Forecasting The Future With Xero Analytics Plus Xero have just announced a powerful new tool called Xero Analytics Plus, which is available from today. Analytics Plus is the next evolution of the existing short-term cash flow and business snapshot features with greater customisation and more accurate projections. As part of this release Xero have updated […]
Xero Analytics Launch Read More »
There are new Corporation Tax rules coming in April 2023 with a gotcha for people who have related businesses. A 25% rate of corporation tax will apply to all of a company’s profits if they exceed £250,000 from 1 April 2023. The 19% rate will continue to apply where profits are below £50,000. The
New Corporation Tax Rules Coming In 2023 Read More »
The “off-payroll” IR35 working rules that apply to certain workers supplying their services to clients via their own personal service companies start from 6 April 2021. These rules were already been in place in the public sector but now apply to the private sector as well. Under this new regime end user businesses will be
New IR35 Rules Start This Month Read More »
With only a month to go there is still time to save some tax with some end of year tax planning. Here are some ideas: Use your spouse’s personal allowance If your spouse is a lower rate or non-taxpayer, it’s possible for them to transfer 20% of their unused personal allowance to their spouse
Last Minute End Of Year Tax Planning For Individuals Read More »
When your year end is approaching it’s important to take the opportunity to think about any actions you need to take to manage your tax bill. Many of these actions actually need the transactions to be carried out before the end date and can’t be backdated. Some of these actions have cash flow and balance
End Of Year Tax Planning For Limited Companies Read More »
As we mentioned in our budget blog post the 5% VAT rate that was brought in in 2020 is going to be extended. The broad details are: The temporary reduced rate of VAT of 5% will be extended until 30 September 2021 There will be a new rate of 12.5% from 1 October 2021 to
Hospitality 5% VAT Extension Until September Read More »
INTRODUCTION The Chancellor’s second real budget on the 3rd of March made some important business announcements to try and mitigate the effects of the pandemic and also to start rebuilding the nation’s finances for the future. Below we list some of the most important announcements that will affect individuals and small businesses in Scotland. The
March 21 UK Budget Update Read More »
The day after Boris Johnson outlined a roadmap out of Covid restrictions for England Scotland’s First Minister, Nicola Sturgeon, has laid out the beginnings of a roadmap to ease Covid-19 restrictions from April. Like Johnson, Sturgeon is focusing on data rather than dates, but is taking a more cautious approach than the PM. She is
Scotland Covid Roadmap – Business Impact Read More »
We often get asked whether buying residential letting property through a Limited Company is a good idea. The answer to that is…. It depends! In order to give decent advice we would need to know the circumstances of the person doing the buying and their long term intentions. However what we can do here
Pros And Cons Of Buying A Property Through A Limited Company Read More »
The Government has just update it’s guidance on paying VAT bills that were deferred due to the pandemic between 20th March and 20th June 2020. Clients have three options: Pay by the 31st of March Opt into the new deferral scheme when it goes live and pay in up to 11 smaller payments Talk
Deferred VAT Bills Now Coming Due Read More »
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