Category: Tax Tips

Tax tips and advice

Pension Options for the Self-Employed

pension coins clock time

The self-employed must consider their pension options with more urgency than those in full-time employment. Without the privilege of being automatically enrolled into a workplace pension scheme, saving for retirement can be tricky.

Posted in Tax Tips

How Will HMRC’s Move to Digital Self-Assessments/Accounting Affect Your Business

The move to digital tax returns will affect every business.

With the upcoming digital tax makeover soon to be upon us, business owners across the UK should be aware of their new responsibilities when dealing with HMRC. The system is currently being phased in and set for universal coverage by

Posted in Tax Tips

The Only Reasonable Excuses for Filing your Tax Return Late

scrabble letters tax return

Although filing a tax return late will incur penalties, you are allowed to appeal the decision should there be a reasonable excuse. The government provides a list of these acceptable excuses on their website, ranging from situations outside of your

Posted in Business News, Small Business Advice, Tax Tips

Charging and Claiming VAT for Your Business

As a business owner, you must decide if you want to register your company for VAT. This is compulsory for companies with a taxable turnover of £83,000 or higher, although you can still register voluntarily if your turnover is less

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Learning More About HMRC Penalties for Businesses

Businesses in the UK have a responsibility to complete tax returns accurately and on time. If discrepancies are found or deadlines aren’t met, the HMRC will impose penalties on the company depending on the amount owed and degree of lateness.

Posted in Small Business Advice, Tax Tips

Claim Your £2,000 NI Allowance

The new employment allowance (EA) could cut your NI bill by £2,000. HMRC recently published its guide on how and when you can claim it. What’s the full story?

Posted in DLR Accountants News, Limited Company Advice, Local Business News, Small Business Advice, Tax Tips Tagged with:

A Good Budget For Companies?

The Chancellor crammed a lot into Budget 2014, including one or two pleasant surprises. What are the key changes for you and your company?

Posted in Business News, Limited Company Advice, Local Business News, Small Business Advice, Tax Tips

Is Sharing Income With Your Spouse Tax Abuse?

The tax general anti-abuse rule (GAAR) became law this summer, and there have been rumblings that HMRC will use this to attack income shifting between spouses. Should you be concerned about this?

Posted in Tax Tips

Are Entertainment Costs Ever Tax Deductible?

You’ve taken a stand at a trade fair, and to pull in the punters you’ve splashed out on some booze and fancy nibbles. Normally there’s no tax deduction for this type of expense, but you can take steps to change

Posted in Tax Tips

Tax Efficient Ways Of Getting Your Staff To Work

Finding effective ways to encourage your staff to get to work on time isn’t easy. Providing them with transport would surely help, but it’s likely to be costly. What tax incentives are there to reduce or even eliminate this expense?

Posted in Tax Tips