Blog

In this section we publish financial articles that we hope you will find interesting and relevant. If anything you read here raises any question please do not hesitate to contact us.

20/07/2017 - Posted by Kevin Edenborough in Auto Enrolment, Salary Sacrifice, Tax saving

Opportunities to use salary sacrifice to reduce tax and NI are now very limited, but some arrangements are still possible. With changes to auto-enrolment on the horizon how can you take advantage?

19/07/2017 - Posted by Kevin Edenborough in HMRC, Tax saving

Landlords of residential properties are now facing tough restrictions on tax relief for borrowing, so if you're in that position there’s all the more reason to maximise other tax reliefs available on rental income. What hidden deductions might you be missing out on?

18/07/2017 - Posted by Kevin Edenborough in Tax saving

You probably know that charities and community amateur sports clubs can claim tax back on your donations if you tick the 'Gift aid' box. But did you know that these donations don't have to be in cash and also that if you are a higher rate tax payer you can claim further money off your tax bill following a donation? 

18/05/2017 - Posted by Kevin Edenborough in Dividends, Tax, Tax saving

The recent budget proposed a reduction in the tax-free dividend allowance from £5,000 to £2,000 with effect from 6th April 2018. Tax rates on the dividends remain at 7.5% or 32.5% above the higher rate threshold.  So what does this mean for the amount you might owe?

12/05/2017 - Posted by Kevin Edenborough in Tax saving

You want to provide your staff with clothing in keeping with your firm’s corporate image, but understand they count as a taxable perk unless conditions set by HMRC are met. How can you avoid a tax charge from arising?

05/05/2017 - Posted by Kevin Edenborough in HMRC

The HMRC can open an enquiry into your tax affairs for all manner of reasons. From a mortgage application where they might want to know the source of funds to a question about expenses claimed. The frustrating thing is that even if you have done nothing wrong, it is usually still a time consuming and occasionally frustrating process dealing with an HMRC enquiry and one we do have to charge for. However there is a way to protect against these costs.

08/03/2017 - Posted by Kevin Edenborough in VAT

With effect from 1st April 2017 the Government has introduced changes to the Flat Rate VAT scheme. The new rules will include a new rate of 16.5% for so called “limited cost traders” which will capture consultants and other VAT registered businesses that spend a small amount each year on expenses (which will exclude services and motor costs).

27/02/2017 - Posted by Kevin Edenborough in HMRC, Tax

The dividend tax came in on 5th April 2016.  As we approach the end of the 2016-2017 tax year, have you planned for and put money aside to cover tax on the dividends you have taken?

27/02/2017 - Posted by Kevin Edenborough in Auto Enrolment

The majority of staging dates for auto enrolment are between January and June this year.

If you haven't received notification yet, you can check your staging date online. Whatever you do, don't just ignore it as you do need to be ready when your staging date comes.

27/02/2017 - Posted by Kevin Edenborough in business growth

Everyone knows that an accountant can help you to submit personal and company tax returns and with such areas as company accounts and VAT.

But how else can an accountant help you with your business beyond ensuring you get everything required submitted on time?