There is a variety of tax reliefs available to small companies which are advocated by HMRC and can be used to save tax through clear and authorised methods. One such scheme is Research and Development (R&D) tax relief. This is a government incentive designed to encourage innovation by UK businesses. R&D tax relief can be equivalent to up to 33p for every £1 spent on qualifying expenditure.
Continue ReadingEmployee Pensions – Are you ready for Auto-Enrolment?
Auto-enrolment is the term for the automatic enrolment of employees into workplace pension schemes.
Operating through a company – managing the IR35 risk
What Is IR35? There is a lot of information about IR35 and urban myths of which many aren’t true.
Continue ReadingChanges to tax on savings and dividends
From 6 April 2016, there have been a number of changes in the way that savings income, including interest and dividends, is taxed. As with all tax changes, there will be new opportunities for taxpayers to reduce their tax burden by ensuring that their affairs are structured efficiently. The changes have been billed as a simplification which would lift many taxpayers out of self-assessment. However, whilst the changes will bring simplification for some, they will also mean that others need to complete a tax return, where they did not before.
Continue ReadingResidential property income – tax changes are upon us
Buy to let landlords of UK residential properties have been bombarded with tax changes in the last year.
In the past, letting residential property (even by individuals) was treated as a ‘property business’ for the purposes of calculating the taxable profit. Therefore, on normal business tax rules, interest paid on a loan used to purchase a property which is let, was deducted from the rental income received in the property business. For individuals who are landlords, the Government has changed this longstanding rule.
Continue ReadingThe new UK GAAP – are you ready?
Steve Wiltshire gives an overview of the implications of Financial Reporting Standards 102 to 105.
Continue ReadingBeat the taxman!
Mel Hackney sets out some easy wins to help you maximise your tax breaks before the end of the tax year.
Continue ReadingR&D relief: is your business eligible?
Mel Hackney gives an insight into R&D tax relief, and how many eligible businesses don't realise that they are.
Continue ReadingDividend tax – are you prepared?
Mel Hackney gives an overview of the forthcoming changes and why small business owners should be reviewing their remuneration strategy.
Continue ReadingFrost Wiltshire on the move
Over the summer we have moved into newly refurbished offices on the top floor of our existing premises in Chipping Sodbury, affording us more than double the space in light, bright and contemporary new surroundings.
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