April 26, 2019July 12, 2024 Frost Wiltshire

Tax Free Childcare – don’t miss out!

Many people have come across childcare vouchers in their employment – essentially, this is where an employer can ‘award’ vouchers which are paid tax and NIC free.

However, HMRC have been intending on abolishing this scheme for some time, recognising the lack of equality between employed and self-employed individuals in this area, and the old childcare voucher scheme is now closed to those who were not in it already.

The alternative to this is called ‘Tax Free Childcare’ and is in theory much simpler to administer than the old childcare voucher scheme.

April 2, 2019July 12, 2024 Frost Wiltshire

Hey Big Spender!

There have been some pretty significant changes to capital allowances recently, and it’s important to consider these when making investment decisions.

March 28, 2019July 12, 2024 Frost Wiltshire

Happy New (Tax) Year!

With the tax year end fast approaching, it’s time to ensure that your tax adviser is working with you to mitigate your liability as far as possible.

There are some very simple tax planning opportunities which can be quickly and easily implemented to make savings.

January 28, 2019July 12, 2024 Frost Wiltshire

Getting your structure right

Starting your own business can be an exciting – but daunting – time. One of the first and most important decisions to make is how are you going to structure your business? The reason this decision is so important is that it has a variety of consequences – not only related to tax, but also from a legal and administrative perspective, and how your business will be perceived.

January 23, 2019July 12, 2024 Frost Wiltshire

New Year, new start?

As per our recent blog post, the deadline for filing self-assessment is 31 January 2019. Once this is completed for the year and out of the way, it is a natural time to reflect on the service you have received from your current accountant. Many potential clients we speak to are keen to change accountants for various reasons, but fear that it will involve too much hassle. However, be assured that there is very little administration for you at all.

January 11, 2019July 12, 2024 Frost Wiltshire

Making Tax Digital is coming…

The prospect of Making Tax Digital (MTD) for businesses can be a scary one. There is much in the news about the administrative burden that this could become on sole traders, companies and landlords alike.

So what exactly is MTD for businesses, and where are we with progress?

January 10, 2019July 12, 2024 Frost Wiltshire

Time to stop self-indulging, and think about self-assessment!

Now that the Christmas and New Year celebrations have drawn to a close, it’s time to start thinking about less exciting things - like tax.

December 19, 2018July 12, 2024 Frost Wiltshire

Christmas season – a chance to gobble up some tax benefits

There are many ways to reward employees in a tax efficient way, and even though some of these can be complex, such as share option schemes, there are other ways of providing tax efficient or tax-free benefits which are very simple and often overlooked.

June 26, 2018July 12, 2024 Frost Wiltshire

Reduce your liability for 31 July 2018

We are fast approaching 31 July, which marks the date when the second payment on account for those taxed through self-assessment becomes due.

April 9, 2018July 12, 2024 Frost Wiltshire

Research and Development – it’s not all lab coats and test tubes

Have you come across Research and Development relief (R&D) before? If you own or run a company, this relief could be hugely advantageous to you.

HMRC are really keen right now to help companies in developing new and exciting products; these range from anything to developing mobile phone apps to creating a new part for a bike; if the product is new and innovative, it could be eligible for this relief.