Pension Funds and Limited Company Contributions
Recent discussions that I have had with business owners have given me the impression that there is a lot of mistrust out there of IFAs and managed pension funds. Whilst admitting that there are always exceptions, what follows below are the results of some enquiries I...
Latest Tax News
I have just received the attached from my professional subscription service. Basically, it means that there is next to no chance nowadays of getting any kind of an answer from a human being in HMRC on any tax question. You will have to use HMRC’s online services or...
Companies House fees from 1 May 2024
Companies House Fees are increasing on 1 May 2024.
What this means for you, please take a look.
Budget 6 March 2024
The Chancellor delivered his Spring Budget on 6 March 2024. This is a summary of how it may affect you. More details should be announced by the Government in due course. National Insurance From 6 April 2024, the main rate of employee’s NIC is reduced to 8 per cent,...
Business Network – Services offered
I’ve recently joined a networking group of business owners. We meet together each week to share leads and referrals. I find it much better working with people who I know I will see regularly, than with “cold callers”. Thus, if you are looking for a reliable person who...
Tax Tribunal Hearing
On 31 January 2023, I am due to attend a tax tribunal with a view to considering whether one of my clients should, or should not, have applied for grant funding from the Government for businesses affected by the Covid pandemic. One of the questions that I hope we will...
The Income of Authors
I recently read a Linkedin post in which someone reproduced a graph showing the average level of income received by authors. It seems to have undergone a steep decline over the last ten years or so. In an ideal world, the Society of Authors would have picked up on...
I have a secret admirer!
I have just received a bottle of Chivas Regal scotch whisky, which I shall drink with great enjoyment, but there was nothing on or inside the packaging to say who it was from. Therefore, I can’t say thank you in person to the sender. If you’re reading this and you...
Changes to tax for the self-employed
This affects everyone who is self-employed, including partners in partnerships. At present, if you are self-employed and your accounting date (that is, your business year-end) is not 31 March or 5 April, your profits are taxed in the tax year in which your accounting...
Retirement planning: Property or Pension?
I am booked to attend an online meeting with the ACCA and wealth managers on the topic: “Property vs Pension: how to generate an income in later life” on 7 October 2021 at 12 noon. I’m aware this is a hot issue and I am therefore inviting questions from anyone reading...
Tax & national insurance increases explained
This affects everyone earning a salary or receiving dividends and everyone who is self-employed, including partners in partnerships. National Insurance From April 2022, national insurance rates will increase by 1.25 per cent. This applies to both Class 1 and Class 4...
Making Tax Digital
HMRC are proceeding with their plans to digitise tax administration. We believe that they will further develop their systems so that, when a VAT return is submitted online, they will interrogate the software used for the VAT return submission and ask it if VAT has...