Blog

Self-employed and using your own car


October 3rd, 2017

There are two options if you use a car in your self-employed business for business and private purposes. You can buy the car through your business, claim a capital allowance, and write off the costs of running the car as a business expense, and in both instances, you will need to adjust your claims to […]


What can you do with tax losses


September 28th, 2017

Tax losses can arise due to a difficult trading period. They can also be created if you invest in qualifying equipment and you are able to set this cost against your trading profits – if the cost of the assets exceeds your profits you will have a tax loss. There are three ways you can […]


What is subject to Stamp Duty Land Tax


September 26th, 2017

Most of us are aware that we pay Stamp Duty Land Tax (SDLT), or the regional equivalents, when we buy a property, but that is just the tip of the iceberg. For example, if you give something of value in exchange for land or property, it will also count towards the chargeable consideration and therefore […]


New Data Protection Bill


September 21st, 2017

The Government has published the long-awaited Data Protection Bill that will incorporate most of the provisions set out in the EU General Data Protection Regulation. This will apply from 25 May 2018, and many businesses will need to update their data security arrangements to comply with the new regulations. The Bill will introduce safeguards to […]


Claiming for employment related expenses


September 19th, 2017

If you are employed, and this will include most directors, you can claim for expenses that you have paid for personally, to be set against your income liabilities for the relevant tax year. You must keep records of the amount you have spent and make a claim to HMRC within four years of the end […]


When is a replacement an improvement


September 14th, 2017

We are often asked by landlord clients to clarify the difference between a replacement item of furniture, furnishing, household appliances or kitchen ware, and a purchase that may be considered an improvement. The difference is critical, as from April 2016, the 10% wear and tear allowance was scrapped and the new Domestic Items Relief (DIR) […]


Tax free dividend squeeze confirmed


September 12th, 2017

The government reintroduced the remainder of the March budget last week, it’s the part that was held-over to accommodate the May 2017 general election. It confirms two items that will be of interest to smaller business owners. Firstly, that businesses with turnover below the current VAT registration threshold (£85,000 for 2017-18) will not be required […]


30 hours free childcare for working parents


September 7th, 2017

The Department for Education released the following press release last week regarding the new childcare support offer that commences from 1 September 2017. They said: Parents of three and four-year olds who have registered for a place will join the 15,000 families benefitting in the 12 areas of the country that introduced the offer early. […]


Tax Diary September/October 2017


September 5th, 2017

1 September 2017 – Due date for Corporation Tax due for the year ended 30 November 2016. 19 September 2017 – PAYE and NIC deductions due for month ended 5 September 2017. (If you pay your tax electronically the due date is 22 September 2017) 19 September 2017 – Filing deadline for the CIS300 monthly […]


Evidence of earning for mortgage purposes


September 5th, 2017

If you are a client, and registered to submit a Self Assessment tax return, we can provide you with a statement that you can use as evidence of earnings for mortgage purposes. If you are not a client, there are many ways you can obtain this data direct from employers and other sources. For example, […]


Take the next step, Call us Today
0800 043 9351