News

When do you need to submit a self assessment?

When do you need to submit a self-assessment?

Despite ongoing consultations and efforts to simplify the system, many taxpayers are still left unsure of what it is they’re meant to do. Since filing a self-assessment late carries a hefty penalty fee, knowing when you’re required to complete a tax return is very important. The chances are that, if you completed a self-assessment for …Read More

Could your hobby be a trade?

Could your hobby be a trade?

Do you make money doing what you love? Thanks to a huge number of popular online platforms, more and more people are now able to make a bit of extra money in their spare time. Whether it’s buying and selling items on eBay, selling your crafts on Etsy, or listing your talents on People Per …Read More

What responsibilities do directors have?

As a director of a limited company, you have many responsibilities. And as your company grows bigger, doing what’s required to meet those responsibilities becomes more onerous and time-consuming. That’s because there are more opportunities within larger companies for mistakes to be made outside the purview of a director. Companies Act 2006 The Companies Act …Read More

Employment Allowance

Employment Allowance FAQ

The Employment Allowance gives your company the opportunity to reduce its annual National Insurance Employers’ Contributions bill by up to £3,000 a year. Its original aim was to encourage one-man bands to take on additional staff and, since launch, it has become one of the most claimed-for reliefs by British businesses. It doesn’t apply to …Read More

Is someone undercutting your prices?

Even if your customers seem extremely happy with your company, when a new business comes along offering lower prices or better deals, they’ll often follow them in a heartbeat. The fact of the matter is that, for many customers, price comes above all else. You could deliver a world-class customer service, be a model of …Read More

Should you incorporate your buy-to-let business?

Should you incorporate your buy-to-let business?

If you are currently a landlord or considering becoming one, you may already be aware of the recent changes in the buy-to-let sector. With a now much less generous tax system in operation when personally buying property and letting it out, many landlords are considering incorporating their buy-to-let businesses. Essentially, it means your properties would …Read More

Employee or subcontractor?

Employee or subcontractor?

The recent change to IR35 legislation over work being carried out for the public sector has been among a number of items in the news bringing attention to whether someone is a member of staff or a contractor. Recently, a Tribunal decided that Uber drivers were staff and another tribunal decided that Deliveroo delivery drivers …Read More

Autumn Budget 2017

Highlights No Stamp Duty for first time buyers on homes costing < £300,000 Support for more housebuilding Increases to the personal allowance and basic rate band VAT limits frozen for 2 years Support for businesses to cope with business rates revaluation Improvements to R&D tax credits regimes Autumn Budget 2017 The Chancellor’s Autumn Budget contained some …Read More

Staff Christmas Party

Treating your staff at Christmas

Another year is nearly at an end and many business owners’ thoughts will be on treating their staff at Christmas for the twelve months that have just passed. In this article, Kelsall Steele looks at what you can spend on your staff this festive season without leaving yourself open for a bill from HMRC Christmas …Read More

Auto-Enrolment 2016

Auto-Enrolment and New Employers

New Employer from 1st October 2017? Are you thinking about employing staff for the first time?  If you are I’m sure you’ve considered registering a PAYE scheme, arranging contracts, sorting out employer liability insurance and all the other ‘normal’ things that you would expect to have to put in place.  But did you know that …Read More

Making Tax Digital

Making Tax Digital: New Timetable

HMRC have announced significant changes to the timetable for the implementation of Making Tax Digital. We have previously written about HMRC‘s original plans for the implementation of Making Tax Digital, which would have come into effect from April 2018 for a number of businesses and landlords with gross income exceeding the VAT threshold (currently £85,000), and …Read More

people with significant control

People with Significant Control: Changes

You may already be aware from our previous post on this topic, that since April 2016 all companies and LLP’s have been required to maintain a register of People with Significant Control (PSC), containing information relating to individuals or entities who exert, or are in a position to exert, influence or control over that company. Since the …Read More

Small Dairy Farmers Scheme

Small Dairy Farmers Scheme

Calling all Dairy Farmers! The Small Dairy Farmers Scheme provides support to eligible dairy farmers who apply for a one off payment. A fund of £8.5 million has been made available by the Rural Payments Agency and you can apply for a share in this if you produced less than one million litres between 1st April 2015 …Read More

Dividend Tax

Dividend Allowance Changes

Podcast: Listen Now The new dividend tax regime was introduced by former Chancellor of the Exchequer George Osborne. This has only been in place since April 2016, but it is already to be amended in April 2018, following announcements in the Spring 2017 Budget. Before April 2016, a basic rate taxpayer paid no tax on …Read More

Childcare Schemes

The Government are introducing two new Childcare schemes within 2017; Tax-Free Childcare and 30 hours free childcare. Through a single online application service called The Childcare Service you can apply for either or both of these schemes, . There are differing criteria for each scheme, and while the two new schemes can be used alongside each …Read More

Spring Budget 2017

Spring Budget 2017

Highlights Increases to the Class 4 National Insurance rates Reduction in the dividend allowance Personal allowance  to increase as planned New NS&I investment bond available from April 2017 Corporation Tax to fall to 19% from April 2017 ISA Allowance to rise to £20,000 Spring Budget 2017 The Chancellor’s Spring Budget contained some significant announcements and confirmed a …Read More