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Incorporating A Property Business – Is It Worth It?

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May 2021

11

November 2021

Incorporating A Property Business – Is It Worth It?

It is quite often the case that when individuals invest in second properties, at least part of the purchase price is raised through a mortgage. As a result, obtaining tax relief for the interest costs of the mortgage tends to be a key part of the financial equation for these investors. Of all the taxation changes in recent years, the phased introduction of finance costs relief restriction in 2017 has been the most worrying for private residential landlords. Some highly geared property businesses that are currently healthy and profitable could suffer tax charges in excess of their profits once the restrictions are fully operational from April 2020 onwards.

The VAT Domestic Reverse Charge

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May 2021

9

November 2021

The VAT Domestic Reverse Charge

The beginning of March saw a major change in the way VAT is handled by contractors and sub-contractors in the construction industry with the introduction of the VAT domestic reverse charge (VDRC).

Why Your Small Business Needs An Accountant

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April 2021

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November 2021

Why Your Small Business Needs An Accountant

If like many new business owners, you find yourselves thinking that as a small business, you are able to manage your own accounting and bookkeeping, this may be for you.

Pickpockets At The Treasury?

5

April 2021

9

November 2021

Pickpockets At The Treasury?

When the Chancellor announced his budget measures last month, much was made of the increases in Corporation Tax and the maintenance of the headline rates of Income Tax and National Insurance. However, little was said about the freezing of the personal tax allowances and tax thresholds other than to describe it in some quarters as a “stealth tax”

Getting Incorporated

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March 2021

9

November 2021

Getting Incorporated

If you are starting out in business and thinking about how you would like to set yourself up, the idea of having your own limited company probably feels quite attractive. But if you’ve never owned or run your own company before, how easy is it to set one up?

Gov’t Coronavirus Schemes To Be Extended Beyond Lockdown

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March 2021

9

November 2021

Gov’t Coronavirus Schemes To Be Extended Beyond Lockdown

The government’s coronavirus support schemes will be extended beyond the timetable for opening up the economy, to help recovery. ICAEW’s Tax Faculty highlights the main Budget announcements. The wide range of support announced includes extensions to the two major income support schemes alongside extensions of financial assistance in other areas, such as universal credit, tax credits and stamp duty land tax.

Cash Management In A Pandemic

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March 2021

9

November 2021

Cash Management In A Pandemic

The phrase “Turnover is vanity, profit is sanity but cash is king” was coined for a reason. Few things are more important to any business than cash flow, as with a healthy cash flow, you can pay your debts on time, sustain your operations and expand your business. Without it, you’re only a few missteps away from financial ruin.

Chancellor Freezes Tax Allowances

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March 2021

9

November 2021

Chancellor Freezes Tax Allowances

The income tax personal allowance and higher rate threshold will be frozen from 6 April 2022 until 5 April 2026. The capital gains tax annual exempt amount, the pensions lifetime allowance and the IHT and residence nil rate bands, meanwhile, will be frozen at their current rates.

Choosing A Business Bank Account

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March 2021

9

November 2021

Choosing A Business Bank Account

Choosing and setting up a business bank account is an important first step when setting up your business, so it pays to take care when deciding which bank to go with and the kind of account to open. With a plethora of on-line and high street banks now out there, it can be time consuming to research and make sense of what is on offer from the various different providers

To Incorporate or Not To Incorporate?

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March 2021

9

November 2021

To Incorporate or Not To Incorporate?

The question of whether a business should incorporate or not crops up often and for small businesses, is potentially very important as there are a number of tax and regulatory considerations which need to be taken into account.

Deferred Your VAT Bill From Last Year ?

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February 2021

9

November 2021

Deferred Your VAT Bill From Last Year ?

Having to pay your tax bill is never an inviting prospect but if you are amongst those who deferred paying their VAT last year because of the Covid crisis, the VAT deferred will soon become due for payment. However, if times are still hard or if you continue to worry about your cash flow, there are options for you.