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Tips and Advice to help you grow your business

Planning for the future – what insurance cover is relevant to you?

When you are planning for the future for you and your family, taking out life cover will give you considerable peace of mind from unforeseen circumstances. This can easily be overlooked when you are self-employed, or own a small business, and are busy with other priorities. Did you know that you could buy life insurance for… Read More

Finance cost relief on rental income

From April 2017, the Government are gradually introducing changes to finance cost relief. Up until now, if you were a landlord, you could deduct all your finance costs from your rental income to arrive at the property income chargeable for tax. However, with effect from April 2017, the relief is now restricted to the basic… Read More

Provision of Benefits by Salary sacrifice

When provided through salary sacrifice, all exempt benefits will become taxable with effect from 6 April 2017. As defined in the HMRC guidance “A salary sacrifice arrangement is an agreement between an employer and an employee to change the terms of the employment contract to reduce the employee’s entitlement to cash pay. This sacrifice of cash entitlement… Read More

Your Personal Tax Bill – April 2017

With effect from April 2017, your personal tax bill should be improving. Here’s what you need to know… There will be a tax saving as your personal tax allowance will increase to £11,500, and the basic rate band increases to £33,500. This means you won’t pay the higher rate of tax on any income up… Read More

Changes to the VAT flat rate scheme

With effect from April 2017, there will be changes to the VAT flat rate scheme. For each VAT period, all companies on the VAT flat rate scheme (FRS), will be required to assess if they are a limited cost trader. What is a limited cost trader? A company whose total expenditure on “goods” purchased is:… Read More

How can gift aid help you save tax?

The UK has a reputation across the world for being a nation of generous donators to charity. You may be aware that gift aid can boost the income of your chosen charity. If you are a UK taxpayer, you can sign a gift aid declaration, which enables your charity to receive an additional 25p from the government… Read More

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