Owners of business in the UK, Good news for business owners
Owners of businesses can claim capital allowance on qualifying plants and machinery. The capital allowance gives relief on the cost of qualifying expenditure immediately or over a period of time. Capital allowance, however, is only available to integral features within the building such as lifts, air-conditioning systems, electrical systems etc. Businessmen can claim tax relief […]
2 Good news for those looking to acquire
By Ola Sulaimon Ronzl Accountants There are different ways that business owners use to expand their organisation. One such is acquiring a new business, most times it is usually assets both tangible such as computers, vans, etc. and intangible such as goodwill. Before 1 April this year, the owners acquiring these items, specifically goodwill, were […]
Tax relief to consider for festive shopping
By Ola Sulaimon Ronzl Accountants Claiming Tax relief at this time to be jolly and I was reminded of this fact when I saw my favourite mince pies on the shopping racks recently. This time is also the time we love to show appreciation to our clients, our team members and also our family. We […]
Before the tax year runs out
The tax year in the UK runs from 6 April to 5 April and, as we are approaching the start of a new year, Our Northampton accountants have taken a look at tax planning ideas for business owners and individuals to help them save tax. Tax year Planning Tips 1. Tax code: This code is […]
Property let campaign,Taking the offer before it is too late
Property let campaign in the UK, individuals that earn income from letting property normally pay tax on their rental income. The tax would be applied to the rental profit rather than the rental income. At Ronzl accounting firm in the United Kingdom, we also support individuals that are trying to take advantage of the property […]
Solutions to a bad debt
Having debt at the start of a new year, business owners tend to review last year’s performance and chase outstanding invoices from their clients. Generally, a fully taxable business is entitled to charge VAT on the supply of goods and services they provide to their customers. This would mean they have immediately invoiced their customers […]
Good news for sole traders
Trading loss for sole traders. It is possible when running a business to make a trading loss. Ola Sulaimon of Ronzl Accountants explains some of the issues to consider when a loss has been made by a sole trader. 1. Make all the necessary adjustments Losses are derived by deducting trading expenses from trading Profit […]
The strange world of share options
Share options are a great way of motivating team morale. Giving an enterprise management Incentive share option (EMI) is an employee share option scheme that has been used by some employers in the UK since 2000. EMI are popular share options with smaller companies, often dealing with cash constraints, yet still wanting to retain their […]
Proposed plans that could bring positive changes to entrepreneurs
ENTREPRENEURS usually start a business with faith and hope that it works out as the planned. When they decide to dispose of the business, if they have met the specific conditions, they could claim entrepreneur relief. Entrepreneur relief is available where there is the material disposal of the business asset by sole traders/partners selling whole […]
Reduce the risks next deadline day
FINALLY, the January 31st deadline is gone, and we can all breathe. In this month I would like to remind people about the risk of leaving it too late – perhaps this would make us get the accounts in as soon as possible. Risk of submitting an incorrect return Lack of time and pressure can […]