If you have a company car, then the chances are that you will have to pay company car tax. But, what is company car tax? And how much will you have to pay? In this article, we’re going to look at what the tax is, the new changes you should know about, whether petrol or diesel
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Will you cry over the tax your nanny could cost?
by Ben Lobel • • 0 Comments
The school holidays are a time when business owners with younger children face the extra burden of trying to maintain operations as usual, while also juggling the need to entertain their children. For many a nanny is a good option, but unlike other forms of childcare where you are effectively paying for service provision, a
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Contractors urged to seek IR35 status to resolve public sector confusion
by Owen Gough • • 0 Comments
IPSE, the Association of Independent Professionals and the Self Employed, has advised all contractors to check their IR35 status in order to resolve the confusion and uncertainty over the newly implemented public sector rule changes. From 6 April, the start of the new financial year, there was a change in the way IR35 status determinations
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How tech can save us from the annual tax meltdown
by Ben Lobel • • 0 Comments
Computers will never replace people. But I say let them try. There are just some things us humans were perhaps never meant to do so labour intensively in the first place. Bookkeeping tops my list. Traditionally, bookkeeping was a job for someone semi-skilled. Accounting paperwork used to be processed through double-entry bookkeeping principles, using appropriately
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Tax planning tips for small businesses
by Ben Lobel • • 0 Comments
For many small business owners, tax is one of the most challenging areas of running a business. And with good reason, too – the tax system is complicated. Unfortunately, that can lead to problems. In 2016, it was estimated that UK citizens overpaid not far off £5 billion in tax by not taking advantage of
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Is HMRC promoting tax avoidance for contractors who use its IR35 status tool?
by Owen Gough • • 0 Comments
In the week that new IR35 legislation comes into effect in the public sector, contracting expert Dave Chaplin, CEO and founder of ContractorCalculator suggests that HMRC’s IR35 status tool could be facilitating tax avoidance. This is based on the analysis of over 558 results that contractors have obtained from HMRC’s Employment Status Service tool compared with
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IR35: Contractors predict public sector suffering as reform lands
by Owen Gough • • 0 Comments
Changes to IR35 in the public sector enforced today, will hit major public sector projects hard according to 95 per cent of contractors. The responsibility for setting the IR35 status of public sector contractors now falls on public sector engagers, rather than contractors – 85 per cent of whom will stop working in the public sector should
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Tax-efficient ways to extract profits from your business
by Owen Gough • • 0 Comments
Navigating your way through the early stages of your company lifecycle can be one of the most challenging times for small businesses. From knowing when it’s time to recruit to choosing suitable office space, there are a number of pitfalls awaiting companies who aren’t prepared for what’s ahead – and financial instability can be one
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The fundamentals of financial management for small businesses
by Ben Lobel • • 0 Comments
Recent research by software developer Reckon finds that financial management is the biggest concern of small business owners across the country. Some 59 per cent of small businesses owners in the Reckon study said they asked are concerned about financial management and demonstrate the real importance of financial literacy as a key skill for business owners, as
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Four things to know about Making Tax Digital in the new tax year
by Ben Lobel • • 0 Comments
The start of a new tax year is almost upon us, which means many business owners are currently gearing up to make changes that could help their business flourish in the next 12 months. But while these short-term improvements can be incredibly valuable, it’s also a good idea to start looking at other potential issues
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