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BUSINESS GUIDES, INSIGHTS, ADVICE & NEWS
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How can I reduce Corporation Tax 2022?
You pay a corporation tax rate of 19% on the profits made by your limited company and this is due to increase to up to 25% from 1 April 2023. Profit is defined by HMRC, in the strictest sense, as whatever is left from your revenues after you’ve paid for everything you had to purchase…
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Pre-Year End Tax Planning Opportunities 2022
We appreciate 2021 has been another challenging year as we have been putting one foot in front of the other, so putting money aside or looking to reduce your tax probably couldn’t have been further from your mind. However, as the 5th April 2022 approaches, we don’t want you to miss out on the relevant…
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How to reduce Corporation Tax?
You pay a corporation tax rate of 19% on the profits made by your limited company and this is due to increase to up to 25% from 1 April 2023 following the Spring Budget. Profit is defined by HMRC, in the strictest sense, as whatever is left from your revenues after you’ve paid for everything…
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HMRC Fraud Investigation Service
Established in 2015 through the merger of the Special Investigations Unit and the Criminal Investigations Unit, the Fraud Investigation Service (FIS) is the elite group within HM Revenue and Customs (HMRC) investigating cases of suspected serious tax evasion, tax fraud, and aggressive tax avoidance. For decades, Governments of all colours have been concerned with closing…
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Have you ever wondered…
…why doesn’t the tax year start on the 1st January? Why the 6th April? Well you wouldn’t be the first to ask us. So we thought we’d fill you in…
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How do you pay back your Bounce Back loan
To help UK plc cope with the unprecedented economic turmoil and start-stop shutdowns caused by the Coronavirus (COVID-19) pandemic, the Government has had to borrow hundreds of billions of pounds. A significant part of this cash was funnelled directly into the bank accounts of small businesses via the Bounce Back Loan Scheme.
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How much interest do HMRC charge?
HMRC expect everything you owe them to be paid on time and in full – but you already know that! Less well known though is they’re willing to help both personal and corporate tax payers if they’re unable to meet their obligations by the date due but, and this is important, you first must apply…
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We are Black and White
The last 12 months have been more fun than anyone could have anticipated or planned for. Today we have sent out Happy New (Tax) Year cards, or Thank You cards to all our clients, as more than ever, we want to make you aware how grateful we are for your business and how we are…
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How to work out VAT
One subject us tax accountants get asked the most is Value Added Tax (‘VAT’). What in theory should be quite a simple tax is actually really hard for many business owners to administer in practice. In this article, we’ll cover everything from how to work out VAT to when you need to add VAT to…
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How to close a limited company
Around 10% of businesses close each year for a variety of different reasons. It could be that the owners want to retire, a company is bought out and merged into another, or a business runs into financial difficulty and it can’t meet its creditors’ bills. Unfortunately for directors and shareholders, closing a limited company is…
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What is HMRC Time to Pay (TTP)?
In the ten years and more since the financial crisis of 2008-2009, HM Revenue & Customs (HMRC) have agreed many more late payment plans to help out individuals and companies who temporarily do not have the money needed to settle their forthcoming tax bills in full. Self-employed individuals and directors can spread the cost of…
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What is Management Accounting?
The work of a management accountant goes far beyond the scope of recording and updating the financial information of a business so that it complies with HMRC’s quality standards. Managerial accountants build their career on working with leadership teams and senior managers within ambitious companies. They provide directors with detailed financial and non-financial performance information,…