affordable accountancy wirral accountants tax vat income revenue payroll

Cut Your Tax Bill in 2018

If you’re a Director of a small business, there are lots of ways to reduce your tax bill legally. Some simple checks, such as making sure you’re getting any tax credits you might be eligible for, could put money back in your pocket with minimal effort. So make 2018 the year that you max your tax benefits…

affordable accountancy wirral accountants tax vat income revenue payroll

It’s Party Time – So What Will the Taxman Let Us Have?

The Taxman’s not a complete Scrooge (no, really!), and there are some tax-free benefits to be had this Christmas. So whether it’s providing your team with a well-earned festive blowout, or giving yourself a tax free treat, here’s how to avoid the taxman’s naughty list this Christmas! Party Time! Even if your company is a personal or family…

affordable accountancy wirral accountants tax vat income revenue payroll

Directors Loans – Avoid the Pitfalls

Getting money out of your business in the most tax efficient way is a common challenge in owner managed businesses. The most common scenario is Directors taking money out in lump sums or regular amounts and at the end of the year these amounts are formalised by the company’s accountants as either Dividends, Remuneration or…

affordable accountancy wirral accountants tax vat income revenue payroll

Spouses Wages – Genuine Expense or Tax Dodge?

The Accounts for many self employed individuals contain deductions for family members especially a “spouse”. But what does the taxman make of these deductions? Most claims for these deductions are valid and can be justified providing that:   The amounts paid are realistic for the work done. Payments are recorded in the business records. PAYE…

affordable accountancy wirral accountants tax vat income revenue payroll

Avoid Tax on your Sideline Business (or Casual Trading)

These days many people have a little sideline business (casual traders) especially with the advent of online marketplaces (eBay, Amazon etc) What people forget is that income from these “businesses” is taxable and that you should be registered with HMRC and submit Tax Returns. In many cases the amounts involved are very small so people…

affordable accountancy wirral accountants tax vat income revenue payroll

An Accountant For Less Than Your Daily Coffee?

It’s surprising how little it can cost a business to make sure that its accounts are up-to-date and it’s tax burden is kept to a minimum. For many businesses the accounts and associated tax benefits can be very straightforward which is why we can offer a first rate accountancy service for a low monthly fixed…

affordable accountancy wirral accountants tax vat income revenue payroll

Making Tax Digital

The Government’s plans to modernise our tax system are well under way and will soon be affecting: Individuals (who have to submit tax returns) Self Employed Landlords All Businesses Anyone making a Capital Gain (eg sale of property)   The intention is to do away with the need to submit tax returns and that businesses…

affordable accountancy wirral accountants tax vat income revenue payroll

Marriage Tax Allowance

  How it Works Marriage Allowance lets you transfer £1,100 of your Personal Allowance to your husband, wife or civil partner – if they earn more than you. This reduces their tax by up to £220 in the tax year (6 April to 5 April the next year).   If you were eligible for Marriage…