Making Tax Digital for Income Tax – What you need to know HMRC has deferred the start of Making Tax Digital (MTD) for Income Tax, due to the Government recognising the challenges faced by many UK businesses in the wake of the pandemic. Though delayed, tax...
Business advisors, like me, often tell you that you need a Strategic Plan. Creating one for your business is honestly a lot of effort, so do all businesses really need a Strategic Plan? The answer is this: If you’re really ambitious for your business, you do need a...
We often get start-up businesses coming to see us, and one big question we often get is “should I be a Limited Company or not?” There used to be quite a tax saving from having a Limited Company and this far outweighed the slightly higher fees to operate versus a sole...
All businesses pay tax based upon what profits they make, once the profit is calculated the relevant tax rate is applied to this to calculate the amount of tax due. To arrive at a profit a series of allowable costs are deducted from the business’s turnover. The rules...
These days it’s very important to plan ahead when your year-end comes around. Many opportunities for tax planning simply disappear once the year-end date slips by. We’ve set out the important areas for consideration below along with the reasons why we call this our...
Once you decide which structure you’re going to use for your business it’s time to register with all the necessary authorities. Here’s how to do it if you’ve chosen the Limited Company option. Forming a Limited Company The first thing you need to do is incorporate a...
