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Not Making Tax Digital quite yet then…….!
Posted by Jon Pryse-Jones on April 28, 2017

Delaying in Making Tax Digital I have a personal confession to make….I haven’t spent as much time researching all the ins and out of this new-fangled MTD concept yet as I probably should have done. That’s possibly because I have painful past memories of researching new government initiatives to death, spending a load of time

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HMRC making tax digital
Don’t drive like Jay Kay; you’ll only come in second
Posted by Jon Pryse-Jones on April 27, 2017

New speeding fines You will probably have heard about the new speeding fine regime that took effect on Monday. I often wonder where these changes emanate come from. To me, they just seem to arrive out of the (boys in) blue and be presented to the likes of you and me as “fait accompli”. We

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New speedy fine regime 2017
Have you de-registered for VAT recently? Don’t forget to claim back the VAT on any bad debts.
Posted by Jon Pryse-Jones on April 25, 2017

Claiming back VAT Many small businesses VAT registered in the first instance to take advantage of the flat rate scheme. Following the recent 2017 budget many of these advantages no longer remain and many small businesses now need to consider whether it’s better to de-register – see here. Once that step has been taken and

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Claiming back VAT
How to earn £2,000 without having to tell the taxman
Posted by Nigel Reynolds on April 24, 2017

Tax-free allowances “A little bit added to what you’ve already got,” as P.G. Wodehouse was fond of pointing out, “gives you a little bit more.” We can’t argue with that. And if you’d like to add a tax-free £2,000 to your income (or £4,000 if you are married), then draw up a chair and listen…

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tax free money
Are you in the “GIG ECONOMY”?
Posted by Jon Pryse-Jones on April 19, 2017

If so, watch out for the taxman….. The growth of the UK’s ‘gig economy’ means that tax investigations are on the increase. The ‘gig economy’ refers to companies such as Uber and Deliveroo who use short-term or freelance contractors rather than permanent employees.

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GIG ECONOMY
Self-employed and work from home?
Posted by Jon Pryse-Jones on April 18, 2017

What can you claim You can either claim any additional running costs of working from home based upon the actual costs and space used or, if you work more than 25 hours a month from home you can claim a flat rate.

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self employed
Use computer software to prepare and file your 2016/17 tax return and you could overpay tax – this is why……
Posted by Jon Pryse-Jones on April 12, 2017

Preparing for your tax return with software Tax software is supposed to make our lives so much easier. In an ideal world it is there to apply all of HMRC’s rules to the income figures you submit, calculate your tax in a jiffy and make sure you don’t pay a penny more than you should.

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tax return
ATED HATED?
Posted by Jon Pryse-Jones on April 6, 2017

Do you have a company which owns residential properties valued at over £500k? If you do, then you may have to file ATED returns (Annual Tax on Enveloped Dwellings) and pay additional taxes on them.

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ATED
Spend more time on what’s important for your business
Posted by Jon Pryse-Jones on April 5, 2017

How to do more of what you want (and less of what you don’t!) One thing’s for sure when you own a business. It’s time-consuming. No matter what type of business you own, your time will soon be maxed out by admin tasks such as invoicing, marketing and meeting new customers.

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more time to do what you want
IR35 – could the taxman’s new online “tool” damage your health?
Posted by THP on April 4, 2017

Changes to the IR35 Somewhere in the inner circles of hell is a place where forlorn spirits are being tormented with the changes to the IR35 regime that are being introduced this April. The changes are essentially a tax grab.

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HMRC online tool
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