Have you filed your Self-Assessment Tax Return and paid your Tax Liability?

Out of the 11.4m self-assessment tax returns which HMRC issued for 2016/17, 745,588 returns are still to be submitted. These outstanding self-assessment tax returns will automatically have a £100 fixed penalty charge for late submission. If you are one of …

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How prepared is your business for the possible impact of Brexit?

While Brexit took a backseat over the festive period giving us a welcome break from the seemingly endless stream of Brexit related news coverage, this was only likely to intensify once again in the coming months as we are fast …

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Self-Assessment Deadline is approaching – Are you prepared?

There are only a few weeks left to submit your self-assessment tax return for the 2016/2017 year, so if you haven’t thought about getting your information together and in order, it is highly advisable to do it now rather than …

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Stamp Duty Break for First Time Buyers

In his November budget, the Chancellor announced the immediate abolition of stamp duty land tax (SDLT) for first time buyers purchasing properties up to £300,000. First time buyers purchasing a home for consideration of £300,000 to £500,000 will still have …

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2017 Autumn Budget

Philip Hammond delivered the 2017 autumn budget on Wednesday 22 November 2017. The budget focused on supporting families and businesses in the near term and on building an economy fit for the future. Some of the key points have been …

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Advantages of Management Accounts

Management Accounts allow businesses to produce weekly, monthly or quarterly reports which help track, record and keep an up-to-date eye on the financial information of their business. As management accounts do not have to follow any precise accounting standards, business …

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Budgets, Brexit & Bad Weather

Good things happen in threes they say, or is it bad things happen with ‘B’s:- Budgets, Brexit and Bad Weather? We’ll start with the ROI budget: – Ah sure that doesn’t affect me. Or does it? For years the ROI …

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Chargeable persons for self-assessment

In the Republic of Ireland chargeable persons are required to complete a return showing all income arising/earned and detailing the disposal of chargeable assets during the year of assessment which runs from January to December. The return is due by …

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Is your company carrying out research and development?

Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). HMRC have recently updated their guidance on claiming R&D tax credit relief and have reminded companies that it is possible to obtain advance …

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Savings

From the 6 April 2016 the Government introduced what is called the Personal Savings Allowance. This means that basic rate taxpayers can receive up to £1,000 interest tax free and higher rate taxpayers can receive up to £500 of interest …

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