Tax

If you’re just starting out, you’ll need to register your incorporated business for corporation tax (CT). Check out our Plain English guide to CT and your responsibilities as a business owner. #tax #accounting #businesstips #CorporationTax Getting to grips with the basics of accounting, financial management and business strategy can be a challenge. To make things easier, here is...

Thinking about end-of-life planning might sound morbid. But by planning ahead, you remove the worry and hassle for your loved ones and secure your long-term legacy. #businessadvice #SmallBusiness #endoflifeplanning #estateplanning No-one wants to spend too much time thinking about their own mortality. But the reality is that forward planning removes a lot of the uncertainty for your loved...

Have you been hit with an unexpectedly large tax bill? One way to manage this is to apply for a Time to Pay arrangement with HMRC. We’ve got the lowdown on how to do this. #tax #accounting #TimetoPay #tax HM Revenue & Customs (HMRC) expects you to pay your taxes on time. But if you’re finding it difficult...

Are you aware of the personal taxes you’re liable for as a company director? We’ve got the lowdown on self-assessment and capital gains tax – and can help you plan your wealth management as a director. #directors #tax When you set up a new company, there are certain business taxes you’ll be liable for as a business. But...

Are your kids hoping ‘The Bank of Mum and Dad’ will finance their first home? Come and talk us. We’ll run you through the options, the tax implications and the planning that’s needed. #BankofMumAndDad #BOMAD #property #funding Finding the deposit for your first house can be a struggle, and many millennials and Gen Z zoomers are turning to...

UK corporation tax rates change from April 2023. We’ve summarised the big changes and explained the importance of working these new rates into your business tax planning. #corporationtax #businessmanchester Did you know that the UK corporation tax rates are changed from April 2023? From 1 April 2023, the rate of corporation tax changes from 19% to a variable rate...

Are you transferring money or assets to other individuals as part of your wealth management? Potentially exempt transfers (PETs) could be a tax-efficient way for you to reduce your inheritance tax (IHT) liability. The inheritance tax (IHT) threshold has been frozen at the April 2009 amount of £325,000 for a further two years to April 2028. Because of...

This is actually a really easy one to answer. If you had a leaking toilet would you fix it yourself or call out a plumber. Similarly, would you cut your own hair to try and save the cost of a haircut. Why wouldn’t you outsource your bookkeeping. Running a small business is hard and traditionally every small business...

When you decide to get married, tax planning is probably fairly low on your list of romantic requirements. But making use of the Marriage Allowance can actually reduce your tax bill by £250, and can often be overlooked when thinking about your wealth planning. Who qualifies for the Marriage Allowance? The allowance applies to married couples and people...

When first setting up your business, there are multiple decisions to make – and a key consideration will be whether to register the business for Value-Added Tax (VAT), the tax that’s added onto the price of certain goods and services. When does VAT registration become mandatory? When your business’s turnover reaches £85k over any rolling period of 12 months,...