2018 tax year

Changes in 2018/19

The new tax year started last Saturday and there are some very significant changes for small business owners.   The government often focus on the increases in tax free allowances and tax brackets going up so that we will save money but the decrease in the tax free dividend allowance this year will almost certainly mean… Read more »

Save tax

Marriage allowance

What is Marriage allowance? Marriage Allowance is a scheme run by HMRC to make taxes on married couples fairer.  It basically reduces the tax bill for couples where one partner is earning most of the income by allowing the lower earner to transfer some of their tax free personal allowance to the higher earner if… Read more »

Tax-free childcare

The childcare voucher scheme allows your employer to pay for childcare out of your pre-tax salary under certain circumstances. This can result in £1,000+ in annual savings on tax and NI in some families but there are requirements that need to be met and limits to what can be paid for. This current scheme has… Read more »

Budget 2017

The Budget 2017

While the budget has been all over news and social media, the changes that grab the headlines are rarely the ones that really affect us in our day to day lives and are often skewed by political views.  We have condensed the 68-page budget into a few brief points that could potentially have an impact… Read more »

Flat Rate VAT

Changes to the Flat Rate VAT scheme

Flat Rate VAT has been an asset to many small businesses by simplifying their administration and usually turning a small profit on the VAT charged to customers.  However, HMRC have decided that the scheme is being ‘aggressively abused’ and they’ve put their foot down to try to stop this abuse by bringing in new legislation… Read more »

Pay your self assessment tax online

The easiest and fastest way to pay your self assessment tax is using the HMRC online payment portal.  All you will need is: The value that you need to pay – This should have been given to you when you signed off your tax return; Your debit/credit card – There is a small fee for… Read more »