by admin | Dec 26, 2018 | Limited Company, Uncategorized
After several recent tribunal cases on the subject HMRC have amended its guidance about whether a director has to file a tax return. The guidance now states that where all of a director’s income is taxed at source and there is no further tax to pay, they do not have...
by admin | Sep 6, 2018 | Accounting Issues, Landlord, Motor Vehicle
Landlords in the UK with an unincorporated property business can claim mileage rates to reduce the tax on property. The mileage claim is in the form of a deduction in transport expense, which can be used as an alternative to capital allowances based on actual costs...
by admin | Sep 6, 2018 | Accounting Issues, Landlord
The steady increase in house prices in the UK have made owning a property increasingly difficulty. That’s why a lot of individuals are jointly owning properties to earn rental income. Rental incomes are subject to tax, and this Due to rising house prices, joint...
by admin | Sep 6, 2018 | Accountants for Contractors
The UK government had introduced the IR35 tax legislation in 2000. The purpose of introducing the tax legislation was to determine the self-employment status of independent contractors. It was introduced to catch individuals who were gaming the tax system to avoid...
by admin | Sep 6, 2018 | self-employed accountant
The increase in self-employed individuals is one of the most remarkable stories of the British economy. There has been a 40 percent increase in solo traders since the past two decades. Around one in six individuals in the UK, today are self-employed. If you are one of...
by admin | Sep 6, 2018 | Accounting Issues, Limited Company
Setting up a limited company has many benefits. The foremost benefit is that you won’t be personally liable for debts and other liability incurred by the company. Moreover, you will be able to raise a large amount of capital to finance expansion activities of...
by admin | Sep 6, 2018 | Accounting Issues, Startup accountants
Starting a business is indeed challenging. However, the rewards are far greater that makes the endeavour well worth it. If you blend your vision with persistence and hard work, there is nothing that can stop you from making your startup a success. In this post, we...
by admin | Sep 3, 2018 | Limited Company
Audit exemption for private limited companies: You may not need to get an audit of your private limited company’s annual accounts. Most small private limited companies only need an audit if their articles of association say they must or the shareholders ask for one....
by admin | Sep 3, 2018 | Limited Company, VAT
Q: I am an IT consultant, operating through a VAT registered UK company. I am supplying consultancy services to another UK IT business. I have incurred hotel, travel and meal expenses, and charging these on to the company i am supplying services to. Can I treat these...
by admin | Aug 9, 2018 | Accountants for Contractors, Accounting Issues, Tax Issues, Tax Saving Tips
Many businesses make mistakes when filing VAT returns. This is understandable since the UK VAT system is complicated. However, mistakes in entering the wrong amount can be costly as it can not only result in paying a fine but also trigger a VAT investigation. To...
