Blog

Stay informed with the latest updates

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 to consider when buying a commercial property.

Stamp duty There are 3 rates of Stamp Duty Land Tax on the purchase price of a commercial property: 0% up to £150,000; 2% on the next £100,000; 5% over £250,000. VAT Stamp duty There are 3 rates of Stamp Duty Land Tax on the purchase price of a commercial property: 0%...

read more

What expenses can I claim against my rental property?

This is a list of tax deductible expenses that you can claim against your rental property income. Mortgage interest is claimable in full but there are special rules regarding tax relief Management charges/commission to letting agencies Property repairs – but not...

read more

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...

read more

Can I claim tax relief on my car if I’m a sole trader?

 I use my car for my self-employed business – it cost £5,000*.  Can I claim tax relief? Yes - but it's complicated – and it depends on the CO2 emissions of the car. For cars bought after 6th April 2021: Second-hand electric cars, and cars with CO2 emissions over...

read more

What should I do when employing someone for the first time?

The most important things are: You must pay at least the National Minimum wage. Get Employers’ Liability insurance as soon as you become an employer. Send a written job description (including Terms & Conditions) to your employee. When employing someone for over 1...

read more

What to do if you have gone over the VAT threshold?

You should talk to an accountant urgently!  If at any point during a 12 month period, (good to review this monthly) your turnover exceeds the VAT threshold of £85,000, you must register within 30 days from the end of the month in which you went over the limit. If the...

read more

Get in touch today for a free consultation.

We are very happy to meet you to discuss your business or even your idea for a business. We will advise you on the most tax efficient structure if you are setting up and we can review your business if you are already trading.

Subscribe to our newsletter

By submitting your details you agree to receive email marketing from AMS Accountancy and have read and understood our Privacy Notice. You can withdraw your consent or change your preferences at any time by emailing us or by clicking the link at the bottom of every email we send you.