Category Archives: Partnerships

Things affecting Partnerships

Personal Taxation Planning Guide 2016-17

We are here to help… Make good use of us! This guide is designed to help you identify areas that might have a significant impact on your tax planning. Please consult us early for help in taking advantage of tax-saving opportunities. We will be delighted to assist you. Tax Planning is a year-round activity, but… Read More »

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Summer Budget 8th July 2015

Summer Budget 8th July 2015 The Chancellor, George Osborne, opened his Summer 2015 Budget on 8 July 2015 with “A bold budget…with big ambitions”, then followed with “we shouldn’t go faster, we should go slower”. So what are we to make of this bold but slow Budget? Osborne set out Parliament’s intentions to tackle tax… Read More »

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Incorporations and goodwill all is not lost as at 3rd December 2014

Before we start please feel free to talk us at the Accountancy Coop before making any decisions regarding incorporation. Entrepreneurs’ relief is no longer available on the incorporation of many businesses, but HMRC’s attitude to trade-related properties leaves the door ajar for some… In recent years, a large number of businesses (particularly professional practices) have… Read More »

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Some changes to be aware of for 2014 /15 – Class 2 NICS and SEE

Some changes to be aware of for 2014 /15   Class 2 National Insurance contributions (NICs) are becoming an annual charge for the majority of those who are self-employed for the 2015-16 tax year onwards.  As a result Class 2 liability will not be determined until the Self-Assessment return is filed. Small Earnings Exception (SEE)… Read More »

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Why review your accountancy service?

Why review your accountancy service? Like any other service your business uses, you should consider reviewing your accountants periodically and ask yourself the following questions: Is the current level of service satisfactory? Does the service represent value for money? Might we be missing specific tax expertise that could reduce our tax payable? Does my accountant really understand our needs and our… Read More »

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HMRC Penalties

  If you miss the self assessment deadline, a late tax return penalty of £100 will be issued by an automated process at HMRC. If you still have not filed three months after the deadline, you will also start clocking up automatic £10 per day penalties – up to a maximum of £900. If you… Read More »

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Employers can save £2000 a year

A new bill is going through the parliamentary process which will save employers £2000 a year in Employers National Insurance contributions.  This represents a help to the smaller businesses and should work as an incentive for smaller businesses to take on staff without the initial burden of Employers National Insurance. In a letter from MP… Read More »

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