Blog

18th September 2018

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. 


23rd August 2018

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.


16th August 2018

Dentally and Xero

We’ve just had a demo of Dentally and really liked what we saw!


15th August 2018

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.


14th August 2018

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.


1st August 2018

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.


17th July 2018

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.


29th June 2018

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.


19th June 2018

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.


19th June 2018

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.


31st May 2018

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.


8th May 2018

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.


1st May 2018

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


30th April 2018

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


4th April 2018

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.


28th March 2018

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. 


22nd March 2018

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.


20th March 2018

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...
 


15th March 2018

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.


13th March 2018

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.


6th March 2018

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. 


23rd February 2018

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. 


21st February 2018

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.


15th February 2018

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.


1st February 2018

February deadline dates for tax and companies house

 Key dates for your diary.


1st January 2018

Upcoming tax and accounts deadlines

 January deadlines to be aware of


14th December 2017

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.

 


12th December 2017

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.


5th December 2017

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?


1st December 2017

Upcoming tax and accounts deadlines

December deadlines to be aware of


28th November 2017

Salary scenario calculator

Find out your total wages bill including salary, national insurance and pension for one or more employees


28th November 2017

How can I transfer my personal allowance to save tax if I am married?

The government says two million families are still to claim for a transfer of their tax-free allowance.  They could be eligible for a gain of £662 part paid as a lump sum with an onwards reduction in their tax bills. 

15th November 2017

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.


7th November 2017

Self-employed: The cash basis can reduce your tax bill

You only need to declare money when it comes in and out of your business if you use the cash basis.  See in our example how a self-employed associate dentist lowers his tax bills and retains more of his Child Benefit payments.

7th November 2017

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.  


1st November 2017

Upcoming tax and accounts deadlines

November deadlines to be aware of


30th October 2017

New Employers must set up a pension scheme

All new employers now need to set up auto enrolment pensions immediately


28th September 2017

Xerocon London 2017

 Xerocon is like Glastonbury for accountants, with better toilets.


26th September 2017

Buy and sell Bitcoin - will I have to pay tax?

 What tax would I pay if I buy and sell a cryptocurrency?


12th September 2017

Free and Tax Free childcare

What you are entitled to and how to apply


1st August 2017

Low emission company cars

 We take a look at the rules for company cars and how they are changing.


14th July 2017

Making Tax Digital delayed until at least 2020

The government has accepted that the scope and pace of reforms should be delayed. 


28th June 2017

New rules for salary sacrifice

Benefits in kind will be taxed on their cash value if the employee has sacrificed salary


27th May 2017

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?


26th May 2017

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.


22nd May 2017

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.


16th May 2017

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.


11th May 2017

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.


24th April 2017

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.


13th April 2017

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...
 


15th March 2017

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.
 


15th March 2017

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...
 


15th March 2017

Employers Allowance

Employment Allowance

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...
 


3rd March 2017

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.


10th October 2016

Now its easier to be generous

Trivial benefits to employees are now exempt from tax under certain conditions


27th July 2016

Your personal tax account

 A useful way to understand the tax you pay and renew your tax credits


30th June 2016

New legal requirements for small businesses

 Annual Returns have been replaced by a new Confirmation Statement


13th June 2016

Gift Aid

 More for charity, less tax for you!


23rd March 2016

Rate Relief

Great news for small businesses - rate relief more than doubled

In the recent budget, the government has increased the threshold for small business rate relief from a rateable value of £6,000 to £15,000. This means<