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“Owner-managed

Are you aware of the tax implications when taking on a second job?

Have you thought about taking on an extra job during the COVID – 19 pandemic? Perhaps you have been put on furlough and have spent time thinking of innovative ways to start a side business, to pass some time and inevitably save up some money, for when life returns to normal. 

Tax Diary February/March 2020

February 2020 - Due date for Corporation Tax payable for the year ended 30 April 2019.

Loans to directors and staff

If a company makes loans to its employees (including directors) there may be tax consequences. The same may also apply to loans extended to their family members.

Current challenges in the retail industry make banks reluctant to lend to small retailers

Bank lending to small and medium sized retailers in the UK has fallen 6% from £15.6bn* to £14.7bn since the Brexit vote in 2016, meanwhile large retailers have benefitted from a sharp rise in bank lending, says accountants and business advisors, Moore.

Construction drawn into VAT reverse charge process

It would seem, that HMRC is keen to plug the apparent drain from VAT receipts when contractors and sub-contractors charge their customers VAT and then go missing, keeping the VAT for themselves. This is described in legislation as “missing trader fraud”.  

Construction drawn into VAT reverse charge process

It would seem, that HMRC is keen to plug the apparent drain from VAT receipts when contractors and sub-contractors charge their customers VAT and then go missing, keeping the VAT for themselves. This is described in legislation as “missing trader fraud”.  

HMRC errors on tax calculation 2016/17 for self assessment

Many of you may have seen the recent press regarding HMRC’s calculation errors when it comes to income ta payable for individuals in 2016/17.

HMRC errors on tax calculation 2016/17 for self assessment

Many of you may have seen the recent press regarding HMRC’s calculation errors when it comes to income ta payable for individuals in 2016/17.

Building a Great Britain fit for the future

The headline for the Autumn 2017 budget was building a Great Britain fit for the future, creating jobs, preparing for a digital age and supporting families. With the surprise of the day being the abolition of stamp duty (up to £300,000) for first time buyers.   

Building a Great Britain fit for the future

The headline for the Autumn 2017 budget was building a Great Britain fit for the future, creating jobs, preparing for a digital age and supporting families. With the surprise of the day being the abolition of stamp duty (up to £300,000) for first time buyers.   

'House prices are increasingly out of reach for many'

Today marked the first Autumn Budget in 20 years and some may say that it was the ‘most important’ of Philip Hammond’s tenure as the Chancellor. It followed in similar suit of the last Budget, with a substantial focus on the UK property market and the governments bid to tackle the need for affordable housing.  

'House prices are increasingly out of reach for many'

Today marked the first Autumn Budget in 20 years and some may say that it was the ‘most important’ of Philip Hammond’s tenure as the Chancellor. It followed in similar suit of the last Budget, with a substantial focus on the UK property market and the governments bid to tackle the need for affordable housing.  

Paying self-assessment tax by instalments

If you file your 2016-17 self-assessment tax return on or before 30 December 2017, you can elect to spread the repayment of any underpayment of tax for 2016-17 to the tax year 2018-19. This is done by amending your tax code for 2018-19 such that any arrears are repaid by increasing your tax payments each pay period.

Paying self-assessment tax by instalments

If you file your 2016-17 self-assessment tax return on or before 30 December 2017, you can elect to spread the repayment of any underpayment of tax for 2016-17 to the tax year 2018-19. This is done by amending your tax code for 2018-19 such that any arrears are repaid by increasing your tax payments each pay period.

A true Halloween horror!

For many, when they think of what occurs on 31st October they think of Frankenstein, trick or treating, ghosts and pumpkins….. but for some the answer is PAPER TAX RETURN DEADLINE!

A true Halloween horror!

For many, when they think of what occurs on 31st October they think of Frankenstein, trick or treating, ghosts and pumpkins….. but for some the answer is PAPER TAX RETURN DEADLINE!

Are owner managed businesses missing out on public sector contracts?

The UK public sector spends around £200bn per year, on the procurement of both goods and services from third parties, but it is believed that not enough of this is with the owner managed businesses (OMB's).

Are owner managed businesses missing out on public sector contracts?

The UK public sector spends around £200bn per year, on the procurement of both goods and services from third parties, but it is believed that not enough of this is with the owner managed businesses (OMB's).

Will Britain be the best place to start and grow a business?

Making Tax Digital (MTD) for business? Q. Who will benefit from the deferral on MTD?A. If you are under the current VAT threshold of £83,000 the deferral until April 2019 will give sole traders, small unincoroprated businesses and landlords, a further year to prepare.

Will Britain be the best place to start and grow a business?

Making Tax Digital (MTD) for business? Q. Who will benefit from the deferral on MTD?A. If you are under the current VAT threshold of £83,000 the deferral until April 2019 will give sole traders, small unincoroprated businesses and landlords, a further year to prepare.