Payroll is a task for businesses using Pay As You Earn – but have our ever wondered whether to outsource payroll for your business? Outsourcing helps your business grow as…
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Paying tax is no one’s favourite job – so many people do what they can to reduce their bill either with tax planning, avoidance and even evasion! Most taxpayers will…
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Business Asset Disposal Relief is a kind of tax relief which allows company directors reduce Capital Gains Tax after disposing of an asset. Capital Gains Tax (or CGT) is a…
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The VAT bad debt relief scheme is welcome for many business owners but not everyone knows about it! In these current economic times, it’s sad to see that business insolvencies…
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Once registered for Value Added Tax, business owners need to understand how to submit a VAT return. VAT is a complex process and can take up a lot of time,…
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Plans to introduce Making Tax Digital for the self-employed and those filing self-assessment have been pushed back two years. And the threshold for those who must file their accounts digitally…
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HMRC is introducing new penalties for late VAT returns from January 2023. The new rules also come as the way VAT is calculated changes. Changes to the VAT system are…
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VAT must be paid on certain goods and services – which we’ve looked at before – but some people ask: What happens if you don’t register for VAT? You must register for…
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While Capital Gains Tax (CGT) sounds pretty obvious, it can often catch out some business owners, particularly sole traders. CGT is levied on profits made by individuals and trusts from…
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Most people in business worry about the taxman looking into their affairs. But how does HMRC make the decision to investigate the self-employed? Investigating sole traders may appear to be…
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