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3 days ago2 min read
Beware of diverting dividends to minor children to fund education | Outsourced Financial | Outsourced Bookkeeping Services
Owners of personal and family companies frequently pay themselves a small salary and extract further profits as dividends. To utilise the...
3 days ago2 min read
Tax and influencers | Outsourced Financial | Outsourced Bookkeeping Services
Earlier this year, HMRC sent ‘nudge’ letters to social influencers who they suspect may not have declared the tax that they owe. They...
3 days ago2 min read
Paper version of capital gains tax on UK property return | Outsourced Financial | Outsourced Bookkeeping Services
Where an individual realises a chargeable gain on the disposal of a UK residential property, they must report the gain to HMRC within 60...
3 days ago2 min read
Check your business rates are not too high | Outsourced Financial | Outsourced Bookkeeping Services
Business rates, rather than council tax, are charged on most non-domestic properties, such as shops, offices, warehouses, pubs,...
3 days ago2 min read
Extracting profits from a property company | Outsourced Financial | Outsourced Bookkeeping Services
Recent tax changes, in particular the interest restriction for unincorporated property businesses with residential lets, have resulted in...
3 days ago3 min read
Capital allowances on leased assets – Options for tax relief | Outsourced Financial | Outsourced Bookkeeping Services
The decision to acquire a business asset, be it a van or any other type of machine, will generally depend on how it is intended to...
3 days ago3 min read
Voluntary disclosure | Outsourced Financial | Outsourced Bookkeeping Services
Voluntary disclosure involves individuals or businesses coming forward to inform HMRC of any errors or omissions in their tax returns,...
3 days ago3 min read
Separating couples – Importance of checking your child benefit claim| Outsourced Financial | Outsourced Bookkeeping Services
The High-Income Child Benefit Charge (HICBC) is a tax charge that claws back child benefit where the claimant or his or her partner have...
3 days ago2 min read
Common NMW errors to avoid | Outsourced Financial | Outsourced Bookkeeping Services
Common NMW errors to avoid Workers are entitled to be paid the National Living Wage (NLW) or Minimum Wage (NMW) for their age. Employers...
3 days ago2 min read
Relief for pre-trading expenses | Outsourced Financial | Outsourced Bookkeeping Services
In setting up a trade it is inevitable that expenses will be incurred before the trade actually commences. Expenses may be incurred on...
3 days ago2 min read
Can I deduct the higher interest costs of my new fixed rate mortgage? | Outsourced Financial | Outsourced Bookkeeping Services
Landlords coming to the end of their fixed rate mortgage deal are likely to be paying considerably more in interest when they remortgage....
3 days ago2 min read
Letting the FHL for longer periods during the off-season | Outsourced Financial | Outsourced Bookkeeping Services
Letting holiday properties, particularly in coastal resorts, may have a strong seasonal bias, and when business is slow during the...
3 days ago2 min read
Is a derelict property still a residential property for SDLT purposes? | Outsourced Financial | Outsourced Bookkeeping Services
The issue of whether a derelict a residential property and liable to stamp duty land tax (SDLT) at the residential rates was considered...
3 days ago3 min read
VAT –Exceeding threshold temporarily – What can be done? | Outsourced Financial | Outsourced Bookkeeping Services
Most business owners know that VAT registration is a legal requirement should total taxable turnover for the previous 12 months exceed...
3 days ago3 min read
Redundancy –Taxation of payments | Outsourced Financial | Outsourced Bookkeeping Services
Making any employee redundant is a difficult decision and potentially distressing for all involved. Getting the process wrong could...
3 days ago4 min read
What home-office expenses are deductible for your business? | Outsourced Financial | Outsourced Bookkeeping Services
With greater use of home-working now the norm for many UK businesses, it’s important to think about the deductible expenses that you may...
3 days ago2 min read
Can directors and employees receive gifts from the company tax free? | Outsourced Financial | Outsourced Bookkeeping Services
Giving gifts to your employees can be a great way to increase engagement and raise the overall morale of your team. But how much can you...
3 days ago3 min read
Company year-end preparations: time to get ready | Outsourced Financial | Outsourced Bookkeeping Services
As your company year-end date gets closer, there are a number of administrative and financial tasks to start planning for – so it’s a...
3 days ago3 min read
Are employee parties tax-free? | Outsourced Financial | Outsourced Bookkeeping Services
If the rules around social functions are followed, staff events like your end-of-year party, or your summer barbecue are tax-deductible...
3 days ago2 min read
Plain English guide to profit and loss | Outsourced Financial | Outsourced Bookkeeping Services
Here's our Plain English guide to profit and loss and what this report reveals about your finances. What is profit and loss? Your profit...
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