YET ANOTHER CHANCELLOR – BIG CHANGES IN THE BUDGET? It will be nearly 18 months since the last Budget and in the meantime we will have had three different chancellors following the unexpected resignation of Sajid Javid. The early years of a new Parliament are a good time to make radical changes and many are […]

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In just over a month’s time, changes to IR35 tax rules for contractors will occur. However, many contractors are still confused as to what the IR35 changes will mean for their business and what is required prior to the implementation date of 6th April. From 6th April, if you work as a contractor and your […]

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BUDGET DAY IS NOW 11 MARCH The December General Election meant that the Autumn Budget was delayed and we now know that Sajid Javed will deliver his first Budget on the second Wednesday in March which is when Budget day used to be! We are expecting that the tax measures in the Conservative Party manifesto […]

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Are you the director of your Limited Company? If so, then you must pay employers’ as well as employees’ National Insurance Contributions on salaries that your company pays out (which are above the NI threshold).  National Insurance Contributions are only payable on salaries, not dividends, so there are significant tax benefits to company directors taking […]

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ELECTION TAX PROPOSALS – MORE MONEY FOR NHS? The various political parties have all made bold promises in the run up to the General Election about increased spending if elected, particularly extra money for the NHS. Although many of the spending pledges will be funded out of increased borrowing, the parties have assumed that they […]

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How to pay yourself as an employee of your limited company Through your Limited Company, in most cases, you will pay yourself via a combination of salary, dividends and perhaps through contributing to a pension too. The most important thing to keep in mind when paying yourself is to plan for tax well in advance, […]

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WHEN WILL BUDGET DAY BE NOW? It was announced on 14 October that Sajid Javed’s first budget would be on 6 November but with a general election in December when will it be now? The current political uncertainty makes it difficult to give clear tax advice as a number of key proposals in the draft […]

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How to prepare an exit strategy for your small business You may wish to part ways with your business for a number of reasons, whether you’re a serial entrepreneur, or perhaps your business is struggling and you just want to move on. Either way, an exit strategy for selling the business is key. Here we […]

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GOVERNMENT U-TURN ON PENSION TAX FOR DOCTORS AND OTHERS? In earlier newsletters we reported that hospital doctors and GPs were lobbying the government to amend the pension tax rules as the current system of restricting tax relief on pension contributions means many doctors paying almost all of the extra salary back in tax if they […]

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The Scottish Government are providing grants of between £2000 and £4000 to help small and medium sized enterprises in Scotland manage a wide range of Brexit impacts. To qualify for the grant you have to be either a; VAT registered small to medium sized enterprise (basically this means less than 250 employees and less than […]

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