VAT Deferral Scheme – sign up from 23rd February

VAT Deferral Scheme – sign up from 23rd February

As part of the new measures to support businesses during the pandemic, in the Government announced that certain VAT payments could be deferred. Qualifying businesses were not required to make VAT payments during the deferral period.  Instead, they were initially

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10 reasons your business needs a bookkeeper

10 reasons your business needs a bookkeeper

As a business owner, are you becoming inundated with tasks that you should not necessarily be responsible for, such as company finances? Well you are not alone. You would be surprised how many business owners we come across that have

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property development

9 tax-planning tips for landlords

With more people than ever renting their home, rather than buying, it’s a great time to be a landlord or to opt for a buy-to-let property investment. There’s a good market for tenants and, with the right planning and financial

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property developers

7 tax-planning tips for property developers

[et_pb_section bb_built=”1″ admin_label=”section”][et_pb_row admin_label=”row”][et_pb_column type=”4_4″][et_pb_text admin_label=”Text”] Investing in ‘bricks and mortar’ has always been a sensible way to grow your money. And with the growth in the average house price beginning to plateau, now may be a good time to

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Contractors: Expenses

To reduce your tax liability, you need to know what you can write off as business expenses as a contractor running a limited company. HMRC rules are clear that business expense write offs for tax purposes include the costs of

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Contractors: Paying Yourself

At Square Mile Accounting, we’ll help you put together the most tax efficient ways of paying yourself, to ensure maximum take home pay. We usually recommend a balance of: a low salary, equal to minimum wage levels, and; the rest

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Tax Return Time!

Tax Return Time! We are now out of the 2015/16 personal tax year and we are into the 2016/17 one. Your employer should shortly be giving you your P60 forms detailing all your income tax and national insurance contributions for the

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P11D Forms? What and when?

P11D Forms?  What and when? You may have heard the term P11D mentioned or perhaps received a notice from HMRC that you need to complete them.  But what are they and when are they due? P11Ds are the forms that

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Travel and Subsistence rules under attack!

If you travel a lot for your business, we’re sure you’ve heard the news buzzing around the contracting world about the proposed changes to tax rules for travel and subsistence. Following the 2015 summer Budget, the Government has proposed removed

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2015/2016 UK Tax Data Bank For Small Businesses

Income Earned As Salary:  Annual Earnings Income Tax EmployeesNI Total Deducted Your Employer Also Pays £ Nil – £8,060 0% 0% 0% 0% £8,061 – £10,600 0% 12% 12% 13.8% £10,601 – £42,385 20% 12% 32% 13.8% £42,386 – £100,000

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How you will be taxed in 2015/16

The tax year will end on 5th April, with the Chancellor’s budget now behind us, we know how we will be taxed in the new tax year. He announced that more than 17 million people will no longer have to

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Tax: The Basics, Make Sure You Don’t Over Pay!

Getting the basics right is often the most important thing. Sometimes we overcomplicate things, thinking about all the clever difficult things we could do and ignoring the basics, so here are some simple basic tax planning ideas.

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New Pension Rules Due April 2015

The changes to pensions made by George Osborne in his spring budget were radical. It does highlight one of the main problems with pensions, that the government can change the rules after you have committed your money. I’ve summarised the

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