TIME TO DECLARE OFFSHORE INCOME GAINS AND ASSETS WARNS HMRC HMRC is urging UK taxpayers to come forward and declare any foreign income or profits on offshore assets before 30 September to avoid higher tax penalties. New legislation called ‘Requirement to Correct’ requires UK taxpayers to notify HMRC about any offshore tax liabilities relating to […]
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How to stay on top of your business finances One of the biggest headaches that many business owners come across is managing to keep on top of their finances. Business owners can find it extremely stressful managing the company finances, as their financial position, really can be the making or breaking point for many small […]
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MAKING TAX DIGITAL FOR VAT GUIDANCE ISSUED HMRC have now issued their detailed guidance on the digital record keeping and return requirements for Making Tax Digital (MTD) for VAT. VAT Notice 700/22 clarifies that spreadsheets may still be used to keep business records provided that there is bridging software that links to the Government gateway. […]
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NEW VAT RULES FOR BUILDING TRADE IN 2019 Under new rules due to come in on 1 October 2019 builders, sub- contractors and other trades associated with the construction industry will have to start using a new method of accounting for VAT. The measure is designed to combat VAT fraud in the construction sector labour […]
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Stand out from the crowd – how to differentiate yourself from competitors When you are starting – up in business it is important to be a bit different, being unique is a good thing and will help you stand out from your competitors within the market. You can create something different whatever you do be […]
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OFF-PAYROLL RULES (IR35) TO BE EXTENDED TO PRIVATE SECTOR WORKERS? As mentioned in the Autumn Budget, the Government has opened a consultation into a possible extension of the rules that currently apply to “off-payroll” workers in the public sector to the private sector. This consultation is being undertaken at the same time as the consultation […]
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Limited companies – what is share capital? So, what is shared capital within a limited company? Well, the easiest way to explain it is that it is the amount of money that is invested by the business owners which are exchanged for shares of ownership, typically the Company Directors will be shareholders in their business. […]
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Twitter is up there with Facebook and Instagram as one of the most popular social media platforms worldwide. In today’s digital world having an online Twitter profile is a must for small businesses, as this will help them reach out to an even larger audience. Currently, Twitter has around 330 million monthly active users, this […]
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CHANGES TO TERMINATION PAYMENTS Care is always required when employees are made redundant or payments are made on the termination of employment. Not only are there employment law considerations, there are also important tax implications and this is an area where professional advice is strongly recommended to avoid unnecessary pitfalls. The tax treatment of these […]
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With almost 2 billion monthly users (1.8 billion on mobile), Facebook is undoubtedly the largest social media platform today. Does it make sense for small businesses to have a company page on Facebook? Whether you’re B2B or B2C, the answer is yes, absolutely. A Facebook business page will help raise awareness of your business, drive […]
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