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Our News page is updated daily and the news feed is supplied by Sift media who are well respected writers in the industry.  If you are interested in new laws, guidance and reports on anything that is happening in Government that could affect your business, these posts -will be useful. You can also sign up to receive them in your inbox.

Depreciation and Capital Allowances

  Most expenses incurred by business are written off during the year, but some relate to assets that are used for several years, for example, vehicles and computers.  Because they last for several years, you can...

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Tax advantages of a Limited Company

There are 3 tax advantages for small Limited Companies over Sole Traders and Partnerships. There is no National Insurance to pay on Dividends, but 7.5% tax is due after the first £2,000 is paid out. You pay income tax on...

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What taxes affect landlords?

When starting up as a landlord there are a number of issues and tax implications to bear in mind. Decide on what investment property to buy.  This is obviously the most basic decision and the key decision (aside from whether to buy a property).   Decide how to...

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

If you are a buy to let landlord the let property mortgage interest relief is not tax deductible.  Instead, a 20% tax credit is given that reduces the tax payable – but the calculation of this tax credit is not necessarily straightforward.  On the other hand, Limited...

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Tax on Bitcoins and Cryptocurrencies

If you’re a Company investing in Bitcoins or other cryptocurrencies, you should treat the investment like a foreign currency. When you buy them, you should note the sterling value and, at your business year end, convert the...

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What are Depreciation and Capital Allowances?

Depreciation: Is an accounting term for spreading the value of a fixed asset (vehicle or equipment etc.) over its useful life.  Spreading the cost is fairer and more accurate than deducting it all from the Business’s Profit in the year of purchase.  i.e. Depreciation...

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Tax advantages of a Limited Company

There are 3 tax advantages for small Limited Companies over Sole Traders and Partnerships. There is no National Insurance to pay on Dividends, but 8.75%  tax is due after the first £2,000 is paid out. You pay income tax on dividends only when you take out the money...

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What are the R&D tax credit rules for SMEs?

From 1st April 2021, the maximum amount of payable R&D tax credit which an SME (a Small or Medium Enterprise – which is defined as no more than 500 employees and either turnover of no more than €100m, or balance sheet total of no more than €86m) can claim is...

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