Year-end tax planning tips

As the end of the 2018/19 tax year approaches, it is worthwhile taking time for some last-minute tax planning. Here are some simple tips that may save you money. Preserve your personal allowance: the personal allowance is reduced by £1 for every £2 by which income...

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Salary v dividend for 2019/20

A popular profits extraction strategy for personal and family companies is to extract a small salary, taking further profits as dividends. Where this strategy is pursued for 2019/20, what level should be the salary be set at to ensure the strategy remain tax...

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How To Avoid Late Payments

Late payments - a big concern for small business owners! In an ideal world, all businesses would be paid on time, or even early, for their products and services. And while there are some people out there who are diligent in their payment efforts, sadly there are a lot...

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VAT – Should You Leave The Flat Rate Scheme?

Let’s get something out in the open right now – VAT is not a scary word. VAT, or value added tax, is just another part of running a business in the UK. Most businesses in the UK who sell products have to be registered for VAT, and most who offer services as well too....

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