This week , the chancellor Jeremy Hunt delivered the government’s tax and spending plans for the year ahead. Below I have summarised the key points for small businesses and individuals. National Insurance reform for the self employed- Abolished Class 2 National...
Which of the two structures is likely to give the best tax result? Summary How is a sole trader taxed? Pays income tax and class 4 NICS on his/hers taxable profits from trade. In addition, the individual pays Class 2 NICs. How is companies taxed? Companies are liable...
Do you spend alot of time sending manual documents (Invoices, receipts etc.) to your accountant? The solution is to use a Data Capture Software like ‘Hubdoc’. How it works- Snap a photo with the app Simply take a photo of your receipt, invoice or bill...
Its that time again and here we are looking at what we need to do about the P11D form. If you receive private healthcare, interest free loans (train season ticket loan), non-business entertainment/travel and company cars in addition to Salary, these are Benefits In...
Personal and Business Tax for 2023-24 6th April 2023 marks the start of the New Tax Year. I have put together this blog to highlight the main tax matters that affect individuals and businesses. Personal Tax, thresholds and allowances The Personal Allowance (amount you...
There are important dates in the UK Tax year to keep a track of , here is a handy reminder: Dates 2023-24 April 5th 2022-23 Personal Tax year ends April 6th 2023-24 Personal Tax year starts April 19th Deadline to submit PAYE final RTI report 2022-23 May 3rd Deadline...
