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Residence and domicile and the tax position
A large part of a person’s legal identity is based upon where they live at any one time and how long they will be staying there. If you stay in the UK for a prolonged period of time, you are going to be liable for tax at some point. The exact point and how much…
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Minimising Corporation Tax
A look at the strategies available to companies that are looking to minimise their corporation tax bill. The UK has one of the lowest rates of corporation tax in the developed world. Additionally the infrastructure of corporation tax reliefs available to any company or organisation based in the UK is one of the more…
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2016 – Making the most of your savings.
A guide on how to using your savings to improve your financial position. People often have a slightly misjudged opinion of their savings as a sedentary block of assets that only creeps forward at a glacial pace due to the interest it generates. The idea that an individual’s savings can be turned into a productive…
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The what, when, why and how of Self-assessment tax returns
At the end of the year, most people have other things on their minds than tax returns. It would be a stretch to say it’s an enjoyable experience, but getting self-assessment done and dusted as early as possible removes the stress of a last-minute submission and certainly makes the process more bearable. This guide will…
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Property tax
A guide to tax when buying, renting out and selling property. When the Chancellor George Osborne announced that he was curbing tax breaks for landlords in Summer Budget 2015, there was speculation that it would result in thousands of landlords selling up and getting out of the property business. This was because the changes would…
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Employee share shave schemes
A guide to the advantages, potential problems and types of share schemes available to employees. The number of businesses that offer employee share schemes has doubled since 2000, according to HMRC. Giving employees the chance to invest in their company can help an employer improve retention, attract staff and raise funds. For employees, there’s the…
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R&D tax relief
The government spends around 0.49% of GDP on funding research and development (R&D), prompting business groups to call for an increase to help increase growth.
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Forming a Limited Company
The number of private sector businesses has reached a new record of 5.4 million, the Department for Business, Innovation and Skills has announced. There are now 900,000 more businesses compared to 2010, while the number of businesses that employ people has also risen by 35,000 from 2014. Small businesses make up 99.3% of all businesses…
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Staff bonus and rewards
This article outlines some of the different ways employers can reward their staff and the tax implications of each approach. Seemingly as quickly as it came, another year is galloping off into the distance and people’s minds are beginning to turn to the festive holidays. Employers will want to show their staff that the year’s…
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Payroll
This guide looks at some of the common payroll problems and choosing payroll software. Running payroll is one of the less glamorous aspects of being an employer. However, it is often the mundane tasks that are the most crucial. Failing to pay your staff would quickly lead to a very unhappy workforce. While neglecting your…
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Top up your State pension ?
From 12 October 2015, eligible individuals will be able to begin topping up their state pension by up to £25 per week. The lump sum payments, known as ‘class 3A voluntary contributions’, can be made up until 5 April 2017 by those that are entitled to a basic state pension before 6 April 2016. For…
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Minimum wage increase from 1st October 2015
The adult rate of the national minimum wage (NMW) is set to rise by 20p to £6.70 on 1 October 2015. As well as the change to adult rate: the apprentice rate increases by 57p to £3.30 the rate for 18 to 20 year olds will rise by 17p to £5.30 those aged 16-17 will…
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Tax investigations
A guide to what to expect if you are the subject of an investigation by HMRC. Anyone who has experienced the difficulty of trying to get through to the HMRC helpline may think that it is an organisation too large and complex to do anything quickly. However, while it may seemingly lack the ability to…
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How dividends work
A guide to how dividend taxation will change from April 2016.
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Pension scams
Over-55s are the targets of repeated cold-calling and email scams offering fake pension opportunities.
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Online accounting
HMRC has revealed how it plans to introduce digital tax accounts over the course of the 2015/16 tax year.
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Best advice for your savings
A guide on how to using your savings to improve your financial position.
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Audits, fines and rule changes
This article looks at the accounts that companies need to keep.
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Auto-enrolment
Small businesses employing 40-49 workers will begin complying with their auto-enrolment duties from 1 August. The dates when businesses begin complying with auto-enrolment are known as staging dates. From this date employers are required to have enrolled employees onto a workplace pension scheme, written to staff members and signed the declaration of compliance.
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Entrepreneurs’ relief changes affect family businesses
Family businesses are being unfairly penalised by changes to entrepreneurs’ relief (ER), according to the Institute of Chartered Accountants in England and Wales (ICAEW) Tax Faculty.
