Insights

Browse 258 Insights about Tax

No Retained Profits – How To Extract Cash To Cover Living Expenses? 21 Jul 2021 Bookkeeping, Employment, Strategy, Tax - A popular strategy is to take a small salary which is at least equal to the lower earnings limit and to extract further profits as dividends.
National Insurance (NIC) & Company Directors 21 Jul 2021 Employment, Strategy, Tax - When it comes to calculating their Class 1 National Insurance liabilities, there are special rules applying to company directors.
What Happens If Your Business Is Chosen For An HMRC Enquiry? 20 Jul 2021 Tax - A full enquiry is both costly and time-consuming, for both sides, therefore should a business find itself the subject of one then it will be for a good reason – at least in the HMRC’s eyes.
Employment Related Securities (ERS) Returns due on 6 July 3 Jul 2021 Deadlines, Tax - If you have an EMI Options Scheme, please note that the deadline for filing the EMI annual return is on 6 July 2021.
EU VAT: New Rules & Import One Stop Shop (IOSS) Coming 1st July 2021 22 Jun 2021 Brexit, Tax - Starting 1 July 2021, new EU VAT rules will come into force. The Import One Stop Shop (IOSS) will allow companies to account for EU VAT.
Take Advantage Of Enhanced Carry Back Of Losses 3 May 2021 Tax - To help loss-making businesses, legislation is to be introduced to increase temporarily the period for which a business can carry back a loss from one year to three years.
Can You Claim Employment Allowance For 2021/22? 3 May 2021 Employment, Tax - To qualify for Employment Allowance, the employer’s Class 1 National Insurance liabilities for 2020/21 must be less than £100,000.
Reduced VAT Rate For The Hospitality & Leisure Industry 2 May 2021 Tax - The temporary 5% rate of VAT will apply until 30 September 2021. From 1 October 2021, a new reduced rate of VAT of 12.5% will apply until 31 March 2022.
Allowances & Thresholds Frozen Until 2026 2 May 2021 Tax - The Chancellor announced in his 2021 Budget that a number of allowances and thresholds will remain at their 2021/22 levels until 6 April 2026.
Personal & Family Companies – Optimal Salary for 2021/22 27 Apr 2021 Employment, Tax - The optimal salary will depend on whether the employment allowance is available to shelter any employer’s NI liability that may arise.
The New Super-Deduction, Explained 16 Mar 2021 COVID-19, Policy, Tax - At the current Corporation Tax rate of 19%, the super-deduction means that for every pound invested a company's taxes are cut by up to 25p.
Adam Brodie considers The Future of Tax Beyond the Pandemic [Podcast] 10 Mar 2021 Opinion, Policy, Tax - Adam was interviewed by Simon Bullock the founder of Mulberry Bow, together with Rob Withecombe, a former partner at Grant Thornton and now a NED and Strategy Consultant