Have you heard about the fifth self-employed grant? The fifth self-employed grant is a government initiative helping people who are self-employed. It’s due to be paid out over the summer months, covering the periods between May 2021 and September 2021. Today’s vlog...
How to complete the W-8BEN-E form is not a party trick or something to impress your friends. It’s a must do if you're a non-US tax resident company, partnership or a charity receiving income from the United States. Do you want to stop 30% withholding tax from being...
How you should complete W-8 forms is a must if you do business with the US. It’s also a must if have investments in the US or earn income in the US. For example, you tubers, sole traders, UK resident companies, Individual taxpayers, will all come under these rules....
Filing your tax return early, what nonsense is this ? Are you tired of rushing to complete your tax return at the last minute? Do you dread the thought of sorting through endless receipts and documents? Filing your tax return early can provide many benefits. In this...
You are here because you want to know Should you pay off your Bounce Back Loan . Many of you would have already received some notices from your bank advising you that your Bounce Back Loans are coming up for repayment. A key question is should you pay them back now?...
Sole trader or limited company and Choosing your business structure to save tax ? Previously I talked about the differences between a sole trader and limited company. What you need to consider when deciding what business structure, you should adopt. You cannot make...
This blog and video looks at New Capital Gains rules for UK property, and how they affect you. Death and taxes, the two certainties in life, we can’t plan and control the first event, taxes are a different story. If you are a UK resident or non UK resident thus...
How to budget for your tax bill- this is not as hard as it may seem. Firstly, imagine the money you have in your account right now as shared funds. Some belong to you, some does not (kind of like a lotto syndicate but less fun). Now with that in mind, if possible, you...
Tax-free company benefits Today I'm going to talk about trivial benefits and Tax-free company benefits. Firstly, your business can pay your staff, and can pay yourself if you're an employee of your company. These are nice to have, no tax to pay, saves you some money,...
Tax, you can't avoid it. If you are a business owner tax and your self-employed business is something you consider. If you don't take tax into account, 'bites and arses' will figure somewhere. Today's blog will talk about the tax and your self employed business. In...
Firstly, what's your view of your business numbers - Friend or foe? Secondly, if you are in business, how do you think of your numbers, with love, with dislike, or somewhere In between? That is what we are going to look at in this blog. . If you think that money is...
Self Assessment Firstly, Self Assessment was introduced by the Inland Revenue (HMRC) in April 1996. Secondly, this tax system used to assess and collect Income and Capital Gains Tax. This vlog looks at How to prepare your tax return 21-22 Some important things to...
Artists tax: Averaging Relief Artists Tax- Averaging Relief is designed to help artists who have significant fluctuating income from one year to the next. The tax consequence of this fluctuating income could be no tax to pay when profits are low, followed by paying...
Tax Return: Dates and payments To clarify, the two previous blogs have looked at who must prepare a personal tax return, and what can be claimed. Your personal tax return includes details of your income and capital transactions. Our focus today is 2020-21, 6th of...
To clarify, making the correct Construction Industry Scheme (CIS) deductions is one of the schemes conditions. So, are you doing it correctly? Firstly are you working in construction? Secondly are you a contractor, subbie, advisor, all of those? If so this article will/should provide some value. Payments to sub-contractors: travel, subsistence and accommodation Under the Construction […]
Personal Tax: What expenses can we claim? Today, we will tell you what expense claims can be made for your Personal Tax Return. Previously we talked about that, pencil in the aorta time, tax return season. I get loads of clients saying, Mahmood, we’re putting our...
Firstly, Personal Tax return season (Self Assessment) 2019-20 finishes on 31st January 2021. Secondly, you may have done yours, so relax, but if you've not read on. I'll start by looking at the first steps and then proceed from there. Some important stuff to things...
Value Added Tax (VAT) registration, doing it sooner and being an unpaid tax collector seems crazy. It looks complicated, not to mention time-consuming. However, with the right help and guidance, VAT registration, operating it and invoicing are straight-forward and easy to navigate. Your business must register for VAT if Your taxable supplies, including zero-rates sales, […]
Tax-free benefits for you and your employees Certainly paying tax-free benefits to yourself and/or your employees is a great situation. Most importantly there is no tax or NIC to pay. In addition, your company can deduct the costs from business profits. Above all the benefit must be paid for. In other words, don’t provide the […]
Company cars: Are low emissions cars tax efficient? First of all significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs). The taxable benefit arising on a car is calculated using the car’s full manufacturer’s published UK list price. It includes the full value of […]
Salary, dividends & benefits Salary, dividends & benefits and how to pay yourself. We will throw some numbers in to show the financial difference. Furthermore we will be looking at other options that can really ramp up the savings. Company owners and directors often ask us “do I pay myself salary and dividends, and how […]
VAT- What is it? It is a tax on sales, not profit. It is a multi-stage tax, charged at each stage of the business cycle on the “value added” at that stage. Most importantly the basic principle is that it is actually paid by the non-VAT registered customer. It It is charged on the taxable […]
A guide to filing your tax return Firstly, being an early bird can really help reduce your stress levels. It will give you more time to just get on with your business and your life. Secondly, we have put together a short guide if you want to complete your own. Moreover, if after watching our […]
Above all, profit & your break-even point are so important to businesses that we’ve dedicated this blog and clip to this subject. As a result you might be wondering why knowing about this is important. Stay with me as we look at break-even. In short the bottom line is knowing your gives you better […]