Are you missing out on tax credits?

July 31st, 2018

There has been much commentary in recent months reminding tax payers who claim tax credits to file their renewals application before the 31 July deadline. But apparently, many applications have been made incorrectly, and as a result, claimants are not collecting the full amount to which they are entitled. According to a recent announcement by […]


What is in a name?

July 26th, 2018

One of the first things a budding entrepreneur considers is what to call their business. If you intend to incorporate your business as a limited company, the registration process will filter out unacceptable names and names that are too similar to a company already registered at Companies House. However, this registration process can create situations […]


What if there is a hard Brexit?

July 24th, 2018

Although we strive to be non-political in this blog, it would seem that there is an increasing likelihood that when we leave the EU March next year the present free movement of goods will no longer apply. And so, putting aside our reaction to this possibility, what should we be doing to prepare for this […]


Penalties to be points based

July 19th, 2018

Drivers face disqualification from driving if they accumulate 12 or more penalty points for driving offences. The resulting ban can last from 4 to possibly 11 years depending on the gravity of the offence. HMRC seem to think that this point based system is a good idea and they now intend to include draft clauses […]


Tax security deposits to be extended

July 17th, 2018

Continuing the theme from last week’s blog post, we have listed details of a forthcoming change to the taxation of companies that were disclosed in the draft clauses published last week for the forthcoming budget. The change outlined expands the rights of HMRC to demand a security deposit from “at risk” tax payers. In their […]


Do not fall for spoof emails from the taxman

July 12th, 2018

New figures show that HM Revenue and Customs (HMRC) requested a record 20,750 malicious sites to be taken down in the past 12 months, an increase of 29% on the previous year. Despite a record number of malicious sites being removed, HMRC is warning the public to stay alert as millions of taxpayers remain at […]


Advance notice

July 10th, 2018

Last week the Treasury issued draft clauses for the forthcoming Finance Bill (to be published after the Autumn Budget later this year). These will set the scene for tax matters 2019-20 and beyond. The aim of the advance notice is to give interested parties a chance to comment on the contents before government starts the […]


Tax Diary July/August 2018

July 6th, 2018

1 July 2018 – Due date for corporation tax due for the year ended 30 September 2017. 6 July 2018 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2018 – Pay Class 1A NICs (by the 22 July 2018 if paid electronically). 19 […]


Director minimum salary levels 2018-19

July 6th, 2018

Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce National Insurance Contributions (NIC), and in some cases income tax. The planning strategy is to pay a salary at a level that qualifies the director for state benefits, including the state pension, but does not involve payment […]


Self-employed tax bills

July 6th, 2018

Whether you pay income tax or National Insurance, the effect on your cash flow is the same. The payments are a necessary part of our obligation to fund the activities of State, but the self-employed are often surprised that their bi-annual tax payments cover both “taxes” – NIC and income tax. The weekly NIC Class […]