There have been some pretty significant changes to capital allowances recently, and it’s important to consider these when making investment decisions.
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Tax
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.
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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.
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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?
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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.
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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.
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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.
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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.
Continue ReadingSet a reminder..your tax return is due by 31 January.
With the summer behind us, and the arrival of autumn's shorter days, we've started thinking and planning ahead.
Christmas is on the horizon and so also, inevitably, is the 31 January midnight deadline for filing your online Self Assessment tax return for the tax year ending 5 April 2017.
Continue ReadingResearch & Development relief: Are you an Innovator?
There is a variety of tax reliefs available to small companies which are advocated by HMRC and can be used to save tax through clear and authorised methods. One such scheme is Research and Development (R&D) tax relief. This is a government incentive designed to encourage innovation by UK businesses. R&D tax relief can be equivalent to up to 33p for every £1 spent on qualifying expenditure.
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