Tax

Your Q3 2023 deadlines for the diary

Your Q3 2023 deadlines for the diary

Update your business diary with these Q3 2023 dates and deadlines. Keep on the ball and don’t miss any important filing and tax cut-off dates. #tax #compliance We’re always here to keep you up to date with the latest accounting, tax and compliance deadlines. Here are the forthcoming deadlines and cut-off points for Q3 of 2023 to add...

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Getting your personal tax in order before the year-end

Getting your personal tax in order before the year-end

With the tax year-end coming to a close, now is the time to assess your personal tax plan. We’ll help you review your wealth planning and minimise your tax liabilities. #personaltax #yearend As the tax year draws to a close, it’s important to think about your own personal tax situation and to make sure you’re maximising any potential...

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Book a tax planning conversation with us today

Book a tax planning conversation with us today

In turbulent times, talking about your tax planning is incredibly important. Book a tax-planning session to help you plan out your tax liabilities and keep the business in a positive cash flow position. #tax #accounting The days of deciding on a tax strategy at the start of the year and then forgetting about it are gone. As taxpayers...

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How much is our work taxed in the UK compared to other countries?

tax wedge

The OECD recently released its latest Taxing Wages 2022 report, and it’s interesting to see where the UK falls compared to other developed nations when it comes to tax. One of the purposes of this particular paper was to look at the impact of Covid-19 on how workers were taxed across 38 different nations – and it makes...

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The Basics of VAT That New Business Owners Should Know

pounds

Exciting times are ahead the moment you open your business. You have big plans and can’t wait to get them rolling. Before you immerse yourself in your plans, you need to sort out the important things first, including your Value Added Tax (VAT).  VAT is a consumption tax that is added to the cost of goods and services....

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Why you should outsource your bookkeeping

Bookkeeping

This is actually a really easy one to answer. If you had a leaking toilet would you fix it yourself or call out a plumber. Similarly, would you cut your own hair to try and save the cost of a haircut. Why wouldn’t you outsource your bookkeeping. Running a small business is hard and traditionally every small business...

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Quick Tips: Registering for VAT

When first setting up your business, there are multiple decisions to make – and a key consideration will be whether to register the business for Value-Added Tax (VAT), the tax that’s added onto the price of certain goods and services. When does VAT registration become mandatory? When your business’s turnover reaches £85k over any rolling period of 12 months,...

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Spreading your January self-assessment payment

woman looking at her laptop covering her face

As we start to recover from the worst effects of the Covid 19 Pandemic, many owners, directors and self-employed individuals remain concerned about having enough funds to pay their self-assessment income tax bill. The good news is that HM Revenue & Customs (HMRC) does have a facility for spreading out your income tax payments. HMRC’s ‘time-to-pay’ arrangement allows you to...

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Who can claim Business mileage and how much does HMRC allow?

Who can claim Business mileage and how much does HMRC allow?

When you are self-employed, as the director of your own limited company or a sole trader, claiming business mileage is essential! As an allowable business expense, claiming business mileage means you can reduce the amount of tax you need to pay. ‍Recording your business mileage and understanding the records you need to keep can be challenging for new business owners,...

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What is Making Tax Digital (MTD)?

Making Tax Digital is the government’s way of getting businesses to keep digital records and report them in real time. What this means is that you will no longer be able to keep manual records and just submit them with your tax return at the end of the year. Records will need to be kept digitally using accounts...

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