HMRC Credit Card Changes – What To Do About It

HMRC Credit Card Changes As of 31st January 2018 HMRC credit card changes come into effect. That means you can no longer use your credit card to pay for income tax, NI or VAT. However, debit cards and corporate credit

Posted in hmrc, Uncategorized

Commercial Debt Management – Using the Law Effectively

Commercial Debt Management Commercial Debt management on late payment or non-payment of commercial debts can be managed by using the law effectively. The late payment of commercial debts (interest) act 1998 can be used to compensate creditors for late payment

Posted in Business finance, Business Planning Tagged with: , ,

Directors Loan Account – Effectively Dealing with Them

Directors Loan Accounts If you operate your business as a sole trader, Directors loan account isn’t something you need to worry about. If you are a limited company director and shareholder then a directors loan account can be a bit of

Posted in Business finance

Flat rate VAT scheme changes April 2017 – What to do about it?

Flat rate VAT scheme changes background Flat rate VAT scheme changes came into effect on the 1st April 2017. HMRC have now completed their consultation phase. Below are what the changes may mean for you and the type of business

Posted in Business finance, Tax advisory Tagged with:

Changes to dividend tax and contractors

Changes to Dividend tax Changes to Dividend tax came into effect on the 6th April 2016 and again on the 6th April 2018. The effect is those paying themselves dividends and a small salary are likely to have to pay more

Posted in Tax advisory

Tax Refund Scams

Tax Refund “Notification” If you receive an e mail or text message “from HMRC” informing you about “a tax refund notification” ….or indeed anything else, it’s a scam pure and simple. DO NOT RESPOND! I have had a number of

Posted in Tax advisory

Tax Return Accountant Service

 Finance Equation Ltd tax return accountant service  Self Assessment Tax Return Service. Get It Done In Time To Allow For Tax Planning & Help Us Save You Money.   The following government website gives you an introduction and links to

Posted in Tax advisory

Residential Buy-to-let and VAT

Residential buy-to-let and VAT Residential buy-to-let are VAT exempt. Which means VAT can’t be charged on rents. It also means that VAT can’t be reclaimed on expenses, repair costs, agents fee’s etc. The assumption therefore is that residential landlords can

Posted in Cloud Accounting

Family Investment Company & Tax Planning

Family Investment Company & Tax Planning A family investment company and tax planning go hand in hand. Years ago trusts were a tax efficient way to deal with Inheritance tax. Changes in trust tax law means trusts may no longer be

Posted in Tax advisory

Tenants in Common | Saving Tax | Tax Planning

Tenants in Common, Saving Tax and Tax Planning Being tenants in common with joint property ownership could save you tax. It will save tax if one partner has no income or is not fully using their 20% tax threshold. HMRC

Posted in Cloud Accounting

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