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Everything you ​need to know about Making Tax Digital

The way your business pays tax is set to change. From April 2019, the way you keep your VAT accounts will change  completely.  As you may already know, MTD is the Government’s plan to digitise the tax system. It aims to make it easier, more efficient. Yet, 40% businesses that will be included are still not aware of what it is&n...

Making Tax Digital software: Choosing the right option for your business

What alternatives are available to you?’ Choosing the right software to pay your business’s VAT bill is essential with the rollout of Making Tax Digital rapidly approaching. Once MTD arrives, HMRC-approved software will be the only way to pay VAT. Time is running out before the first VAT deadline for MTD, on 1 April  2019&nb...

9 Reasons You Might Be Singled Out For a Tax Investigation (and 5 ways to reduce the risk)

9 Reasons You Might Be Singled Out For a Tax Investigation (...and 5 ways to reduce the risk) HMRC Tax Investigations are known to last 16 months on average and cost thousands of pounds in accountancy fees.  That’s before you even pay any unpaid tax you might be liable for or any penalties.  The good news is that you can protect yourself fro...

Making Tax Digital – What’s It All About?

Making Tax Digital – What’s it all about? The government’s Making Tax Digital initiative will change filing tax returns for businesses small and large. But what exactly is it? What is Making Tax Digital? Most of us have heard the phrase Making Tax Digital by now, but not everyone is up to speed on what it means.  Making Tax Digital is...

Marginal Gains – How 1% Can Make the Difference

  Marginal Gains   In 2012, British Cycling wiped for floor in the London Olympics.  Those were the salad days before the recent doping controversies kicked in, and according to their coach at the time, Dave Brailsford, they owed it all to marginal gains. British Cycling’s approach to Marginal Gains was to apply the concept...

How to Reduce Inheritance Tax

      Ways to Reduce Inheritance Tax   The government may be planning to take everything you own to pay for your care home. But if there’s anything left, you could be hit with a massive Inheritance Tax bill. Don’t even want to think about it?  We don’t blame you, but if you ignore it, the chances are it cou...

Why Aren’t Architects Claiming R&D Tax Relief?

  Just Why Aren't Architects Claiming R&D Tax Relief?     According to Jack Tindale, manager of the All-Party Parliamentary Design and Innovation Group, only 6% of architectural and design firms, who could apply for R&D Tax Relief, do.  Even worse, SME’s are even less likely to apply for them.   Bri...

7 Corporation Tax Reliefs (for the creative sector)

  Creative Tax Relief April 6th saw the beginning of a new tax year. Our blog last week detailed some of the changes that we could expect, amongst them was a small decrease in Corporation Tax.  But are you aware that there are a group of 7 Corporation Tax reliefs that apply specifically to the creative industries?  They are similar in ...

It’s a New Tax Year – Now What?

  Well they say that nothing ever stays the same, change is the only thing you can depend on (or is it death and taxes).  The new tax year 2017/2018, starting on April 5th, 2017, will be no exception.  Some of the changes may impact your business, so it’s  a good idea to keep abreast of them.  Of course, if you are one of our clie...

Things to Do Before the End of the Tax Year

Things to Do Before the End of the Tax Year The end of the tax year is nigh!  So it's time to check you've done everything you should do before it gets here! Pensions Pension contributions can be used to manage your tax liabilities, but there are annual and lifetime restrictions on the amount you can invest. If you are thinking of puttin...

What’s Happening With the Change in Business Rates?

,   What’s happening with the change in business rates? You may have heard something recently about the new business rates to be introduced from April 2017.  The government’s stance was that they would have a neutral effect and that most businesses would see a drop.  However, that argument has been challenged in recent days and the ...

8 Simple Ways to Reduce Capital Gains Tax

8 Simple Ways to Reduce Capital Gains Tax.   Capital Gains Tax can be confusing for many business owners.  Just what is subject to capital gains tax and how is it measured?  And most importantly how can you reduce Capital Gains Tax? Capital Gains Tax is a tax applied to the net gains you make when you sell or offload an asset after...