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How are small businesses taxed in the UK? We explore the various taxes you will encounter as a business owner – either as a sole trader or a limited company.

new salary sacrifice rules 2017

Salary Sacrifice Schemes – what are the new rules from April 2017?

Significant changes to UK salary sacrifice schemes have now been implemented. Affecting both employers and employees, these changes essentially remove the tax incentives of many of the benefits in kind (BiK) offered under salary sacrifice arrangements.

With, the new salary sacrifice rules reducing the tax benefits of salary sacrifice schemes, here’s what small businesses need to know about the changes and how they affect employers and employees.Read More »Salary Sacrifice Schemes – what are the new rules from April 2017?

covid deferred tax

21 costly VAT mistakes businesses make on their VAT Returns

  • VAT

With the complexity of the VAT laws it’s understandable that businesses make mistakes on their VAT returns. However, these mistakes can be very costly both in terms of paying the wrong amount of VAT and also triggering a VAT investigation.

To help you avoid making these expensive mistakes, we asked Jonathan Amponsah, founder of The Tax Guys, to reveal the 21 common mistakes small businesses make on VAT Returns.Read More »21 costly VAT mistakes businesses make on their VAT Returns

How setting up a salary sacrifice scheme can cut the tax bills for both employees and employers

How can you be an attractive company to work for, motivate and reward staff and promote loyalty without increasing your pay bill?

Believe it or not, introducing employee benefits may be the answer. There is a range of benefits which won’t be a cost to your company and will actually provide savings by reducing your tax liability. These are known as salary sacrifice arrangements.
Read More »How setting up a salary sacrifice scheme can cut the tax bills for both employees and employers