Insights

With the 2018/19 tax year end just around the corner, it’s important that you take advantage of your tax-free dividend allowance. If you haven’t yet made use of dividends as a way of drawing money from your company, then you are running out of time to do so for this tax year. In this article we will look at:
Using your £2,000 dividend allowance
How does your dividend allowance work with your personal allowance?
Can you pay your dividend out of profits and losses?
Getting the help that you need when handling the tax year end

When running a company, it’s possible to have surplus cash left over at the end of a year. With regards to a private limited company, you might not be sure how to best use that money. However, there are many things to bear in mind about making it work to your advantage, such as the impact any decision might have on tax. In this article, we’re going to take a closer look at what you could do with surplus cash in your company. What is surplus cash, exactly? And how can you put it to good use? In this article, we’ll cover:
What is surplus cash?
Dealing with surplus cash appropriately
Investing your surplus cash in bonds and shares
Buying and renting properties
Pension contributions from a cash surplus
Establishing a retirement company
Distributing it to shareholders as dividends
Making the right choice

In our previous article we looked ways in which you can make the most of any surplus cash held in your business. Following on from that, we want to look at another tax allowance which is available to sole traders or partners and even company directors: Entrepreneurs’ Relief. If you have built up significant retained profits or have seen a rise in the valuation of assets in your business, you might wish to use Entrepreneurs’ Relief to your advantage, now or in the future. The rules for this are changing – so how does it work? In this article, we’ll cover:
What is Entrepreneurs’ Relief?
Rule changes announced in the 2018 Autumn Budget
Will Entrepreneurs’ Relief on the sale of EMI shares be affected?
Should you use Entrepreneurs’ Relief for winding up?
Making the right decision

Following announcements made in the Autumn Budget 2018, changes were set out for the new tax year starting on the 6th April 2019. It’s important to understand what these new tax rules are so you can adjust accordingly. A failure to take into account increases or decreases in tax rates and thresholds could mean miscalculating your expected tax bill in the future. This article will break down key tax amendments for the 2019/20 tax year, including:
What changes are taking place regarding Personal Taxes?
Income Tax allowances and thresholds for 2019/20
Capital Gains Tax annual exemption
Business Tax adjustments to take note of
Charity Tax rules to prepare for
Finding out how tax changes in 2019/20 impact you

For any business owner, selecting the right accounting software is a key decision. Having control of your books and access to timely financial data is essential for a modern business. With such a range of packages to choose from, knowing where to start can be somewhat confusing. In this article we will break down important points to consider when looking at your choice of accountancy software. This includes:
Selecting accounting software based on your needs
Picking cloud accounting software
Is your accounting software MTD compliant?
Keeping your budget in mind
Other things to consider
Making a choice on accounting software

For business owners, keeping up-to-date with changes to payslips and payroll is important. As of April 2019, new changes will mean that you will have to become well-versed in payroll legislation. There are some changes to payslips, pension contributions, increases in statutory family-related pay and statutory sickness pay. Also, adjustments to redundancy pay calculations and post-graduate loan repayments means it’s vital to understand the requirements you need to adapt to. In this article, we’ll cover:
What are the latest payslip changes from April 2019?
Pension contributions
National Minimum Wage changes
Statutory family-related pay and statutory sick pay changes
Redundancy payment calculation adjustments
Postgraduate loan repayments
Finding help with payslip and payroll changes

Buying or owning a second property in the United Kingdom has tax implications which must be considered when deciding how to manage it. These can add to the costs of a purchase or sale of the property. This article looks at the key taxes which relate to residential properties and what the implications of them are, including:
Stamp duty for a second property
Capital Gains Tax on a secondary property
Deciding on the length of investment and income streams
Considerations when utilising Buy to let
Rental income streams and Income Tax
Getting help with your second property finances

For some time now Making Tax Digital (MTD) has been on the horizon. It’s the biggest change in UK tax management processes for a long time. MTD for VAT reporting became mandatory in April 2019 for the majority of VAT registered businesses, such that the details of all relevant transactions from the next VAT period commencing after 1st April must be recorded and submitted to HMRC in a digital format. In this article, we’re going to check you’re ready for MTD and can comfortably meet your first MTD VAT return deadline, including:
What does MTD for VAT mean for a business?
Are you signed up to MTD?
Are your records and software MTD compliant?
Penalties for wrong or late submissions of VAT returns
Help and assistance with MTD

For any business owner, recognising the difference between profits and cash flow is essential. Weak cash flow is a common problem for many small businesses that can leave them struggling to grow and succeed. Managing business cash flow can be tough, so this guide should help you to better understand just how to stay on top of it. In this article, we’ll cover some important factors such as:
What is Cash Flow?
Managing Receivables
Prioritising Payments
Financing your Business – overdrafts, loans, equity.
Getting Help with Cash Flow Management