USING ALPHABET SHARES IN A SME BUSINESS
Alphabet shares refer to shares issued by a limited company that have different rights attached to them as set out in the company’s articles of terms of issue. The shares are listed by a letter (‘A’, ‘B’ etc) and hence called alphabet shares. Businesses issue this type of share for various reasons. Typically, a limited […]
ARE YOU LOSING OUT ON A TAX REBATE? FILE YOUR TAX RETURN TO FIND OUT
Most people associate tax returns with watching money trickle out of their bank account. However, more often than not, submitting your Self Assessment could actually result in the process of a tax rebate.Often this is the case when if your circumstances have changed. Below are some of the instances in which you might be entitled […]
Are you ready for April 2020 UK tax changes?
Now that the certainty of Brexit has been determined, perhaps now is a good time to think about the tax changes coming into effect in April 2020. The Chancellor of the Exchequer is expected to deliver his post-election Brexit budget in the early part of 2020. Company taxes The corporation tax rate was due to […]
Self Assessment tax returns – the clock is ticking
As 2019 comes to an end, the deadline for submitting your Self Assessment tax return, 31 January 2020, is swiftly approaching. You must send a tax return if, in the last tax year (6 April 2018 to 5 April 2019) you were self employed as a ‘sole trader’ earning more than £1,000, a partner in […]
Paying into a pension from your limited company
If you run your own limited company, there are two ways you can pay into a pension fund, both of which offer significant tax advantages. You can opt to make personal contributions or make them through the business in the form of company pension contributions. Personal pension contributions When you pay into a pension scheme […]
Non-Resident Businesses Opening a UK Business Bank Account
An issue which arises time and time again with our overseas based clients is that of opening a UK business bank account. While it’s easy for a non-UK resident to register a limited company in the UK, opening a business bank account is a little more complicated. It is not a legal requirement to have […]
Is it worthwhile of buying a car through my limited company?
At first this can seem like a great tax saving idea, but there are many variables to consider before deciding whether to buy your car through your company or as an individual. Firstly, it is important to determine whether the car will be used for business purposes only or will it serve for private rides […]
Payments on Accounts – Self Assessment
Payments on account for personal tax returns (self assessment) can be one of the most confusing things to understand when it comes to your income tax bill. The personal tax year in the UK runs from 6th April to 5th April – for example, the 2019/20 tax year is for the period 6th April 2019 […]
UK political parties: tax policies
With just a month to go until the UK General Election, it is a good time to consider the different tax policies of the main political parties in order to have an idea of what potential changes could be round the corner come December 12th. Currently ahead in the polls is the Conservative Party and […]
Research & Development TAX credits
Research & Development tax credits are a tax relief designed to encourage greater R&D spending, leading in turn to greater investment in innovation. They work by either reducing a company’s liability to corporation tax or by making a payment to the company. Activities which directly contribute to achieving this advance in science or technology through […]