Tax

18 November 2020

Guide to late filing penalties

It’s really important to file your taxes on time! If you don’t, you can face penalties from HMRC. There are several different taxes you may need to pay if you run a small business or work self employed. You can find out more about the taxes you may… Read more

16 November 2020

Guide to Capital Gains Tax

Capital Gains Tax can seem complicated! We take you through it step-by-step so you know what to do if you dispose of your assets. What is Capital Gains Tax? When you dispose of an asset that has increased in value you’ll need to pay Capital Gains… Read more

2 November 2020

What is small business rate relief?

If you’re running a small business and want to decrease your business rates, you might be eligible for small business rate relief. Find out what you need to know in this guide. What is small business rate relief? Small business rate relief offers… Read more

26 October 2020

Guide to business rates

If you run a business in the UK, you’ll need to pay business rates on your business property. This guide takes you through what you need to know! What are business rates? You’ll need to pay business rates if you use a non-domestic property. This… Read more

19 October 2020

What are capital allowances?

Capital allowances are how you deduct costs for plant and machinery from your tax return. Find out what you need to know about capital allowances with this guide! What are capital allowances? When you buy fixed assets that you use for your business,… Read more

5 October 2020

What is IR35?

If you’re working as a contractor, it’s important to know about changes to IR35 regulations that are coming into force in April 2021. What is IR35? IR35 is off-payroll working rules for clients, workers (contractors) and their intermediaries. This… Read more

30 September 2020

Sole trader National Insurance explained

Sole traders need to register to pay National Insurance contributions to HMRC. This guide will take you through what they are, how much you need to pay, and how to make your payment. What is National Insurance? National Insurance contributions… Read more

7 September 2020

What can you claim as allowable expenses?

You can reduce your tax payment by deducting allowable expenses, so it’s important to know what you can claim on. What are allowable expenses? Allowable expenses are running costs for your business. You can deduct them from your profit, so you don’t… Read more

12 August 2020

The best MTD software features

When you’re choosing a software to comply with Making Tax Digital, there are some key features you should look out for. Your software must be MTD compatible The most important thing you need to be aware of when choosing your MTD software is that it… Read more

10 August 2020

Company Bonus or dividend?

Confused about the difference between a company bonus and dividend? Find out what you need to know. What’s the difference between a company bonus and dividend? A bonus is a one off payment made to an employee or director of a company. Dividends are… Read more

24 July 2020

Why it's important to choose the right MTD software for your business

Making Tax Digital can seem like a big change for small businesses. But, choosing the right MTD software can make all the difference! Here’s a quick guide to why you need the right software. What is Making Tax Digital? Making Tax Digital (MTD) is… Read more

24 July 2020

Tax on dividends guide

If you’re curious about dividends, and what tax you may need to pay on them, here’s a helpful guide to help you get started. What are dividends? Dividends are payments you might receive if you own shares in a company. For example, as a shareholder… Read more

20 July 2020

What allowances can I claim as self employed?

There are several different allowances you can claim as a self employed person; a Personal Allowance, capital allowance, tax-free allowances and allowable expenses. What is a personal allowance? A Personal Allowance affects what amount of your… Read more

17 July 2020

Is Making Tax Digital good for your business?

Making Tax Digital for VAT came into force a year ago. Using an MTD software to do your accounting can have some great benefits for your business. Take control of your finances Using a digital accounting software can help you get a clear overview of… Read more