Business Tax

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Annual Investment Allowance limit reduction from April 2012 - what should businesses do?
George Osborne's Emergency Budget gave notice that the Annual Investment Allowance (AIA) annual limit is to be significantly reduced from April 2012. What should businesses do to plan in advance? [August 12, 2010]

Accountant provides clarification on how dividends are taxed
A small business accountant provides some clarification on the amount of tax payable by shareholders when dividends are paid, particularly, by private companies. [July 14, 2010]

Tax strategies to consider in a high tax environment
The era of the Additional Rate Tax has begun. Partners and the self employed, in fact all non-PAYE earners, who clock up income over £150,000 during the 2010/11 fiscal year will be hoping that the new 50% rate will go away, but it won’t and it is no use burying our heads in the sand. [April 26, 2010]

Annual Investment Allowance - how does it work?
One of the few increases in tax allowances disclosed in the Budget last month was a doubling of the Annual Investment Allowance, from £50,000 to £100,000. So, how does the AID work in practice? [April 16, 2010]

Business rate changes from October 2010
One of the key announcements from Budget 2010 was in a 'freeze' in business rates for some small companies from October 2010 - so which businesses will benefit, and by how much? [March 26, 2010]

Tax tips for entrepreneurs to address before 6th April 2010
Business advisors at Deloitte are urging entrepreneurial businesses to make final reviews of their tax position to ensure their financial house is in order before the start of the next tax year. [March 22, 2010]

Declaring dividend payments before 50% tax rate start date
The approaching commencement of the 50% tax rate and the phased withdrawal of personal allowances for those with income between £100,000 and £112,950 are leading those affected to consider tax planning to find potential ways to reduce the increasing tax burden. [March 18, 2010]

How long should small businesses keep tax records for?
A new guide has been produced explaining which tax records small businesses (including the self employed and limited companies) should keep, and for how long. [February 25, 2010]

Tax relief and Christmas entertainment
We look at how staff parties are treated for tax purposes by HMRC, and what you should bear in mind when an employer provides an employee with seasonal gifts. [December 4, 2009]

Paying private bills through your company
You need to be aware of the tax consequences of paying for personal bills via your business - the rules differ depending on whether you are trading as a sole trader, or as a limited company. [November 16, 2009]

Guide to Business Rates
This simple guide will help you understand what business rates you might have to pay, how to challenge the rates set, and even if you can claim any relief. [October 29, 2009]

How to make the most out of trading loss relief
Under concessions offered in the Finance Bill 2009, trading losses for businesses can now be carried back up to a maximum of three years. How the rules work. [October 13, 2009]

Claiming travel expenses from home to work - the rules
Whether you are a limited company director, or a sole trader, this article looks out how expense claims for home to work travel are treated by HMRC. [October 9, 2009]

How to manage Corporation Tax during a recession
Here are some useful tips to help small businesses manage their corporation tax liabilities during the downturn. [September 18, 2009]

How to register your company for corporation tax
One of your first duties as a limited company director is to register your company to pay Corporation Tax. How the registration process works, including which forms you need to complete. [August 5, 2009]

Tips to run your business finances efficiently
An unbelievable amount of money is thrown away every year by small businesses, simply because they are not running their finances efficiently. Here are some useful tips that if not applied, at best cost you and your business money, and at worst can cause your company to crash and burn. [July 20, 2009]

Annual PAYE and NIC tax deadlines for small businesses
The key small business tax accounting deadline dates - including information on National Insurance contributions (NICs), PAYE and self-assessment tax returns. [June 2, 2009]

Guide to National Insurance and NICs for small businesses
National Insurance guide for self employed people and limited company directors. Includes overview of the NIC classes, and current rates. [June 1, 2009]

PAYE - Overview of Pay as You Earn scheme
An overview of PAYE (Pay as You Earn) - the familiar scheme operated by HM Revenue & Customs to take income tax from employees as they earn it [June 1, 2009]

Corporation Tax - What it is and how it applies to your company
Corporation Tax is essentially a tax on your company’s profits. You have to work out your own tax liability, pay that tax, and ensure you deliver all required information to HMRC on time. [May 21, 2009]

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