Recently added Tips & Advice

PROFIT EXTRACTION - 20.02.2024

Planning your year-end dividend

The end of the tax year is approaching and you want to make full use of the 8.5% tax rate that applies to dividends. How can you work out how much dividend you can take and ensure its payment before the tax year ends?
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INVESTIGATIONS - 20.02.2024

HMRC hunts for undeclared dividends

HMRC campaign. From time to time HMRC runs campaigns to identify where it might be losing tax as a result of oversights, errors or avoidance by taxpayers. It’s recently started a campaign to identify lost tax on dividend income. This will mainly target shareholders of small companies. ...
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NATIONAL INSURANCE - 20.02.2024

Adding to your state pension while abroad

NI contributions. Changes to the rules mean that you may be entitled to pay voluntary Class 2 or Class 3 NI contributions for periods spent abroad. These will count towards your entitlement to a UK state pension. Conditions. You must have lived in an EU country, Iceland, Liechtenstein, Norway, Switzerland or Turkey for three consecutive years, or paid three years of social security contributions in one or more of those countries. You must also at some time have paid either Class 1 NI or Class 2 NI (see The next step ). ...
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SELF-ASSESSMENT - 20.02.2024

Pressure builds on cryptoasset owners

A national firm of accountants says HMRC is stepping up investigations relating to cryptoassets. If you own Bitcoin assets, should you be worried?
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NATIONAL INSURANCE - 20.02.2024

Getting directors’ NI contributions right for 2023/24

The end of the tax year is just a few weeks away. As an employer you’ll need to carry out the usual payroll year-end routines. However, if your business operates through a company there’s an extra step that might be required. What is it?
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INVESTMENTS - 20.02.2024

EIS - retrospectively reduce your tax bill

You want to make a tax-efficient investment and you’ve read that one which qualifies for the enterprise investment scheme (EIS) is a good option because it means you can reclaim tax you paid on 31 January. How does this work in practice?
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Most read Tips & Advice

TIME OFF - 09.01.2024

The new right to carer’s leave

On 6 April 2024 the new Carer’s Leave Regulations 2024 will come into force. How much statutory carer’s leave will your employees be entitled to take in any twelve-month period and is this a paid or unpaid right?
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EMPLOYMENT CONTRACTS - 25.01.2024

Employment contracts for new employees

What does the law require when it comes to issuing employment contracts to new employees? What are the essentials that you need to be aware of to ensure your business stays on the right side of the law?
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CONSTRUCTION INDUSTRY SCHEME - 24.01.2024

Construction industry scheme - what’s the latest?

In a move to prevent or at least reduce tax avoidance, changes to the construction industry scheme (CIS) rules takes effect from April 2024. As a contractor or subcontractor in the industry, what do you need to know?
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