Tax

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What Is a Company Unique Taxpayer Reference (UTR) Number?

By |2019-02-20T10:07:04+00:00January 7th, 2019|Categories: Accounting, Company Formation, Document Filing, Tax|

When starting your own business there are many different numbers and codes your company will acquire and it can be difficult to remember which codes are used for different services. One of the most important numbers your company will receive is the Unique Taxpayer Reference (UTR). This code is issued by HMRC and consists of [...]

Paying Stamp Duty When Transferring Company Shares

By |2019-02-20T09:59:35+00:00May 4th, 2018|Categories: Accounting, Tax|

As of 13 March 2008, HMRC introduced new regulations which means any share transfers with a value of £1000 or more must pay stamp duty. The value of the transfer does not have to be a cash transaction, the value is based on the ‘chargeable consideration’ that is given for the shares. The chargeable consideration [...]

Tax on Christmas Parties and Gifts for Employees

By |2019-02-19T15:58:36+00:00December 7th, 2016|Categories: Tax|

Christmas is rapidly approaching and many businesses will be organising Christmas parties and thinking about Christmas gifts. Companies can be very generous at this time of year and spend hundreds or thousands of pounds on employees. Now is the time to consider the tax implications and understand what HMRC will and won’t allow. Christmas is [...]

Self-Assessment for Company Directors

By |2018-02-21T16:37:46+00:00May 18th, 2016|Categories: Accounting, Tax|

Unlike employees of a company, directors are required to file self-assessment tax returns to calculate and pay any income tax and national insurance contributions they owe. Company directors must register with HMRC for Self-Assessment before they can send their tax returns. When you are employed by a company your employer provides the information to HMRC. [...]

Choosing your Company Accountant – What Should you Consider?

By |2018-02-20T17:02:15+00:00December 6th, 2015|Categories: Accounting, Tax|

Having registered a new limited company most new business owners will look for an accountant to assist them in the preparation of end of year accounts, tax returns and financial statements. Whilst the accounting industry is regulated by several different bodies, this is no guarantee that all accountants will be suitable for your business. As [...]

The Autumn Budget 2014

By |2018-02-21T16:38:42+00:00December 4th, 2014|Categories: Accounting, Tax|

How does the Autumn Budget affect businesses? In the pursuit of economic stability, Chancellor George Osborne has detailed the spending and saving plans that together make up the Autumn Budget 2014. Economic uncertainty has been commonplace in past budgets but there is certainly a sense of optimism with the plans announced today. The rise of [...]

The Budget 2013 Summary – What You Need to Know

By |2018-02-28T10:04:12+00:00March 21st, 2013|Categories: Accounting, Company Formation, Tax|

George Osborne opened this year’s budget by highlighting that economic recovery was taking longer than expected but stated that it is this government’s ‘aim to set free the aspirations of this nation’. In a rather hostile environment, that many viewers find amusing whilst others find it annoying, the chancellor continued by revising the growth expectations [...]

Save Money – Switch to the Flat Rate VAT Scheme!

By |2018-02-27T11:05:25+00:00March 19th, 2013|Categories: Accounting, Tax|

The flat rate scheme of VAT registration is often preferred by small businesses. Registering under the flat rate scheme instead of registering under the standard rate can reduce the amount of vat that your business has to pay to the government. The standard rate of VAT is currently 20% (2013) whereas the flat rate scheme [...]

Round Up of Your Company Filing Deadlines – What’s Next?

By |2018-02-27T16:51:31+00:00February 27th, 2013|Categories: Accounting, Companies House, Document Filing, Tax|

Have you met all those important deadlines? Is there a deadline looming for you or your business that you need to keep on top of? Here we round up the latest deadlines that you may need to be aware of. This latest update on what deadlines are currently due for personal and business taxpayers plus [...]

Is Your Company Ready for RTI – Real Time Information?

By |2019-02-18T11:47:18+00:00January 15th, 2013|Categories: Accounting, Tax|

PAYE was first introduced over 70 years ago and the move to Real Time Information (RTI) is the biggest change to reporting taxpayer information to HMRC since it was started. The latest changes have been implemented to provide up-to-date information to HMRC instead of filing returns at the end of the financial year. It is [...]