Don’t forget to read our 2018 Tax Briefing newsletter for top tips for business owners detailing recommendations from the accounting team at McIntyre Stuart. Download our August 2018 Newsletter.
What tax code do I use for 2018/19? In general, use 1185L for employees unless: Notification of a different code is advised by HMRC. The employee’s code was not the basic code last year, in which case expect to: Add 35 to any tax code ending in L Add 39 to any tax code ending in M…Details
How the new rules may affect you if you receive dividends 6 April 2016 saw major changes to the taxation of dividends. Prior to this date, small companies could pay their owner directors a low salary with a substantial dividend payment which saved the company and the director national insurance. For 2015/16 you could take…Details
Individuals and partnership 31 January 2017 Electronic filing date for 2015- 16 personal, partnership and trust tax returns. Balance of 2015-16 tax liabilities due. Payment of first tax instalment for 2016-17 tax liabilities 2014-15 tax returns to be amended by this date. Small and medium-sized companies 1 January 2017 Payment of corporation tax liabilities for…Details
Do you know if your trading income for the last twelve months and estimate for the next twelve months? If either of these are likely to be over £83,000 you will need to register for VAT, but you may wish to voluntarily register due to the type of business or for commercial reasons. If all…Details
Making tax digital is the government’s aim to bring all accounts, tax returns and other tax items within an online filing system. Whilst this is not occurring for a few years you should not be complacent and we recommend going digital and online accounting as soon as possible to ensure you are ready when quarterly…Details
Established smart businesses recognise the significance and value of preparing monthly accounts, budgets and cash flow. It helps them forecast where the business is spending money and how savings can be made. Perhaps you are a small business owner who is looking to take your enterprise to the next level? Preparing a budget is a great starting point…Details