lennon legged it to the United States while his Beatles comrades penned a song entitled the Taxman to express their disgust at the sky high charge but even now with the UK’s top tax band being less than half of that the subject of tax still raises hot debates amongst UK citizens. Here we take a look to see if we really are moaning for a reason, are we really are amongst the worst off when it comes to the most taxed earners in the world?
Tax Advice
10 Dec 2013
In these challenging economic times, it makes sense for small business owners to make sure that they aren't overpaying corporation tax. We've put together some tips which we have found useful when trying to keep tax to a minimum.
Tax Advice
10 Jun 2013
Distributing cash to small business owners through dividends is classically much more tax efficient than taking the same amount through salary, but is there anything else to watch out for?
Tax Advice
04 Sep 2017
With HMRC opening an ever increasing number of compliance reviews into the tax affairs of small business, Accounts and Legal now offer client a fixed fee Tax investigation Service. We look at why.
Tax Advice
09 Mar 2017
Here’s everything you need to know about National Insurance Contributions, the rates, the changes, who they affect and why.
Tax Advice
Tax Advice
16 Jun 2016
Every business owner has an obligation to ensure they pay the correct amount of tax to HM Revenue & Customs, but that doesn’t mean they should ignore legitimate tax breaks or fail to account for deductible business expenses.
Tax Advice
Tax Advice
09 Jun 2016
What can a small business do to reduce the risk of an HMRC tax investigation, and how can the business prepare in case the tax inspectors do come a-calling?
Tax Advice
26 May 2016
What is a dividend waiver, how is it used...and when should it not be used?
Tax Advice
11 May 2016
What is VAT and how do you register for it? Don't worry, we will tell you all you need to know.
Tax Advice
21 Apr 2016
From sandwiches to your home office, we reveal the ten top tax deductions for the owners of limited companies.
Tax Advice
08 Apr 2016
A lot of people have chosen to be self employed because of greater work life flexibility and the possibility for a quicker salary increase. But, is this trend changing?
Tax Advice
29 Mar 2016
Chancellor George Osborne has given the sharing economy a boost with a new tax allowance that could encourage more people to set up micro-businesses.
Tax Advice
18 Jan 2016
Which rate of Value Added Tax would a small business pay on Companies House charges?
Tax Advice
19 Nov 2015
With a number of similarities to PAYE, the Construction Industry Scheme (CIS) is a mandatory withholding tax from a self-employed construction subcontractor's payments and paid directly to HM Revenue and Customs on their behalf.
Tax Advice
21 May 2015
Your venture is growing and you haven’t had a weekend since you had the idea for the business. Perhaps it’s time to hire some staff, but do you know the legal and financial implications of becoming an employer? We explain your basic obligations in two short articles.
Tax Advice
Tax Advice
07 Oct 2014
VAT can be tricky to get your head around at the best of times but when it comes to the world of catering it’s a whole new kettle of fish.
Tax Advice
14 May 2014
It might have taken a judge 147 pages to describe what Gary Barlow and his Take That cohorts did wrong but in the eyes of the law in fact none of the charges were criminal. So what's the difference between tax evasion and tax avoidance?
Tax Advice
05 Feb 2014
With its soft sponge base, thin chocolate topping and tangy orange centre it would be hard to find someone in the UK who didn’t like the humble Jaffa Cake, well, unless you ask around the HMRC office that is. In 1991 the powers that be at HMRC tried to reclassify Jaffa Cakes as biscuits which would have pushed up the price by 20%. There was an outcry. How could the Jaffa “Cake” which goes from soft hard when stale, as opposed to a biscuit which goes from hard to soft when off, be victimised like this?!
Tax Advice
10 Jun 2013
In these times of austerity, tax free employee benefits are an interesting alternative to pay increases and great for improving employee morale.