07 - June 2019Do you run a business? Should you register for VAT? What are the conditions? We answer all these questions here
View : 129
All traders – whether sole traders, partnerships, or limited companies – are obliged to register to charge and pay VAT once annual sales reach a pre-set annual threshold. This threshold remains at £85,000 for the year commencing 1 April 2019. The annual VAT threshold is determined by total sales and is not the same as […]
05 - June 2019Today’s blog covers the things you need to know about entrepreneur’s relief to reduce capital gains tax.
View : 240
Entrepreneurs’ relief is intended to reduce the rate of capital gains tax to a flat rate of 10% on certain qualifying business disposals. Certain aspects of the relief have recently changed, and this may affect any subsequent tax liability. A qualifying business disposal must include a material disposal of business assets. For these purposes, a […]
03 - June 2019Here are some tax planning tips for workplace pensions if you have employees.
View : 166
An increase in the minimum contributions employers and their staff must pay into their automatic enrolment workplace pension scheme took effect from 6 April 2019. From that date, the employer minimum contribution has risen from 2% to 3%, while the staff contribution also increased from 3% to 5%. As part of the ‘phasing’ process, the […]
11 - May 2019Tax aspects of using a work’s van
View : 116
If an employee is able to use a work’s van for private use, which generally includes home-to-work travel, there will be a taxable benefit and a subsequent tax charge. From 6 April 2019, the flat-rate van benefit charge has risen from £3,350 to £3,430, representing a small increase in real terms to a basic rate […]