Have You Heard About the Super Deduction Tax Relief?

Super Deduction

  Super Deduction.  Claiming Super Deduction is a fantastic Tax Relief for business owners that invest in their business.  It is no surprise that more and more of our clients have recently been asking us about this relief.  In this blog post, I will be explaining what Super Deduction is and how you can enjoy […]

MORE TIME FOR STAMP DUTY TAX REFUNDS

stamp duty

Stamp duty on land and properties is the tax that is paid on properties that cost over £125,000 in the UK. This simply means that when an individual buys their first property that costs less than £125,000, they do not have to pay stamp duty. The rate of stamp duty paid on the land. The […]

IS YOUR EXPENDITURE A CAPITAL OR REVENUE EXPENDITURE?

The nature of the expenditure that is spent in business is very important. The reason for this is that it determines the accounting and tax treatment. Most times we do not have a choice because we do need to acquire them to help our business growth. In this blog post, I would like to explain […]

WHY SHOULD I PAY TAX ON CHILD BENEFIT I HAVE RECEIVED

Tax on child benefit

Why should I pay tax on the child benefit? This is a common question that is asked by taxpayers. You only pay tax if one of these conditions are met: The taxpayer must be entitled to Child benefit. Or if the taxable income received by either partner is over £50,000. Types of partners that can […]

PLANNING TO SELL A PROPERTY IN 2020, YOU SHOULD READ THIS!

Are you selling residential properties in 2020? There are proposed new changes to declaring capital gain on residential property sold from April 2020. These changes will be very massive and would affect individuals selling residential properties. Who will be affected when selling residential properties? People affected by these changes include individual taxpayers, not companies disposing […]

THE MAJOR CHANGES TO PRIVATE SECTOR, IR35 CHANGES FROM APRIL 2020

IR35 in private sector

The IR35 legislation is a legislation that has been used by HMRC since 1999 as an anti-avoidance tool for contractors that run their business through a limited company. Since April 2017, The HMRC introduced some new changes to the way IR35 was applied in the public sector. How IR35 legislation in the private sectors would […]

CLAIMING EXPENSES, REDUCING TAX AND NATIONAL INSURANCE!

Claiming Business Expenses

Claiming the right expenses are a crucial part of running a business. This is because claiming the right expenditure will result in tax relief claimed in the tax year. Therefore reducing the income tax, corporation tax and national insurance paid by the taxpayers. Why is claiming the right expenses important? The consequence of not claiming expenses or […]

Good news for business owners

By Ola Sulaimon Ronzl Accountants BUSINESS owners can claim capital allowance on qualifying plants and machinery. The capital allowance gives relief on the cost on 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 system, electrical system etc. Business […]

Good news for those looking to acquire

By Ola Sulaimon Ronzl Accountants THERE are different ways that business owners use to expand their business. One such is acquiring a new business, most times the business acquired is usually assets both tangible such as computers, vans, etc. and intangible such as goodwill. Before 1 April this year, the business owners acquiring these items, […]