National Insurance exemption

Jun 20, 2017

Employers, or more specifically, the persons in charge of processing their payroll, are hopefully checking the box to claim the National Insurance Employment Allowance (EA)?

The EA reduces the…

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Making the most of opportunity

Jun 15, 2017

There are a number of ways that director shareholders of private companies can withdraw funds from their businesses. We have listed below a number of options, the list is not exhaustive, but the points…

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Oh what a night

Jun 13, 2017

It is fair to conclude that Mrs May’s ambitions suffered a set-back Thursday last week. She is now attempting to manage a minority government, and Brexit apart, there are other outstanding legislative…

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Recovery of VAT after deregistration

Jun 08, 2017

Last week we discussed in this blog, how to recover VAT paid prior to registering for VAT.

This week we are going to sketch out the reverse position: how to reclaim VAT after you have deregistered.

According…

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The hidden tax on car benefits for employers

Jun 06, 2017

Businesses that provide employees with taxable benefits: company cars, health insurance and so on, will be aware that a benefit in kind charge is added to the employee’s income and subjected to an income…

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Tax due next month

Jun 02, 2017

Are you self-employed? If you are, you may need to make your second payment on account for 2016-17, due date for payment is 31 July 2017.

This second payment on account will have been based…

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What happens if you can't pay your tax on time

Jun 02, 2017

Following on from the previous article, we thought readers might be interested in the consequences if they fail to pay their Self Assessment tax on time.

If you are facing cash-flow issues,…

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When does a hobby become a trade

Jun 02, 2017

An example may illustrate the answer to this question.

Harry updates his iPad and decides to sell his old one – he does not use the iPad for his employment or any business, it’s used purely…

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Claim back pre-registration VAT

Jun 02, 2017

It is possible to reclaim VAT you have paid on any business purchases before you have subsequently registered for VAT. In fact, once you have registered your business for VAT the first thing you should…

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