The window of opportunity for HMRC to investigate

September 2, 2014

Often referred to as the “enquiry window,” HMRC have a set period of 12 months for any randomly selected enquiries. Although, should they have suspicions, this can be reopened at a later date.


Method for reporting employee benefits due to change

August 28, 2014

In an attempt to ease administration, HMRC have some positive changes in the pipeline to how employees report and pay tax on any benefits received from their employer. Could this be the end of the P11D?


Self-assessment paper tax return filing date coming up – 31 October

August 26, 2014

The final date for filing any self-assessment paper tax returns for the year ended 5 April 2014 is 31st October 2014. Failure to comply with the deadlines results in an immediate £100 penalty, don’t get caught out!


Consider paying interest on loans to your business

August 17, 2014

If you have the personal funds to loan to your business in a time of need, the company could pay interest on their loan to gain tax relief, while also receiving additional personal income into your household.


Save hours of time with robust systems and processes

August 11, 2014

How many hours per week do you spend on tasks that are not either directly related to earning fees or do not assist with the growth and development of my business? Small business owners can struggle to grow their business but building robust systems and processes can save literally hours of time and more often than not, it’s FREE.


Gift a share in your investment property. Keep the rent. Potential WIN:WIN

August 7, 2014

An investment property portfolio can be a fantastic source of income for retirement. Have you considered all your options though with maximising the return on your investment whilst saving tax?


Have you taken enough care with your tax affairs?

August 4, 2014

HMRC are continually assessing whether a taxpayer has taken “reasonable care” in the preparation of their tax return. If errors are found, were they “deliberate” or “careless” mistakes, the outcome of this question determining the penalty.


HMRC admit to publishing wrong figures

August 1, 2014

The National Audit Office have uncovered an error of £1.9 billion relating to targets set for HMRC in 2010, resulting in an overstatement of results through to 2013-2014


Corporation tax rates set to remain low

July 29, 2014

Are you making use of the all time low corporation tax rates by trading as a limited company? Incorporation makes more sense than ever.


July brings the NISA and the banks are ready

July 25, 2014

With the new style ISA (the NISA) coming into play from 1 July 2014 there were concerns that the banks would not be ready for a surge of enquiries. But they are! There are many benefits to the NISA as a means to invest.