Small Business Grant Funding

Small Business Grant Funding

What is it? The Government is providing additional funding for Local Authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBRR), rural rate relief (RRR) and tapered relief. This will provide a...
Coronavirus Job Retention Scheme

Coronavirus Job Retention Scheme

What is it? Under the coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. This applies to...
Coronavirus Business Interruption Loan Scheme

Coronavirus Business Interruption Loan Scheme

Here is the latest advice from HMRC regarding the Business Interruption Loan Scheme.   What is it? The temporary Coronavirus Business Interruption Loan Scheme supports small and medium-sized businesses with access to loans, overdrafts, invoice finance and asset...

Business Support During The Coronavirus Outbreak

We understand that many of our clients are concerned about their cash flow during the Coronavirus Covid-19 outbreak and so we have put together a brief summary of the support available. This is changing on a daily basis and so we will continue to update the...
Tax on Purchasing or Selling a Second Home

Tax on Purchasing or Selling a Second Home

Many people purchase a second property to let out either for long term lets or furnished holiday lets. Before you start it is important to be aware of the tax implications of owning a second home. Stamp Duty Land Tax You pay Stamp Duty Land Tax when you purchase a...
The Importance of Tax Planning when running a limited company

The Importance of Tax Planning when running a limited company

If you run a limited company it is likely that you will receive personal income from your company in the form of both salary and dividends.  As dividend tax rates differ from other forms of income, and the tax due is usually worked out after the tax year in which the...
How do you pay national insurance if you’re self-employed?

How do you pay national insurance if you’re self-employed?

What are national insurance contributions? National Insurance contributions are a tax on earnings which build your entitlement to certain state benefits, such as the State Pension and Maternity Allowance. Your national insurance payments go towards state benefits and...
What expenses can I claim against my rental income?

What expenses can I claim against my rental income?

What expenses can I claim against my rental income? We are often asked which expenses are allowable costs against rental income. There are many that are allowable but it is important to understand the difference between a CAPITAL expense and a REVENUE expense. For...
What Is Making Tax Digital?

What Is Making Tax Digital?

So what is making tax digital? Well In his March 2015 budget the Chancellor announced that this was “the end of the tax return as we know it”. The key change is that businesses will be required to digitally file tax returns on a quarterly basis. So what...
What is a sole trader?

What is a sole trader?

What is a sole trader? A sole trader is an individual who trades on his/her own on a self-employed basis. If you start working for yourself as a sole trader, you will own and run your business as an individual and will keep all the business’s profits after taxes. A...