Blog
Do we need to register for VAT?
If you make taxable supplies for VAT, you will need to register for VAT if your taxable supplies exceed or will exceed the VAT registration threshold. Read this article to find out when you must register and how to register.
Extracting further profits in 2023/24
Read this article to determine whether it would be beneficial to take further profits from your personal or family company before the 2023/24 tax year comes to an end.
Making pension contributions before 6 April 2024
The ability to make tax-relieved pension contributions is limited by both your earnings and your available annual allowances. Read this article to help you assess whether it would be possible to make further tax-relieved contributions before the end of the 2023/24 tax year.
Register to payroll benefits in kind
Instead of reporting taxable benefits to HMRC on form P11D after the end of the tax year, employers can opt to deal with those benefits through the payroll (‘payrolling’). Read this article to find out how to register to payroll benefits in kind in 2024/25.
NMW from April 2024 – Make sure you comply
The National Living Wage and the National Minimum Wage are increased from 1 April 2024. Read this article to find out the new rates applying from that date.
Tax implications of buying a customer list
Read this article to determine the tax implications should your business buy another firm's customer list. #customerlistimplications
Are you ready for the change? Self-employed – Basis period reform
Read this article to find out about tax calculation changes for many self-employed and partnership businesses.
Common deductible business expenses
Read this article to find out what expenses you can deduct in computing your taxable profit. #deductibleexpenses #allowableexpenses
Tax relief for bad debts
Find out how to secure tax relief for bad debts by reading this article #baddebt #doubtfuldebt #cashbasis #accrualsbasis
Paying PAYE by recurring direct debit
Read this article to find out how to set up an on-going direct debit to pay your PAYE #PAYE #recurringdirectdebit
Should I change my accounting date?
There are some benefits and pitfalls to changing your accounting date. In light of MTD for income tax however, it might be time to consider it. Learn more about changing your accounting date in this article. #accounting #taxtips
Are you trading?
Are you trading? Read this article to find out. #trading #tradingallowance #badgesoftrade
Cycle to work tax-free
Read this article to find out how to make use of the tax exemption for employer-provided cycles to enjoy a tax-free commute #cycletowork
Relief for pre-trading expenses
If your company incurs costs before it starts trading, you can claim tax relief for these costs. In this article, you can learn which pre-trading costs are covered and how to claim the relief. #taxtips #businessexpenses
Tax relief for pre-trading expenses
Did you know that you can claim tax relief for revenue and capital expenses that were incurred in setting your business up? In this article you can learn more about pre-trading expenses. #businesstax #tadadvice
Are workers employees?
It is important to know whether a worker is employed or self-employed as there are many differences in the way in which they will be taxed.
Should I incorporate my business?
The question of whether to incorporate commonly arises as a business expands - the limited liability status that company formation provides is often needed to start winning contracts with bigger companies.
Tax-free Christmas parties
Whilst the tax legislation does not include a specific allowance for an employer providing a Christmas party for employees, HMRC do allow limited tax relief against the cost of holding a social function for employees, providing certain conditions are met.
Losses in the first years of trade
If a new business makes losses in its first few years of trading, there may be scope to carry back those losses and set them off against other income received in the years prior to commencement of the trade. This is commonly referred to as 'early trade losses relief' and it applies to losses sustained in the tax year in which a trade is first carried on, or in any of the next three years.