Automated Tax Decisions

Automated Tax Decisions: HMRC Announces Retrospective Tax Law Change

By Insights

While there was no Halloween Brexit, HMRC decided to drop a little note to add a bit of action to the end of the month. Late on Halloween, they published a technical note about certain automated tax decisions under the current tax system. While they claim the technical note won’t affect taxpayers, there is some cause for concern. Today, we’ll look at the policy and examine questions like:

• What are the current issuing policies for automated notices and penalties?
• What is the technical note trying to solve and how?
• What does the retrospective nature of automated tax decisions mean?
• What should you do?

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How to Handle Insolvency Crisis

How to handle a potential insolvency crisis and come out the other side

By Insights

The risk of insolvency can cause many sleepless nights. When you can’t seem to pay your debts you can quickly start feeling the pressure. But how do you handle a potential insolvency crisis and what are the ways in which you can come out the other side as a winner? In this post, we’ll help you understand:

• What is insolvency?
• How to reduce the risk of insolvency
• What should you do if your business is likely to become insolvent?
• What are your options as an insolvent company?
• How to get help in handling a potential insolvency

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Guide to Trustees of Charity

Important Guidance for Trustees of a Charity

By Insights

Organisations need people to govern them and this includes charities. In charitable organisations, the job falls to trustees. But what are the duties and responsibilities of trustees? In this post, we will provide trustees of a charity with important guidance by examining answers to questions like:

• What are the duties for trustees of a charity?
• How do trustees of a charity work in practice?
• Can trustees receive financial compensation for their work?
• Can trustees of a charity be personally liable?
• Where to get help for your role as a trustee

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Executor of a Will - what you should know

Executor of a Will? Here’s What You Should Know

By Insights

Being an executor of a will is a big responsibility. There’s a lot on your shoulders at a time that’s not entirely pleasant for anyone involved. Good preparation can help, however. In this guide, we’ll go through the main duties and responsibilities of an executor and discuss topics like:

• How you can become an executor and if you are free to change your mind
• What your key duties are as an executor of a will
• How you can prepare for the role to smoothen the process
• What are the main things to do after the testator dies
• Where to get help

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Key Benefits of Budgeting

Key Benefits of Budgeting for Your Business

By Insights

The benefits of budgeting are immense and far-reaching. By creating a well-thought budget, a business lays the foundation to succeed. In this guide, we’ll dive deeper into the benefits of budgeting. The article will discuss:

• How the Benefits of Budgeting Are Based on Clarity
• How Budgeting Improves Management
• How Budgeting Can Make Your Business More Flexible
• Why Budgeting Helps You Set Better Business Goals
• How We Can Help You with Budgeting

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research and development

Quick Guide to Research & Development (R&D) Tax Relief

By Insights

Research & Development (R&D) tax relief can benefit many UK businesses. The tax benefit often goes unused because it’s assumed by small businesses to be either irrelevant to their business or too complicated as a process to go through. This quick guide will cut through the hoops and show you:

• What counts as R&D?
• What is R&D tax credit?
• How can a company qualify for R&D tax relief?
• How to apply for it
• Where to find help with your R&D tax relief claim

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How to track costs in your business

How to Track the Different Costs of Your Business

By Insights

Tracking the different costs of your business is not the most exciting thing to do and it can seem daunting at first. But it doesn’t have to be rocket science and in this post, we ‘ll show you how to do it effectively. You will learn about:

• HMRC’s rules on tracking business expenses and the different costs your business should be tracking
• Categorising your costs
• Tracking the different costs with accounting software
• Using other tracking apps and software for tracking and storing
• Turning tracking expenses into a habit
• How to get help with your business expenses

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Reasons to file tax return early

5 Reasons Why You Really Should File Your Tax Return Early

By Insights

HMRC begins reminding you to file your tax return early enough for anyone not to have any excuses for filing late. Yet, many people still leave their self-assessment to the very last minute. In this post, we’ll explain why this is not a good idea and how you could benefit by filing your tax return early. Early tax returns could:

• Help you avoid penalties
• Give you more time to file your tax return
• Reduce errors and problems you might have
• Allow you to budget your money better
• Help you enjoy the holiday season

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VAT Reverse Charge Delay

VAT Reverse Charge for Builders Delayed until 2020

By Insights

Many things happening in the British parliamentary system right now are causing concern for small businesses across various sectors. With Brexit deadline approaching, it isn’t much of a surprise to hear that the government has decided to delay its introduction of the new reverse charge VAT for builders. So what is the government planning to do next? In this short post, we’ll examine:

• What the government has ruled
• What the reverse charge VAT for builders is about
• What the timeline going forward is going to look like now
• How you can get help with your tax planning

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Limited v Umbrella PAYE

Limited Company vs. PAYE Umbrella: What’s the Difference?

By Insights

The world of business is all about making decisions. One of the most important choices you have to make involves business structure. Do you want to set up a Limited Company or work under an Umbrella Company? To help you with this conundrum, this article will answer questions like:

• Who is in charge of a Limited Company vs. Umbrella Company?
• What are the advantages of both of these business models?
• Which one helps you earn more?
• How does IR35 influence the decision?
• Where to get help?

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