BLOG

January 2018 Tax Insider

Tax, Tax Insider l

Included in this months article:

– Businesses getting to grips with apprenticeship levy
– R&D investment grows to £23.7bn in 2016/17
– OTS calls for inheritance tax system to be digitised
– Critics urge delay in rollout of MTD

Read The Full Article Here

National Insurance Planning

National Insurance l

National insurance contributions (NICs) are set aside to pay the state pension and other benefits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, with the state pension taking up more than 90% of its annual outlay in 2018.

Read The Full Article Here

Outsourcing Payroll

Payroll l

Does it make sense for your business?

Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll.

Read The Full Article Here

December 2018 Tax Insider

Tax l

Included in this month’s article:
– Annual investment allowance to rise to £1m
– Small retailers get business rates boost
– IR35 reforms to be extended to the private sector
– Higher-rate earners hit by national insurance rise

Read the full article here

Planning your estate: wills

Law l

Most people don’t like to think about their own mortality, but planning for the future is important to ensure your property, money and possessions are distributed the way you intend.
Writing a legally valid will is an essential part of this, and can provide peace of mind for you and your loved ones.

Read the full article here

VQOTW: VAT VOUCHER CHANGES

VAT l

My clients own a hair and beauty salon and have recently started to issue their own gift vouchers. I understand that the VAT treatment depends on the type of voucher, and also that there have been some recent changes. Please, could you clarify?

HR EXPERT: WRONGLY CLASSED AS SELF-EMPLOYED

HR l

My client has heard several stories in the news about ‘workers’ being owed compensation after being wrongly classed as ‘self-employed’. How can they be sure they have got the employment status of their own staff correct?

VQOTW: SALE OF BUSINESS ASSETS

VAT l

My client is changing his business policy with respect to vehicles so that in future vehicles will be leased on contract-hire instead of owned by the company. Several employees are interested in buying the old vehicles. Will he need to charge VAT on the sale of those vehicles to the employees?

Deregistering for VAT

VAT l

These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold.

Limiting your ambition in this way might seem counter-intuitive – surely you want your business to get as big as possible?

Starting a business

Businesses l

Britain is a nation of fearless entrepreneurs, but the likes of Richard Branson and James Dyson didn’t go from rags to riches instantly.

Branson needed a £300 loan to get his magazine up and running after dropping out of school at the age of 16, while Dyson produced 5,167 prototypes before inventing his vacuumless dust-buster.

November 2018 Tax Insider

Tax l

This months edition includes:

– Most small businesses receive funding boost
– Small firms not ready for no-deal Brexit
– Budget 2018: Tax and business round-up
– Government announces apprenticeship levy reforms

TQOTW: PROFESSIONAL GAMBLING

Tax l

My client’s son is a professional poker player and wins around £4,000 a month from playing poker. This is all he does and has no other earnings. Are the winnings taxable if playing poker is his profession?

HR EXPERT: TIPPING WAITERS

HR l

My client has heard that the law on dealing with tips is going to change. He runs a restaurant and currently passes on only 75% of tips to the employees. Will he be able to carry on doing this?

VQOTW: WHAT DO HMRC MEAN BY TAXABLE TURNOVER FOR MAKING TAX DIGITAL

VAT l

My client works through her own limited company, providing public relations and marketing consultancy to businesses in the UK and all over the world. The business is VAT registered in the UK on a voluntary basis; is she going to be affected by Making Tax Digital?

TQOTW: PENSION CONTRIBUTIONS

Tax l

My client takes most of their funds from the company via dividends. How much can they and/or the company contribute to their pension?

VQOTW: AGRICULTURAL FLAT-RATE SCHEME

VAT l

We have a client who runs a plant nursery and claims that he is exempt from registering for VAT as the business falls under market gardening. I have searched HMRC’s website but can find nothing on this subject. Is he correct?

October 2018 Tax Insider

Tax l

This months edition includes:

– Apprenticeships fall 31% in the last academic year
– Chancellor mulls abolishing dividend allowance
– Treasury shelves plan to scrap class 2 NICs
– IPPR leads call to replace inheritance tax system

Read the full article here

Using pension funds in your business

Businesses, Pensions l

As traditional loans fall out of favour with increasing numbers of business owners, you may be looking for an alternative route for financing – and your pension could be the answer.

Data from the British Business Bank shows that in 2017 the number of small businesses seeking traditional bank loans reached a record low of only 1.7%.

Read the full article here.

Next Page »« Previous Page