Category: Tax Bills

Bookkeeping tasks to complete in January

January is a great time to review your bookkeeping processes and get your business’ finances organised for the new year. For many businesses, January is a quiet time of year that is best used to review performance and processes and plan and prepare for the year ahead. Complete the following bookkeeping tasks in January to…




Plans to cut corporation tax put on hold

Prime Minister Boris Johnson has announced that the planned cuts to corporation tax are to be put on hold. On 1st April 2020, corporation tax was due to fall from 19% to 17%. However, in the run up to the December general election, Conservative party leader Boris Johnson has announced that this cut to corporation…




What changes are being made to capital gains tax on property in April 2020?

From April 2020 the rules surrounding capital gains tax on the sale of residential property will be changing, are you prepared? The proposed changes were announced by former Chancellor Phillip Hammond in the 2018 Budget and are due to come into effect on 6th April 2020. The main changes relate to: Timescale for payment of…




Is your business’ payroll affecting retention rates?

Mistakes or inefficiencies in your company payroll could be having a negative effect on retention rates and employee wellbeing. A recent study conducted by an independent research firm and commissioned by Zellis, found that 21% of Brits have changed jobs after being paid late or inaccurately by their employer. The research found that a shocking…




Tax incentives for running electric commercial vehicles

Did you know that switching from petrol or diesel to electric commercial vehicles could help to save your business money? Businesses are under increasing pressure to find ways to work more sustainably and reduce their carbon emissions to help protect our planet. If your business runs commercial vehicles, making the switch to electric models can…




How are landlords taxed for rental properties?

If you’re a landlord, it is your responsibility to pay tax on the income you receive from your rental properties. Managing rental properties can be a lucrative full-time job, or a small second income, either way the profits you earn will be liable to income tax. Income tax is due on your total profit once…




Income tax rates for the new 2019/2020 tax year

April marks the start of the new tax year, and all businesses and employees should ensure that they understand what has changed and how they will be affected. The changes to this year’s tax rates were announced by Chancellor Phillip Hammond in the Autumn 2018 Budget and came into effect on April 6th2019. Make sure…




What is IR35 and how can it affect the tax a contractor pays?

Contractors falling inside of IR35 could see their net income reduced by up to 30%, so it’s important to have a good understanding of what IR35 is and how it works. In a bid to encourage entrepreneurship, the government offers tax benefits to contractors working as limited companies to reduce the risks involved with setting…




How To Get Yourself Out Of A Tax Panic

It’s no good us telling you to get your tax affairs in order before Christmas as we enter the new year but it is worth bearing in mind for next year if you want to avoid those same feelings of dread. Until then here are some of our top tips on how to prevent a…




What Does ‘Making Tax Digital’ Mean

You may have heard about the government’s plan to make tax digital from April 2019 but what does this mean for you and your business? A common misunderstanding amongst small business owners is that they are already doing tax digitally so there is nothing to worry about. For some this may well be the case,…