What if I miss the tax return deadline?

Should you fail to meet the deadline to submit your self-assessment tax return there are penalties which HMRC will charge automatically. The first deadline is the 31st October for paper returns, but if you miss that deadline you are not fined as long as you submit the electronic version before the 31st January, but if you miss this deadline, and fail to pay any tax due by the same date then the … [Read more...]

Surviving Brexit

Brexit has caused much anxiety for many businesses over the last few months and continues to do so. Here’s our brief guide to surviving Brexit to keep confidence levels high during these tough times... Now that the UK is on its way out of the EU, it’s important to keep your business afloat and not let market fears get in the way of running it successfully. There are a few things that can be … [Read more...]

Lifetime ISAs: Get up to £32,000 for free!

Earlier in the year Chancellor George Osborne announced the launch of the new Lifetime ISAs which will be available from 6 April 2017.  If you are saving for your first home or for your retirement, then the Lifetime ISA is geared towards you and could help make the most of your tax allowances from your savings. It’s all too easy to forget about retirement planning when you are busy working, … [Read more...]

Tax changes for the non-domiciled

If you’re a ‘non-dom’ then the way you pay tax may be about to change. Announced in the Summer Budget 2015 this series of tax changes affecting people not domiciled in the UK seeks to address some of the perceived unfairness currently embedded in the UK tax system. The Government argues that it is only fair that people residing in the UK for a very long time should pay their fair share of tax … [Read more...]

What are the tax implications of staff rewards?

Good work should not go unnoticed, correct? We think so too.  As a business owner, manager or director, a natural part of your role is to motivate and reward staff when targets are hit, milestones achieved or just as a general thank you for contributing to the bottom line. Types of staff rewards There are many different types of staff rewards, such as:- A physical gift such as a case of wine … [Read more...]

Start-ups and SMEs at IT security risk

Starting a new business is exciting, challenging and demanding, with most of the emphasis on getting up and running and delivering your service to your client base. Once premises, staff, stock and IT equipment have been procured, one of the crucial things that often gets overlooked is IT security and data management. Research by CareersinAudit.com last month revealed that losing customer or … [Read more...]