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Accountancy may not strike everyone as exciting, but it is fast moving. We’ll keep you informed about issues we think may be of interest or relevance to you.

Year-end tax planning tips

tips for year end tax planning

Year end tax planning tips for small business owners. 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 … Read more

Salary vs Dividends

Salary vs Dividends

Salary vs Dividends – 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 remains tax efficient? As well as being tax effective, taking … Read more

Make the most of your allowances

Tax allowances

The tax system contains a number of allowances which enable individuals to enjoy income and gains tax free. In seeking to maximise your tax-free income, it makes sense to take advantage of available allowances. The following are a selection of some of the allowances on offer. Personal allowance Individuals are entitled to a personal allowance … Read more

Good Business Records

Keeping good business records

Keeping complete and accurate business records is vital to ensure that you pay the correct amount of tax and file correct tax returns with HMRC. This applies regardless of whether you are running a business as a sole trader or in partnership or operating a limited company. Business records for the self-employed The self-employed need … Read more

How To Make Sure You Get Paid On Time

How To Make Sure You Get Paid On Time

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 more who aren’t. This results in late payments, which can cause a lot of problems for … Read more