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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.
What is Salary Sacrifice and why do people do it?
‘Salary Sacrifice’ is a mechanism where a formal agreement is made jointly by an employer and employee, to reduce an employee’s salary in return for some other benefit. The point of this arrangement is generally to save National Insurance – and this saving can then...
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...
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...
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...
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...
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...
VAT codes to use when bookkeeping in Xero, QuickBooks, Sage and Kashflow
Different accounting software packages treat their VAT codes and rates in different ways. This quick guide should point you in the right direction so that you know which rate to use in which situation: Xero No VAT – These transactions will not appear on your VAT...
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...
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...
What car expenses can I claim for my business?
Find out what car expenses you can claim for your business
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