The problem High earning NHS employees such as consultants and GPs are exposed to high pension tax charges which have lead to reduced final pension entitlements and a reduction in…
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It seems highly likely that the UK is on course for a no deal Brexit. HMRC have provided their guidance on the issues which small businesses will face in the…
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Employing Family Members Profit extraction is a complicated issue for all small businesses. Employing family members provides an opportunity to maximise extraction of cash from your business in a tax…
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Entrepreneurs’ Relief reduces the amount of capital gains tax that individuals pay on disposals of your business or certain business assets from 20% to 10%. The Basics If you’re selling…
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What is a locum healthcare professional? Locum healthcare professionals are people working temporarily at a healthcare establishment – usually on behalf of the absent employee. As such, locums often don’t…
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If you’re an owner of a property the chances are you’ll be earning income from the rental. Any income earned from a property needs to be declared to HMRC. But…
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Did you know HMRC imposes a tax on company cars? What is the tax? The tax is known as a ‘benefit in kind tax’. It is applied because the car…
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Small businesses are required to keep records of financial affairs. They’re necessary for the success of the business. Bookkeeping as a small business, as crucial as it is, can be…
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IR35 is the UK’s latest anti-avoidance tax legislation. The legislation is designed to assess whether a worker is a contractor or a ‘disguised’ employee. ‘Disguised’ employees refer to workers who…
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If you’re a contractor in the private sector, you can choose to be your own limited company or through an umbrella company. We look at the differences and see which…
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