As a small business owner, paying yourself in the most beneficial way from a tax point of view is crucial. We are not talking about some crazy offshore tax avoidance …
How to plan for your ‘dividend tax’ bill
Are you paying yourself from your limited company with dividends? It’s often a tax-efficient method, but it’s not generally tax-free. So make sure you plan ahead and budget for the …
What happens if I make a mistake on my UK tax return?
Doing your own tax return can be pretty scary. There are hefty penalties if you get your tax return wrong, which is why we are writing this blog to help …
Happy New Tax Year! (2023/24)
Whilst this is a great (?!) accounting joke we do every year, it is also a fairly exciting point in the year for us tax geeks. The start of the …
Tax Saving things you can do before 5th April
The tax year end is approaching. You are looking for some last-minute tips to save some tax. But what to do? Help is at hand! By the end of this …
When do I need to do a tax return?
For new business owners knowing when you do a tax return is a worry. This short blog answers this question from a newly self-employed person’s point of view. As it’s …
What does tax deductible actually mean?
When speaking about your business with an accountant, you may have heard the phrase ‘tax deductible’ presented as a Very Good Thing. Well, the good news is, this part is …
Spring Statement 2022 – good news for small business owners?
The Chancellor Rishi Sunak took to the stage on 23rd March to give his Spring Statement. Over the years this has very much felt like a ‘mini budget’ and this …
Why your business will make less money from April – unless you act now
For most small business owners, their business will become less profitable, or even unviable, from April. The same could happen to you – unless you act now. The main reasons …
Happy (pre) tax year end! Stuff to do before 5th April 2022
In the lead up to the 5th April, (the personal tax year end), there are some items that you should think about if you’d like to maximise all of your …
National Insurance rise – why you could be worse off from 6 April 2022
During late 2021 the government announced that it would support further funding of the NHS and social care sector through the introduction on a new ‘Health & Social Care Levy’. …
Tax return penalties – good news for those struggling to get the return done by 31/1/22
If you have to complete a 2020/21 tax return, the standard deadline to submit your return is 31st January 2022. As this date is coming up quick, you should be …
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