2 weeks left to sign up for childcare vouchers
The childcare voucher scheme can save you up to £933 a year in tax and national insurance, and also reduces the employer’s national insurance bill.
Directors and Company Secretaries jump for joy:- How to get full National Insurance Benefits without paying for National Insurance
If you are employed and earning between £6,032 and £8,424 you are in the "Lower Earning Limit" (LEL). This gives you the full benefit of Class 1 National Insurance without paying National Insurance.
How can I follow a company at Companies House?
You can get free alerts whenever a company files a document at Companies House. You may wish to follow a rival, a prospective supplier, or even your own company.
Is it better to do an annual VAT return?
You only need to complete one VAT return per year, but there can be disadvantages for some businesses.
August deadline dates for HMRC and Companies House
If you are involved in the running of a Small Business you should take note of these key VAT, PAYE, Income Tax, National Insurance, Corporation Tax and Companies House dates for August.
How much tax do I pay if I am a Self Employed Dentist?
We often get asked by our self employed dental clients how much tax do I pay? See our profits matrix to find out.
July deadline dates for HMRC and Companies House
If you are involved in the running of a Small Business you should take note of these key VAT, PAYE, Income Tax, National Insurance, Corporation Tax and Companies House dates for July.
How much tax do I pay if I trade as a company?
We often get asked how much tax do I pay? See our profits matrix to find out.
How do I change accountants?
It is normally straightforward to switch accountants, but there are some issues to consider, such as what are you waiting for your old accountant to do, and how long will it take.
June deadline dates for HMRC and Companies House for Small Businesses
If you are involved in the running of a Small Business you should take note of these key VAT, PAYE, Income Tax, National Insurance, Corporation Tax and Companies House dates for June.
Give yourself a gift and save tax
A company can give gifts up to £50 in value to its directors and secretary, without creating taxable benefits. In other words, you can receive a gift from your company and reduce your corporation tax bill.
How paying rent for your home office can save you tax
This is a great tax tip on how to take funds out of your company with little or no tax to pay
May deadline dates for HMRC and Companies House
If you are involved in the running of a Small Business you should take note of these key VAT, PAYE, Income Tax, National Insurance, Corporation Tax and Companies House dates for May
When do Childcare Vouchers end?
The exact date on which the Childcare Vouchers scheme will now close to new applicants has not been announced yet, but it's expected it'll be around October.
How much tax do I pay if I am self employed ?
We often get asked how much tax do I pay? See our profits matrix to find out.
New tax year - changes that affect small businesses
Employers will see increases in pension contributions and minimum wage rates, and individuals will see changes to their tax bills.
April deadline dates for tax and Companies House
If you are involved in the running of a Small Business you should take note of these key VAT, PAYE, Income Tax, National Insurance, Corporation Tax and Companies House dates...
SmallBiz Accounts help out planting Trees at Churston Woods
1,500 diseased trees were felled in 2017 close to our office at The Grove and Ball Copse Churston, Brixham, Devon. Find out why we had to get involved in the replanting.
Your company can use the childcare voucher scheme for a wide range of kids activities
Provided the childcare or club is Ofsted registered, you can save tax if your company gives you vouchers or engages directly with the provider.
6 actions to save tax before 5 April
The tax year ends on 5 April. Here’s what you can do to save tax right now.
How do I appeal a late filing penalty for my tax return?
Almost 750,000 tax payers missed the tax return filing deadline of 31 January 2018. On 1 February HMRC will issue a default late filing penalty of £100 to anyone not filing on time. That’s a massive £75,000,000 in fines.
Why dentists may need to pay extra tax for their NHS pension
If you’re a dentist with an NHS pension, there may be an additional tax charge to pay if the value of your pension has increased over a certain amount.
On April 1st National Minimum and National Living Wage rates are changing
The government is increasing the National Minimum and National Living Wage rates on 1 April 2018.
Give Christmas gifts and save tax!
You can give gifts up to £50 in value to your employees, including directors, and reduce your corporation tax.
Personal Tax: File Your Tax Return By 30 December
You have until the 31 January after the end of the tax year to file your Return, but if you file by 30 December you may benefit from a cash flow saving.
Personal Tax: Making Payments on Account
If you are a business owner and taking dividends in excess of £5,000, are you prepared for the extra amount you may need to pay on 31 January 2018?
Salary scenario calculator
Find out your total wages bill including salary, national insurance and pension for one or more employees
How can I transfer my personal allowance to save tax if I am married?
One million small UK business face having to register for VAT
The Office of Tax Simplification’s VAT reform recommends a reduction in lowering the VAT registration from £85,000 to that close to the national average wage of £26,000.
Self-employed: The cash basis can reduce your tax bill
Class 2 National Insurance abolition deferred From April 2018 to April 2019
The government had previously announced its intention to abolish “class 2” national insurance contributions (NICs) for the self-employed in April 2018, but has now said it will delay the move for a year.
New Employers must set up a pension scheme
All new employers now need to set up auto enrolment pensions immediately
Xerocon London 2017
Xerocon is like Glastonbury for accountants, with better toilets.
Buy and sell Bitcoin - will I have to pay tax?
What tax would I pay if I buy and sell a cryptocurrency?
Low emission company cars
We take a look at the rules for company cars and how they are changing.
Making Tax Digital delayed until at least 2020
The government has accepted that the scope and pace of reforms should be delayed.
New rules for salary sacrifice
Benefits in kind will be taxed on their cash value if the employee has sacrificed salary
Chelsea beat Arsenal in prompt payments
Chelsea have already beaten Arsenal in the Creditsafe prompt premier league payment table. Will they be able to beat them again in the FA Cup final?
Annual tax charge on companies owning property (ATED)
The hidden tax charges know as The Annual Tax on Enveloped Dwelling (ATED) is the UK first effort as a wealth tax. The tax charge starts with property valued at £500,000.
Conservative manifesto: Theresa May's key tax policies for General Election 2017
With 20 days to go until the general election, the Conservative Party have launched their manifesto we look at the tax news announcement.
Income tax to increase in Labour's general election manifesto
Jeremy Corbyn said the Labour manifesto is a "programme of hope" with an extra £6.4bn to be raised from income tax.
Auto enrolment £42k fine
Johnsons Shoes Company fined a total of £42k for failing to set up a pension for their employees by their staging date.
Tax free childcare now available for children under 4
Parents can now apply for the new government scheme, where for every £8 that parents pay, the government will top up with an additional £2.
Genuine HMRC Contact & Recognising Phishing Emails and Texts
Updated Guidance from HMRC
HMRC has updated its gudiance on genuine HMRC contact and recognising phising emails. The guidance updated by HMRC on 12th April 2016 explains how to recognise geuine contact from HMRC and how to...
New Dividend Tax
New Dividend Tax. From 6 April 2016, those who receive more than £5,000 in dividend income will pay more tax. Any income over that amount will be taxed at 7.5% up to a total dividend income of £32,000.
Your Tax Code for 2016/17
Your tax code for 2016/17
The amount of tax you pay on your salary depends on the tax code issued by HMRC. With the introduction of the new dividend tax in 2016/17, HMRC are altering tax codes for those who take both a salary...
There is good news for employers taking advantage of the Employment Allowance as it’s increasing from £2,000 per year to £3,000 per year for 2016/17. This means that your employers...
VAT flat rate scheme: End of the line for limited cost traders
HMRC are making an alteration to the VAT flat rate scheme (FRS) categories to include a new ‘limited cost trader’. Businesses that fall within this category will be required to use a new FRS percentage of 16.5% from 1st April 2017.
Now its easier to be generous
Trivial benefits to employees are now exempt from tax under certain conditions
Your personal tax account
A useful way to understand the tax you pay and renew your tax credits
New legal requirements for small businesses
Annual Returns have been replaced by a new Confirmation Statement
Great news for small businesses - rate relief more than doubled