9 Ways To Make Christmas Tax Deductible and Keep The Taxman Ho Ho Ho Happy
The season of goodwill is upon us. Many business owners would be “splashing out” on gifts, parties, awards and other kind gestures to end the year on a high. And if you’re looking for some Christmas tax reliefs or ways to leverage your money this Christmas, then here...
Should you transfer your buy-to-let properties into a limited company?
With mortgage interest tax relief disappearing, landlords who have a few buy-to-let properties could consider transferring them into a limited company. But is it worth doing? Jonathan Amponsah, CEO at The Tax Guys, explains the pros and cons. Mortgage interest...
Ten common tax return mistakes made by small business owners
To assist self-employed and freelance workers getting ready to file self-assessment tax returns this month, Jonathan Amponsah, co-founder of tax return app Easy Tax Returns, reveals ten common tax return mistakes to help small business owners avoid an unwanted visit...
How To File A Tax Return: Avoid These 23 Common Mistakes
AFTER A decade of dealing with hundreds of tax returns and assisting clients with tax enquiries, I have come across 23 common mistakes that people make when filling in their personal tax return. These mistakes, however innocent can lead to unnecessary penalties,...
How to claim your holiday, golf lessons, school fees and entertainment against your business
Nobody wants to pay more tax than they need to, but sole traders and directors of limited companies commonly pay unnecessarily high tax because they simply don‘t realise the extent of expenses that they can claim against their income. According to HMRC,...
Should You Run Your Business Without An Accountant?
Nowadays there are plenty of tools to help you do your with little or no help from an accountant. And for many micro businesses and sole traders, the additional costs of hiring an accountant can be put back into the business. Not to mention the fear and nervousness in...
What Expenses Can I Claim Against Tax?
Did you know there are over 36 expenses you can claim against tax? When you incur expenses for your business, the taxman will contribute towards the cost so long as the whole purpose of the expense was for your business. So whilst you cannot claim for some personal...
21 Ways to Reduce the Impact of BREXIT
21 Ways to Reduce the Impact of BREXIT on your Business & Personal Finances... Whatever your political persuasion, wherever you placed your cross on the ballot paper on the 23 June 2016, events are now unfolding that will change the economic landscape of the UK...
Practical implications of the dividend tax allowance
The new rules governing the taxation of dividends are set to take effect in relation to dividends received after 5 April 2016. The changes include: [show_more more="MORE" less="LESS"] a £5,000 dividend nil rate (also known as the 'dividend tax allowance' (DTA)), which...
Personal savings allowance update
From 6 April 2016, the personal savings allowance (PSA) will allow basic rate taxpayers to receive up to £1,000 of savings income tax-free. For higher rate taxpayers, this limit will be £500. HMRC have published guidance setting out details of what counts as...