Blog

Electric vehicles are not only cheaper to run day-to-day – there are funding and tax incentives that come with switching to 100% electric vehicles. Companies that equip themselves with electric vehicles enjoy significant cost savings. So, becoming more sustainable not only makes sense from an ethical point of view; it is also a smart business… Read more

Up until 3 March 2021 individuals who became self-employed in 2019/20 were not eligible for the First, Second or Third Self-Employed Income Support Scheme grants. However, in the 2021 budget announced on 3 March 2021, individuals who became self-employed in 2019/20 will be eligible for the fourth grant and fifth grant. Why SEISS pre-verification checks are… Read more

Big changes to the way contractors and those who work with them pay tax and National Insurance are coming this April. From April 2021, large and medium sized companies will need to check the employment status of their contractors where their services are being supplied through an intermediary, (usually a personal service company). You are… Read more

For over 1.5 million Brits, their future financial hopes and aspirations are pinned on holding property they don’t live in and letting out to others. In the 2017/2018 tax year, the average landlord owned between 1-4 properties each. For many landlords, it’s a family affair – they’ll own their property together with their spouse or… Read more

VAT bad debt relief allows businesses that have made supplies on which they have accounted for and paid VAT but for which they have not received payment to claim a refund of the VAT. It is quite possible within the VAT system for a business to be in the position of having to pay over… Read more

Airbnb is one of the ‘go-to’ places for affordable holiday accommodation and short-term lets. If you have a spare room it’s a great way of earning additional income; however, there are tax implications that you should be aware of. Our tax expert, Robert Salenius, provides some helpful guidance if you are thinking about becoming an… Read more

1. If your taxable income will be £50,000 or more for the current tax year 2019/209, you might consider paying a pension contribution before the end of the year to reduce your exposure to higher rate tax. 2. If you or your partner receive child benefit and you or your partner has taxable income over… Read more

Personal Tax Account Your personal tax account helps you to manage your tax affairs online. It’s safe, personalised, and brings together all your tax information in one place. You can set one up by following this guidance:- https://www.gov.uk/government/publications/your-personal-tax-account/your-personal-tax-account#how-to-access-your-personal-tax-account What you can do with your personal tax account You can: check and change your address see what… Read more

Making Tax Digital – What you need to know. The plan to make the UK tax system more effective, efficient and easier is in progress. Three million of the smallest businesses and landlords will be able to move to the new digital system for keeping tax records at a pace that is right for them…. Read more

Year End Tax Planning As the saying goes,”Tax need not be Taxing”, especially if you take time to plan for the year ahead. How do you ensure that you make the most of any opportunities to save paying more tax than you need to? Do you think you paid too much tax last year and would… Read more