Insights

Employees or directors can sometimes receive benefits in kind as part of their employment. These are not included in their salary cheque or wages – so how will they be taxed? This post will examine benefits in kind and go over things like:

• What counts as benefits in kind?
• How are benefits in kind taxed?
• Examples of common tax-free benefits in kind
• How to value benefits in kind for tax purposes?
• How to declare and pay tax on benefits in kind?
• Get professional help with benefits in kind

HMRC announced changes to the scope of payroll rules in the private sector last week. The changes involve the enrolment of IR35 later this year. But what does the welcomed announcement mean for businesses? We’ll examine the change and go over things like:

• HMRC’s announced rule change in action
• Providing clarity to the scope of payroll rules
• The current state of the off-payroll rules
• How to get help with your payroll

Preparing for your retirement is one of the key financial plans you need to make. To navigate the world of pensions, many hire a pension advisor to ensure successful and smooth planning. In this short guide, we’ll show you the things a good pension advisor should be discussing with you, including:

• The benefits of hiring a pension advisor
• Your retirement plans and desires
• Your attitude to risk
• The different pension options available
• The tax implications of pensions
• Your understanding of the pension you are picking
• Where to find a pension advisor

Sole traders can choose to use either cash basis accounting or traditional accounting. The decision can have a big impact on running your business and influence the ease of filing your taxes. In this post, we’ll examine the differences by looking at:

• Traditional accounting for sole traders
• The benefits of traditional accounting
• Cash basis accounting for sole traders
• The benefits of cash basis accounting
• The treatment of expenses
• Which accounting system is better for you
• Getting help with your sole trader accounting

Have you received royalties and are you now left wondering what to do? Royalty taxation can seem difficult from the onset but we are here to help. In this short guide, we will examine questions such as:

• What are royalties?
• How are royalties taxed?
• How to use Trading Allowance
• What do you need to know about the withholding tax for royalties?
• How to get help

The UK government has two initiatives called the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) that encourage small business investment. The SEIS and EIS schemes are important to know about for both business owners and investors. In this guide, we’ll examine:

• The Seed Enterprise Investment Scheme (SEIS)
• The Enterprise Investment Scheme (EIS)
• What companies qualify for the SEIS and EIS schemes?
• What are the similarities between the schemes?
• How to choose the right scheme for your startup?
• How to find help with SEIS and EIS schemes?

New year and new tax deadlines to think about! The start of the year is the perfect time to sort out your tax fling and payments deadlines. In this short guide, we will go through the important deadlines, including:

• Crucial January tax deadlines
• Preparation for the end of the tax year in March
• The end and start of a new tax year in April
• Time for the second payment in July for the self-employed
• Tax deadlines in October to know about
• VAT and Corporation tax deadlines
• How to get help with your small business taxes

Trusts tend to have a mysterious aura to them. But what are they and how do you set up a trust? In this post, we will answer important questions like:

• What is a trust?
• What are the different types of trusts?
• Why would you set up a trust?
• How can you set up a trust?
• How are trusts taxed?
• Where to get help

The new year is always an opportunity to start something new. For many, the idea of running a business is a dream they want to fulfil. If you are thinking about starting a business in 2020, this post will help you make the dream a reality. In this short guide, we’ll give you tips on planning a successful startup, including how to:

• Identify your business idea by solving a problem
• Sort out the legal bits
• Draft a business plan
• Find financing for your startup
• Get help when planning a successful startup

The 2019 election is over and the country has a new Conservative government. But what does the new government mean for business? In this post, we’ll examine the promises and their potential implications, including:

• Passing the Brexit Withdrawal Agreement
• Changing R&D Tax Credits
• Increasing National Insurance Threshold and Employment Allowance
• Promising to Avoid Increases in Many Tax Rates
• Cracking Down on Tax Avoidance
• Reviewing Systems to Help Business
• What You Can Do Now