Up To £25k Annual Investment Allowance

With most types of plant and machinery there is an Annual Investment Allowance (up to £25,000). To maximise relief, spreading  the cost of qualifying expenditure over two years can be advantageous. Typically, if you make a purchase just before the end of the accounting year you will qualify for allowances a year earlier. Disposing of [...]

Christmas Greetings & Charity Donation

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National Loan Guarantee Scheme

Small businesses could benefit from cheaper rate borrowing due to the new National Loan Guarantee Scheme (NLGS) that was launched in March this year by the Chancellor. This will allow small businesses more access to cheaper finance. Up to £20 billion of Government guarantees will be provided on unsecured borrowing by participating banks, which will [...]

Tips for Starting Your Own Business

Individuals starting up their own business can be tempted to cut out the middle man by doing everything themselves to minimise costs. This however is not always recommended, as this can be a false economy. It is usually more beneficial for your business to hire a skilled professional to carry out the services they are [...]

Important Dates in March 2012

2nd March 2012 Last day to pay any balance of 2010/11 tax and Class 4 NICs to avoid an automatic 5% late payment penalty.   31st March 2012 End of Corporation Tax financial year. Filing date for Corporation Tax Return Form CT600 for period ended 31st March  2011. Image Copyright Dale Rockell Photography

Working Flexible Hours

Employees requesting flexible working hours are currently only eligible if they are a parent of a child under the age of 17, or 18 if the child is disabled, or have caring responsibilities for adults. This also only applies if the individual has at least 26 weeks continuous service with their company. This is set [...]

References

Employers don’t have to give references, but if they choose to do so, they must ensure that they are fair. Many employers choose to give only basic references, stating the job title, dates and reason for leaving. In this case, this will probably prompt a phone call being received from the individual’s new employer requiring [...]

Emission Taxes

The benefits of a company car now come with emission taxes that apply to both directors and employees. These rates can be very expensive, so it is worth finding out whether the car can be owned by you personally, instead of the company.  If this is the case, then you are able to claim back [...]

TAX DEADLINE REMINDER

This is a final reminder for all those people who are self-employed  who are required to submit Self Assessment Personal Tax Returns. To avoid a penalty of £100, electronic submission of tax returns is required not later than 31st January 2012.  The penalty will apply even if there is no tax to pay, or if [...]

13 FREE Tax & Money Saving Tips: Part 3

I am pleased to be able to give you now the final chapter in our tax and money saving tips; Claim your tax credits – £3.7 billion is not being claimed.  You don’t lose anything by ringing up and asking. Review your savings. Plan ahead regarding capital gains and inheritance taxes.  When you are old, [...]