Wrap your head around PAYE
Wrap your head around PAYE We’ve all seen the words PAYE pop up on our payslips, but how many actually know what PAYE means and how it works? Introduced in 1944, the ‘Pay As You Earn’ system is a…
SME vs RDEC: What should you claim under?
SME vs RDEC: What should you claim under? If you’re planning on making an application for Research and Development (R&D) Tax Credits, you need to know the differences between the two schemes available: The Small-Medium Enterprise (SME) scheme The Research…
Insights: The Construction Industry Scheme
Insights: The Construction Industry Scheme Our accounts and bookkeeping assistant, Ashleigh, takes a look into what exactly the Construction Industry Scheme (CIS) is, who needs it, and how qualifying individuals can register. What is CIS? The Construction Industry Scheme…
Do Dentists need Accountants?
Do Dentists need Accountants? The short (and unbiased) answer is yes. The more detailed answer is based on the premise that dentists need an accountant that understands the intricacies behind dental funding, pensions, and general practice. Associate dentists tend to…
Tax Reducers – Fact or Fiction?
Tax Reducers – Fact or Fiction? “I wish I was paying less tax” is probably a thought that has crossed the minds of many of us at least once in our lifetimes, and it would not be a surprise at…
Your guide to EMIs
Your guide to EMIs Enterprise Management Incentive (EMI) schemes are great for keeping and encouraging employees by awarding significant tax benefits to both company and worker. Typically, you may see EMIs being used as a tax-efficient tool to aid with…
Tax-Exempt Benefits: What are they and how do they work?
Tax-Exempt Benefits: What are they and how do they work? A significant number of employees will find that they receive non-cash benefits as a part of their remuneration often in the form of company cars, loans, mobile phones, private…
I’m a Sole Trader and I’ve made a loss in opening years; can I claim relief?
I’m a Sole Trader and I’ve made a loss in opening years; can I claim relief? A sole trader or an individual in a partnership making a loss has zero taxable profit for the year. Keeping in mind that…
Car Benefits: Your 2021/22 Tax Guide
Car Benefits: Your 2021/22 Tax Guide Car benefits are a topic which is often brought up in enquiries with our clients, so this article will go over some concepts in the interest of tax planning for the acquiring cars…
Your Pension Obligations as an Employer
Your Pension Obligations as an Employer Pensions are an essential resource for individuals as a reliable source of income to live on when they retire from working. A recent investigation found that the average pension pot savings across the UK…