It’s about a week to go until the Autumn Statement. The Chancellor will stand up on 22 November to reveal his plans. But what can we expect? On the face of it, there shouldn’t be much news – the current economic climate of high inflation and low...
It is always a good idea to set up a planning meeting with us a couple of months before your business year-end so that we can advise you on the best actions to take to reduce your taxable profits. In addition to considering paying yourself a bonus from your company,...
In recent years, many accountants have advised their director/shareholder clients that the most tax-efficient method of extracting profit from their family company was to pay themselves a low salary, at or around the £12,570 personal allowance, with the balance in...
Now that the nights are drawing in, thoughts are turning to the staff Christmas party. If you’re one of those generous employers who pay for the staff festivities, will you give the team a tax headache? The good news is that as long as the cost is under £150,...
IT IS IMPORTANT TO HAVE UP-TO-DATE PROFIT FORECASTS FOR TAX In order that we can help predict your taxable profits and tax liabilities, we need up-to-date profit figures and projections. One of the advantages of keeping your business accounts in a computerised form,...
Are you ready for the changes to tax periods for self-employed? The allocation of profits to tax years for the self-employed is undergoing a massive change in 2023/2024. The government suggests this is a change to ‘simplify’ the taxation process for the...
