Tax credits top-up
The Cost of Living support package has been designed to help over 8 million households...
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Marriage allowance entitlement
The marriage allowance applies to married couples and those in a civil partnership where a...
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Tax relief on pension contributions
Taxpayers can usually claim tax relief for their private pension contributions. There is an annual...
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Full expensing
The full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into...
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Hold-over gifts relief
Gifts Hold-Over Relief is a tax relief that effectively defers Capital Gains Tax (CGT) that...
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Time to Pay tax
If you are having trouble paying your tax on time you may be eligible to...
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Closing the door on tax planning
When the end of a tax year passes, the 5 April 2024 for the current...
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Why breakeven analysis can be illuminating
If you focus your energy on sales, there is a chance that your efforts will...
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Tax Diary December 2023/ January 2024
1 December 2023 - Due date for Corporation Tax payable for the year ended 28...
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Help to Save bonus payments
The Help to Save scheme is intended to help those on low incomes to boost...
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TAX AVOIDANCE VS TAX EVASION
What is the difference between tax avoidance and tax evasion? The simple difference is that...
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TAXATION NEWS
CUT TAXES TO BOOST LABOUR MARKET, REED CHAIRMAN URGES. The chairman one of the UK’s...
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INCREASE YOUR PROFITS
Many small and medium sized Companies use a traditional approach to taking salaries and dividends...
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THE PERFECT BUSINESS PLAN
If you are about to start a business, setting a business plan will help you...
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INDIVIDUAL TAX RATES
TAX RATES Below is a resume of applicable tax rates for individuals in the UK. ...
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THE IMPORTANCE OF MANAGEMENT REPORTING
Management reporting is essential for businesses to assess their performance, identify areas of improvement, and...
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IMPORTANCE OF FINANCIAL REPORTING
Financial reporting is critical for businesses to provide information about their financial performance to stakeholders,...
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TAX PLANNING INITIATIVES
To help with tax planning for the 2023/24 tax year we are putting together a...
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THE IMPORTANCE OF A GOOD ACCOUNTANT
Making sure you have a good accountant is essential for being tax and business efficient. ...
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ACCOUNTING FOR CONTRACTORS
Accounting for contractors typically involves a number of specific considerations that differ from those involved...
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PUBLIC ACCOUNTS COMMITTEE (PAC) PUBLISH DAMNING REPORT INTO IMPLEMENTATION OF OFF-PAYROLL RULES ON PUBLIC BODIES
The report is scathing in its criticism of HMRC implying that HMRC have failed to:...
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IS IT WORTH SETTING UP A LIMITED COMPANY AND WILL IT SAVE TAX?
We have written numerous articles on this subject in the past but just recently new...
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INHERITANCE TAX PLANNING
Inheritance tax is a tax on the ‘estate’ of someone who’s passed away. Many people...
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SOLE TRADER OR LIMITED COMPANY WHAT IS BEST?
We have written a number of articles on this subject in the past. When setting...
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AUTUMN BUDGET IN BRIEF
On Wednesday 27 October the Chancellor of the Exchequer delivered his Autumn Budget. Appropriately close...
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THE FIFTH AND FINAL SELF-EMPLOYED INCOME SUPPORT SCHEME (SEISS) GRANT
HMRC has issued guidance on claiming the fifth and final SEISS grant. We are going...
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BOUNCE BACK LOANS FAQS
We are going to look at the most frequently asked questions by limited company directors...
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BOOKKEEPING TIPS
Vitally important that small businesses keep up-to-date records and take good care of bookkeeping. So,...
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ACCOUNTANTS TAX TIPS FOR LANDLORDS
LIMITED COMPANY VS PRIVATE OWNERSHIP – WHAT IS BEST? Mainly due to changes in mortgage...
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14 THINGS YOU DIDN’T KNOW AN ACCOUNTANT COULD DO
(Small business guides – written by Xero software) Accountants do more than you think. They...
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4 THINGS YOUR ACCOUNTANT CAN DO THAT ISN’T YOUR TAX RETURN
For both new business and those that have a long trading history, an accountant can...
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REFORM OF R&D TAX RELIEFS GOVERNMENT CONSULTATION
Currently R&D reliefs are available under two schemes and to a certain degree there is...
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5 POST PANDEMIC SITUATIONS WHERE ACCOUNTANTS ARE MORE RELEVANT THAN EVER
The Coronavirus pandemic has undoubtedly been one of the most significant catalysts for economic shake...
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TAX TIPS FOR THE 2021/2022 TAX YEAR
To help with tax planning for the 2021/22 tax year we have put together a...
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INCOME TAX & DIVIDEND PAYMENTS
As the tax year comes to an end it is a convenient time to recap...
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REVERSE VAT CHARGE SCHEME CIS
THE CONSTRUCTION INDUSTRY SCHEME (CIS) VAT REVERSE CHARGE SCHEME The CIS VAT domestic reverse charge...
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WORKING FROM HOME
You may be able to claim tax relief for additional household costs if you have...
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BREXIT DEAL SALIENT POINTS
FISHING The UK becomes an independent coastal state and can control access to its waters...
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MAKING TAX DIGITAL – NEXT STEPS
MAKING TAX DIGITAL – VAT Making Tax Digital (MTD) for VAT was launched in April...
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VIRTUAL CHRISTMAS PARTIES
Virtual Christmas parties will qualify for tax exemption. Still plenty of time to hold that...
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SMALL BUSINESSES EMPLOYING AN APPRENTICE
It used to be just big businesses that offered apprenticeships but apprenticeships are now a...
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CHANCELLOR EXTENDS FURLOUGH AND LOAN SCHEMES
The furlough scheme has been extended until the end of April 2021 with the government...
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LIMITED COMPANY FULLY OUTSOURCED ACCOUNTING PACKAGE
OUR SOLUTIONS LIMIT YOUR ACCOUNTANCY, ADMIN AND BOOKKEEPING TO A BARE MINIMUM. Cloud software has...
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LIMITED COMPANY ALL-INCLUSIVE ACCOUNTANCY & BOOKKEEPING PACKAGES
Details For businesses that require fully outsourced bookkeeping services. The price is based on the...
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TAX SAVING TACTICS
Roger Gunning FCMA CGMA With the November budget looming and the Chancellor looking to raid...
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SELF INVESTED PERSONAL PENSION (SIPP)
THE FACTS A self-invested personal pension (SIPP) is a form of personal private pension that...
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WHY IR35 REFORM IS BAD FOR BUSINESS AND CONTRACTORS
As already widely reported the controversial reforms to off-payroll working rules will go ahead in...
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UK GOVERNMENT TIER 2 SUPPORT ANNOUNCED
The UK government announced today 22nd October new measures to support businesses and employees hit...
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CORONAVIRUS BUSINESS INTERUPTION LOAN SCHEME
The scheme is designed to support UK based small and medium-sized businesses, with a turnover...
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BOUNCE BACK LOANS
Small businesses that are impacted by the pandemic are eligible to apply for a 100%...
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TAX SAVING TIPS
We at Tax Compute do not condone aggressive tax avoidance but having said that we...
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CAPITAL GAINS TAX CHANGES ON UK RESIDENTIAL PROPERTY SALES
Prior to this new tax year 2020/21 UK residents making capital gains on UK residential...
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KEY ANNOUNCEMENTS FROM CHANCELLOR’S COVID-19 SUPPORT PLAN
Below we will set out the salient points of Rishi Sunak’s what he calls his...
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LANDMARK KICKSTART SCHEME OPENS
Young people aged 16-24 who are on universal credit will be offered a six-month work...
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SELF-EMPLOYMENT INCOME SUPPORT SCHEME GRANTS
HMRC are inviting self-employed individuals or members of a partnership who have been adversely affected...
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IR 35 REVIEW AND HOW TO STAY OUT
IR35 EMPLOYMENT VERSUS CONTRACTING In this article we will detail some tips on how to...
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CLAIMING MILEAGE ON PRIVATE AND COMPANY VEHICLES
It is worth a recap on this subject as the rules can be confusing. Employees...
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BUT-TO-LET MORTGAGE INTEREST TAX RELIEF CHANGES
Up until the tax year 2016/2017 Landlords have been able to offset 100% of mortgage...
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SELF EMPLOYED INCOME SUPPORT SCHEME
The scheme announced by the chancellor will provide grants to self-employed individuals or partnerships who...
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COVID 19 – GOVERNMENT SUPPORT
VAT Deferral main points HMRC Defers Valued Added Tax (VAT) payments for 3 months. All...
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STARTING A NEW BUSINESS
If you are thinking of starting a new business in the UK please come and...
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VAT ON BAD DEBTS
If you provided services to a client and that client goes into liquidation you can...
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SMALL BUSINESS TAX TIPS
We at Tax Compute help small businesses by providing business solutions that save
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CONTRACTOR TAX CHANGES
IR35 and the Public Sector If you are a contractor to the NHS or public...
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BENEFITS OF A LTD CO.
In this article we will look at the advantages of being incorporated versus those of...
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INHERITANCE TAX PLANNING
Inheritance Tax is paid if a person’s estate (their property, money and
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FLAT RATE VAT
Changes to the VAT flat rate scheme for the 2017/2018 tax year now mean that...
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CASH ACCOUNTING CHANGES
For the 2017/2018 Budget the Chancellor confirmed that the entry threshold
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CAR LEASING OR PURCHASING
Is it tax efficient to purchase or lease a carthrough the business? This is a...
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CHEQUE CLEARING SYSTEM
Cheques to Clear in Just 24 hours due to new technology At last an end...
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