NEW YEAR RESOLUTIONS TO SAVE TAX At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5th April. An obvious tax planning point would be to maximise your ISA allowances for the 2018/19 tax […]

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Christmas is the time for giving Those thinking about making gifts at Christmas should take advantage of the various inheritance tax (IHT) exemptions and reliefs available to them. Note that certain gifts can also have capital gains tax (CGT) implications.   THE IHT ANNUAL EXEMPTION – USE IT OR LOSE IT! Although not particularly generous […]

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The Basics of Limited Company Tax As a new business owner of a limited company, understanding Limited Company Tax plus any tax obligations is critical to your daily operations. When setting up your limited company you will encounter various types of tax, however don’t let dealing with these deter you. Owning your own company can […]

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MORE MONEY FOR NHS AND AN END TO AUSTERITY? As previously announced, these were the main themes of the Chancellor Phillip Hammond’s third budget but what we were waiting to hear was where the extra money was going to come from? Had he found a “Magic Money Tree”, or would tax and borrowing have to increase? We now […]

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The Budget yesterday had all the potential to be a fairy tale, but no! The annual forecasts are set to rise, more people are forecast to be in jobs by 2022, meaning the tax receipt projections are up, making more spending possible! For Business Philip Hammond put the focus on building business in the 2018 […]

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Many small business owners can often feel that there is never enough time, money, and human resources to allow time for staff training, which is one of the most important ingredients required for your business to succeed. When you invest in training, you can ensure that everyone on your team has a very good understanding […]

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CLASS 2 NICs TO CONTINUE FOR SELF-EMPLOYED In 2016 the government consulted on a proposed abolition of Class 2 National Insurance contributions (NICs) for the self-employed. This flat rate contribution, currently £2.95 a week is payable by the self-employed in addition to Class 4 contributions based on the level of profits. The flat rate contributions […]

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How to expand your small business internationally As a small business, it may seem like a huge step to even think about opening yourself up to the global markets and expand. However, if you’re looking to succeed and grow, then you will need to get prepared for the challenging road ahead. The UK will appear […]

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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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