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Frequently Asked Questions

Business

I earn less than £10,000 from self-employment. Do I have to register for anything?

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How can I protect my business?

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When should I hire an accountant?

Read all Business Insights

Contractors

What are my options for being paid as a Contractor?

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What insurances should I have as a Contractor?

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Can my Contractor wife and I use the same Company?

Read all Contractor Insights

Expenses

What is the special 24 month rule on working overseas?

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Can I claim expenses for doing business admin at home?

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Can I claim my new computer as a business expense?

Read all Expense Insights

Landlords

What expenses can I claim against my rental income?

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What is the HMRC Buy to Let Amnesty?

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What are the new tax rules on landlord’s mortgage interest?

Read all Landlord Insights

Pensions

What’s the impact if I over fund my pension?

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What is the tax relief on pensions?

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What is a Qualifying Year for state pension purposes?

Read all Pension Insights

Tax

How do I register for CIS?

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Is there any income that is tax free?

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What are HMRC Payments on Account in January and July?

Read all Tax Insights

VAT

VAT reverse charge for building and construction services

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How will MTD affect my VAT registered business?

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VAT codes to use when bookkeeping in Xero, QuickBooks, Sage and Kashflow

Read all VAT Insights

Our Latest Insights

Can I claim expenses for working from home for my business?

Apr 5, 2024 | Expenses

Business owners can claim the expense of using their home as an office, (as a business expense), based on the portion of rent, mortgage interest, council tax, water, fuel etc. used while working on the business at home. There are 2 ways to calculate this: Weekly...

How do I register for CIS (the Construction Industry Scheme)?

Mar 22, 2024 | Tax, Construction

The Construction Industry Scheme is a scheme that applies to payments to self-employed workers and businesses in the Construction Industry. Under the scheme tax is deducted from payments and paid over to HMRC. There are two...

VAT reverse charge for building and construction services

Mar 1, 2024 | VAT, Construction

On 1st March 2021, the VAT reverse charge for building and construction services came into effect for VAT registered businesses in the Construction Industry Scheme. In a nutshell, from 1st March 2021, the reverse charge means that a subcontractor in the CIS scheme...

Ask AMS Videos

In 2007 we had the idea of publishing short articles in the local press which could be useful for small businesses. Our approach was to answer questions frequently asked by our clients with clear and genuinely helpful answers.

The natural progression was to produce videos and since 2015 our video library has increased to over 80 videos in 7 different categories.

We make every effort to stay relevant to small business and contractor issues – hopefully you will find them useful and easy to understand!

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If you are a small business or a Contractor – we are here for you. We will help you through all stages from setting up to reviewing your existing business – making sure that you have the most tax effective structure.

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