by Fern Robinson | Aug 3, 2022 | Accounting, Business, Employment
What is the Entrepreneurs Circle? The Entrepreneurs Circle is a great networking group which enables likeminded business owners to come together and share strategies, ideas, and advice in order to help each other’s business to grow. When you become a member of the EC,...
by Fern Robinson | Aug 1, 2022 | Accounting, Business, Finance
What qualifies for private residence relief? Private residence relief is a well-known relief but one which is often misunderstood. It applies to remove the liability to capital gains tax that would otherwise apply where a homeowner makes a gain on the disposal of...
by Fern Robinson | Jul 30, 2022 | Accounting, Business, Finance, Taxes
What is the higher section charge on loans of directors? Directors and shareholders in close companies are often able to influence the payments that are made to them. Broadly, a close company is one that is controlled by five or fewer shareholders. Personal companies...
by Fern Robinson | Jul 26, 2022 | Accounting, Business, Finance
What do I do with receipts and expenses after closing my company? Sometimes a business may have ceased trading but then receives income or incurs expenses that have not been included in the final cessation accounts e.g. an insurance payment may be received or a debt...
by Fern Robinson | Jul 22, 2022 | Accounting, Finance, Taxes
What are the pros and cons of the VAT flat rate scheme? The flat rate scheme offers VAT registered traders who meet the eligibility conditions a simpler way to work out the VAT that they need to pay over to HMRC. However, while it may save work, it may also cost more...
by Fern Robinson | Jul 19, 2022 | Accounting, Employment, National Insurance
What are the changes to National Insurance for the self-employed? If their profits are high enough, the self-employed pay two classes of National Insurance contribution – Class 2 and Class 4. Class 2 contributions are flat rate contributions of £3.15 per week for...
by Fern Robinson | Jul 17, 2022 | Accounting, Business, Taxes
What are the different tax rules for letting property? From a tax perspective, all lets are not equal, and the rules that apply to furnished holiday lettings are different to those applying to traditional buy-to-lets. Buy-to-let Under a traditional buy-to-let, a...
