by Sian Smith | Jan 31, 2023 | Accounting, Personal Accounting, Tax
Self-Assessment Tax Returns – the basics Tax is usually deducted from wages and pensions (via PAYE). People and businesses with other income must report it in a self-assessment tax return – the system HMRC uses to collect income tax outside of PAYE. The deadline...
by admin | Oct 10, 2022 | Accounting
With the Christmas season just around the corner, it’s nice to acknowledge your suppliers/business partners and say thank you for another year of great service. But what corporate gifts can you send that avoid the usual cliches of Yule logs and festive hampers?...
by admin | Oct 4, 2022 | Accounting
If the rules around social functions are followed, staff events like your end-of-year party, or your summer barbecue are tax-deductible for you, as the employer, and tax-free for your staff. This means you can claim back some of the expenses you incur when putting on...
by admin | Sep 7, 2022 | Accounting
Giving occasional gifts to your staff is a great way to keep them engaged and motivated. But how much can you give before these gifts become taxable? Certain lower-value gifts can be given to employees (including directors) tax free. These have to be classed as...
by admin | Jul 4, 2022 | Accounting, Tax
Which business expenses are tax allowable and which aren’t? The question we get asked more than most. Here we explain the key differences between allowable and disallowable costs, so you can maximise your tax planning. How you minimise the tax owed by your...
by admin | Jun 15, 2022 | Accounting
Here we’ll examine the legal, accounting and tax requirements and how this affects you and your business compliance needs. The law determines the outlines of how you can trade as a business and that you meet the correct compliance standards. Getting this right...
