Tax - Concept Accountancy

Sep 23

What happens if I don’t register to VAT?

By Mark Melville FCCA Advice, Company Directors, Limited company, Tax

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…

Sep 23

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What you need to know about Capital Gains Tax

By Mark Melville FCCA Advice, HMRC, Tax

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…

Sep 23

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How does HMRC decide to investigate the self-employed?

By Mark Melville FCCA Advice, HMRC, Self-assessment, Self-employed, Tax

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…

Sep 23

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New employers PAYE by Direct Debit plan

By Mark Melville FCCA Advice, News, Tax

Employers using PAYE can take advantage of a new variable Direct Debit payment plan from September 2022. At the moment, there’s a need to set up Direct Debits every month,…

Sep 23

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How do expenses and disbursements differ?

By Mark Melville FCCA Advice, Business Expenses, Tax

VAT returns can lead to sleepless nights – especially when there are confusing differences such as expenses and disbursements. While many people class each expenditure as the same thing, the two…

Sep 23

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What you need to know about claiming VAT back

By Mark Melville FCCA Advice, Tax

The way in which HMRC works is confusing for many business owners – and claiming VAT back is one of those baffling areas. Value Added Tax (VAT) is a complex…

Sep 23

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Is your limited company eligible for Employment Allowance?

By Mark Melville FCCA Advice, News, Tax

If you own or run a limited company you could qualify for Employment Allowance. This allowance reduces the amount of National Insurance that employers have to pay by £5,000 from…

Sep 23

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What you need to know about a director’s loan

By Mark Melville FCCA Advice, Company Directors, P11D, Tax

When your company is limited the money belongs to the business and you cannot just help yourself to funds. If you need money in addition to your salary or dividends…

Sep 24

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What to do if you’re struggling to pay your tax bill

By Mark Melville FCCA Advice, HMRC, Self-assessment, Tax

Many people submitting self-assessment returns maybe struggling to pay their tax bill. The 31 January deadline is difficult at the best of times, thanks to the Christmas break interrupting payments.…

Sep 24

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You must declare Covid grants on your tax return

By Mark Melville FCCA Business grants, Hacks, News, Tax

As the clock ticks towards the self-assessment return deadline, HMRC is reminding those people awarded Covid grants they must declare them. Anyone receiving some or all of the first three…

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What happens if I don’t register to VAT?

What you need to know about Capital Gains Tax

How does HMRC decide to investigate the self-employed?

New employers PAYE by Direct Debit plan

How do expenses and disbursements differ?

What you need to know about claiming VAT back

Is your limited company eligible for Employment Allowance?

What you need to know about a director’s loan

What to do if you’re struggling to pay your tax bill

You must declare Covid grants on your tax return

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