CIS – Construction industry scheme

In this article we will be looking into recent changes that affect the CIS. The construction sector remains one of the UK’s key sectors, despite the effects of the COVID-19 pandemic.  In September 2021, construction output grew by 1.3% on the previous month. This placed the sector just 1% below its pre-pandemic level – and[…]

Business tasks to outsource

Many people in business come to us asking for help with tasks that usually result in time slipping through their fingers, because of their often-onerous nature to the layman. If that rings true with you, it might be time to consider offloading some of that work outside of your expertise in order to give yourself[…]

Businesses basis period rules in line for reform

Unincorporated businesses could be about to see significant changes to the ways in which they are taxed. This is following the launch of a Government consultation. The Government plans to reform the basis period rules in a bid to simplify how unincorporated businesses, such as sole traders and business partnerships, allocate trading profits to tax[…]

Starting a new business after COVID-19

New businesses can still grow and flourish. Not much can stop determined entrepreneurs from building a new business from the ground up. Even during such challenging times as a COVID-19 or its ensuing fallout budding business owners are succeeding. The pandemic has proven a huge challenge for businesses. 396,155 UK firms closed in 2020 according to[…]

Company Car: The pros & cons of an electric car.

Despite the potentially high personal taxable benefit, many employees still enjoy and prefer the convenience of being offered the use of a company car by their employer. Those employers familiar with the benefit-in-kind tax rules will be aware the tax impact on the employee is much lower for those that choose an electric vehicle, rather[…]

Allowable Expenses – The costs you can reclaim.

If you’re self-employed, there are various costs which you are able to deduct as allowable expenses for your business in 2021/2022. By deducting these allowable expenses as part of calculating your business’s taxable profits, it’s possible for us to reduce your income tax bill in the process.  If your business has turnover of £50,000 in[…]