This time last year, Phillip Hammond opened his big red briefcase and delivered some news that shocked small business owners across the country. Hidden among plans to increase ISA allowances and removing tax perks on buy-to-let properties, Mr Hammond revealed that from April 1st 2018, business owners who pay themselves in the form of dividends […]
When you start out a business, one of the first things you need to do is decide when you will pay yourself. As the business grows, you will also need to make this decision for your employees. Will you pay everyone monthly? Twice a month? Weekly? There are a lot of options out there, and […]
The life of a small business owner is hectic. It’s a never ending cycle of ups and downs, mistakes, victories, advice you wish you’d known sooner and processes you just never seem to get the hang of. For many business owners, this includes handling the finances of the business. Unfortunately, finance is the bread and […]
Did you know that there are now over 4.5 million private sector businesses in the UK? That’s businesses just like yours, that are privately owned and often run by one person, or a small group of people. The shares aren’t open to the public, and you run your business as you see fit. Most of […]
Yes, ladies and gents, it’s that time of year again when every accountant for miles around seems to be talking about nothing but getting your tax return filled in on time. While the deadline for physical submissions has been and gone, the online deadline of January 31st is almost upon us. And we’ve all heard […]
You’re a skilled tradesperson with a thriving business that you want to maintain and grow. But you’re not sure how. We all have out concerns about our business and how to stay on track with business revenue, taxes and expenses. And frankly, you have enough to do without adding accounting, bookkeeping, Vat, finances and payroll […]
If you are a self-employed business owner, you will already know that your business is going to incur a lot of costs. But you don’t have to bear those costs personally – you can deduct some of those costs from your businesses. This helps you work out your taxable profit, and means the expense comes […]
I know it seems a world away right now, but the deadlines for filing your self-assessment tax returns are coming up fast. In fact, if you still file by paper, you’ve only got 2 months to go! If you earn any money whatsoever outside of an employers PAYE scheme (so for example if you are […]
For decades, business owners have been subjected to paper based tax processes. The flurry of printing off forms to fill in and send off, worrying t at you’ve filled something in the wrong place or simply forgetting to put the forms in the post – the whole process is rife with pitfalls. But over the […]
If you’ve ever had any dealings with the tax man, or even if you just run a business of any kind, you will be very familiar with the reams of forms you are asked to fill in every year, especially around April. Among these forms is the P11D, the mandatory form required by HMRC from […]