Tag: Cheap Accountants

Marriage Allowance

Marriage Allowance

HMRC is having the drive to encourage people to claim the marriage allowance.  Introduced in 2015, the marriage allowance enables one partner in a married couple or civil partnership to transfer part of their personal allowance to the other partner. It is worth claiming if one partner is not able to use all of their […]

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Contractors - Tax Deductible Expenses as a - What You Can Claim

Accountant for Contractor Tax Deductible Expenses to Claim

When you are a freelance accountant for a contractor you will incur certain costs. Some of these can be claimed before taxes are applied – i.e. they are ‘tax-deductible’. It is therefore important that as a contractor, you know what counts as a valid expense, so you can keep your tax bill as low as […]

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Contractors - PAYE Accountants and National Insurance

Contractors – PAYE Accountants and National Insurance

Income tax and National Insurance contributions, or NICs, are payable on the salary that you pay yourself out of your limited company’s turnover. It is common for contractors who are not caught by IR35 to pay themselves a very low salary (e.g. minimum wage) to keep income tax and NICs to a minimum, taking the […]

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Bookkeeping Services for Financial Records

Bookkeeping Services for Financial Records

As the name reflects, bookkeeping services for financial records are the activity or occupation of keeping records of the financial affairs of a business. Financial records of business include transactions of sales, purchases, bank, receipts& payments of an individual or organization. Bookkeeping records are a source of trial balance which is used by an accountant […]

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Directors' loan accounts and Corporation Tax implications

Directors’ loan accounts and Corporation Tax implications

The director’s loan account is the amount paid to director other than salary and dividend, it can be  cash payments other than your salary or dividend  expenses that you may have paid for using company funds that are actually for personal use  money is withdrawn for your personal use – for example, to renovate your […]

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Tour Operators Margin Scheme

Tour Operators Margin Scheme (TOMS)

The information provided in this article shows how you must account for VAT if you buy-in and re-sell travel facilities as a principal or undisclosed agent (that is, acting in your own name). TOMS is a special name given to businesses that buy-in and re-sell travel, accommodation and certain other services. Traditional tour operators are […]

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stamp duty

Real Time Information (RTI) for PAYE

Real Time Information (RTI) for PAYE Real-Time Information (RTI) improves the operation of the PAYE accountants system by creating more up-to-date taxpayer records and making the system easier for employers and HMRC to administer. Reasons for introducing RTI When PAYE was introduced almost 70 years ago, most people held just one job for most of […]

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Buying a Car through Limited Company

Buying a Car through Limited Company

If Company Buys: On Full Payment If you buy a new car through your company then it will attract capital allowance. The amount of capital allowance will depend on the amount of CO2 emission by the car. If CO2 emission is 75g/km or less (50g/km from April 2018) then the capital allowance (First Year Allowance […]

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