Maximise Profits, Minimise Taxes and Gain Invaluable Business Insights
The government are moving away from the current test NEDC (New European Driving Cycle) of CO2 emissions on cars and are implementing a new test called ‘WLTP’ (World Light-Duty Test Procedure) which has been designed to gather data more accurately, based on the likely emissions of cars in real-life driving conditions. This new policy is […]
Company Car Tax Changes April 2020 Read More »
IR35 – Changes to off-payroll working from April 2020 In October 2018, the Chancellor delivered his Autumn Budget and confirmed that the proposed reform to the taxation of personal service companies (PSCs) in the private sector is to be implemented from 6 April 2020 for large and medium sized businesses. Small Business Exemption
IR35 – Changes to off-payroll working from April 2020 Read More »
Many homeowners with large gardens consider selling part of their garden to property developers or building a house themselves, it can be a great way of extracting tax-free cash from your home. Principle Private Residence Relief (PPR) usually exempts most owner occupiers from a charge to tax when they sell their main residence. The relief
Selling Part of your Garden for Development Read More »
OVERVIEW R & D tax relief allows SME companies to either: Deduct an extra 130% of their qualifying R & D costs from their profit, which is in addition to the normal 100% deduction Claim a tax credit if the company is loss making, worth up to 14.50% of the surrenderable loss
Many high earners (who earn over £50k), who have more than one source of income which are subject to NI have been overpaying. In the current tax year the NI rates and thresholds are as follows: • Class 1 (paid by employees) – 12% on earnings between £8,632 and £50,000 and 2% thereafter. • Class
Could you be Overpaying your National Insurance? Read More »
The VAT domestic reverse charge for building and construction services comes into effect from 1 October 2019. The reverse charge represents part of a government clamp-down on VAT fraud. A domestic reverse charge means that a contractor receiving a supply of specified construction services must account for the output VAT due, rather than the sub-contractor
VAT Reverse Charge for Construction Services Read More »
HMRC have introduced a new tax relief for commercial properties, whereby relief will be given at a rate of 2% per annum for expenditure on the construction of commercial property that does not qualify for capital allowances as either plant, machinery or integral features where all contracts for construction work on a project were
Structures and Buildings Allowance (SBA) Read More »
CGT changes for property owners from April 2020 HMRC have introduced two changes to private residence relief from April 2020, both of which may result in additional capital gains tax for property owners if they sell a residential property for a gain. On disposal of a residential property which has been occupied by an individual
CGT changes for property owners Read More »
Get the best out of your employees with an EMI Scheme. EMI schemes are a great way of increasing employee motivation and longevity. Enterprise Management Incentive (EMI) schemes are tax approved schemes for employees and are available to most trading companies. They allow an employer to grant share options to key staff tax efficiently. An
JUNE 2019 Due to our ongoing expansion program we are looking for qualified ACA, ACCA or qualified by experience accountants to join our team. Contact us and we will tell you how joining our practice would be the best move for you.
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