Year End Planning for Sole Traders and Partnerships – Are you organised?

Year End – It’s that time of year again when you have to question whether you have utilised all the opportunities to minimise your tax burdens? Manchester based accountants, Jack Ross would like to highlight a number of year end tax planning opportunities that could potentially assist your business make substantial tax savings. Obviously some[…]

Do you know about the changes to Class 2 National Insurance (NICs)?

The change simplifies the process of paying Class 2 NICs by enabling self-employed and small businesses to pay via their self-assessment (SA), which will reduce the admin of two separate collections. When does the change come into effect? April 2016 for the tax year 2015/16 onwards What will happen in the interim? The current six[…]

Minimising corporation tax

A guide to the allowances and reliefs available to help minimise your corporation tax Limited companies and most unincorporated associations such as sports clubs and cooperatives have to pay corporation tax. This is a tax levied against the profits a company makes. It includes profits from: trading investments income from renting out buildings or land[…]

Auto-enrolment contribution increase could affect small firms

Small businesses could struggle to comply with an increase in auto-enrolment pension contributions, according to a report by the Association of Consulting Actuaries (ACA). The ACA is concerned that small firms will struggle to deal with the short period of time between auto-enrolling their employees in 2015 and 2016 and the minimum contribution increases in[…]

Inflation falls to 14-year low

The Consumer Prices Index (CPI) rate of inflation fell sharply to 0.5% in the year to December 2014, from 1% in November 2014, official figures show. This is the joint lowest CPI rate on record and the lowest since May 2000. The Office for National Statistics said the low inflation was driven by falling food[…]