Mar 3, 2019 | Limited Company, Tax, Vault
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...
Mar 3, 2019 | Expenses, Vault
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...
Oct 1, 2018 | Information, Vault
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...
Jul 17, 2018 | FAQ, Vault
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...
Jul 9, 2018 | FAQ, Sole Trader, Vault
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’ profits after taxes. A sole trader is: liable to...
Jun 28, 2018 | Business Start Ups, Vault
Can I claim an expense if I don’t have the receipt? What happens when you can’t find a receipt for a business expense? Don’t panic, you may still be able to claim for some expenses without a receipt. You never received a receipt Sometimes you don’t receive a receipt,...
