by yasiradnan94 | Jul 13, 2022 | Accounting, Advice, Tax planning
Scammers are very aware of the tax payment deadlines and will step-up their efforts to divert payments from taxpayers to their own bank accounts. When you complete your tax return by logging into your personal tax account (see below) you can now choose to scan a QR...
by yasiradnan94 | Jun 10, 2022 | Accounting, Advice, Business, Financial planning, Tax planning, VAT
It is important to keep your personal money and your company’s money completely separate. If you use your company’s bank card to buy personal items or to pay your own bills, that expenditure is treated as a loan to you. The loan creates a corporation tax...
by yasiradnan94 | Jun 8, 2022 | Accounting, Advice, News, Tax planning
The rates for national insurance contributions (NIC) increased by 1.25 percentage points for everyone on 6 April 2022. From 6 July the NIC starting threshold will rise to £12,570 per year (£1,048 per month) for employees. This means that some lower paid employees will...
by yasiradnan94 | May 17, 2022 | Accounting, Advice, Business, News
The untimely death of a sole shareholder/director of a private limited company can bring business to a standstill and put considerable pressure on the deceased’s personal representatives. When a sole director dies – and if there are surviving shareholders or members –...
by yasiradnan94 | May 10, 2022 | Accounting, News, Tax planning
All late paid tax now carries interest at 3%. Where the tax has been outstanding for more than six months a 5% surcharge on the outstanding amount may also apply. Surcharge rates of up to 15% can apply for VAT paid just one day late. If you can only pay some of your...
by yasiradnan94 | Apr 21, 2022 | Accounting, Advice, Business, Financial planning, Tax planning, VAT
Contract termination fees can be a bitter pill to swallow when you just want out of an expensive agreement. What’s worse is that some suppliers will charge VAT on top of the cancellation fee while others will not. The law has been a bit of a mess but HMRC has...
