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Tax Saving Accountants

Is the pressure on for small businesses this Christmas?

New research by the firm XLN Business Services suggests that the festive season will be the busiest time for small business owners – despite the difficult situation with regards to consumer spending. Because of the tough economic climate, those who rely on themselves for work don’t have the benefit of paid leave, and could end […]

hmrc negligence
Tax Saving Accountants

The deadline for sending paper tax returns has passed

If you are sending your tax return on paper, rather than online the deadline is midnight on the 31st October. You will need to send a tax return if you are, for example, self employed, a company director, receiving taxable income from overseas or having to pay tax that cannot be collected through PAYE. To […]

hmrc negligence
Tax Saving Accountants

HMRC getting tough on SMEs filing paper returns

HM Revenue and Customs have announced their latest tranche of measures to deter people from submitting paper-based tax returns, with a £100 penalty even if submissions arrive just a day late. Some have jumped up to say this is rather unfair, not least because HMRC gives people who file their returns on the Internet an […]

Allowable expenses
Tax Saving Accountants

Do you pay into a pension?

Alarming research from Prudential suggests that as many as 46% of small business owners do not contribute regularly into a pension fund – even though they are self-employed and are not automatically enlisted into a scheme. The main reasons for this appear to be the fact that many businessowners believe that they are not going […]

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Tax Saving Accountants

So you think you can avoid the taxman…?

HMRC has saved the taxpayer an estimated £200m by taking three tax avoidance schemes to the courts – and winning all of its cases. The first case involved a scheme that addressed capital gains tax and which, according to HRMC, prevented around £90m finding its way to the treasury. The second case involved the directors […]

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Tax Saving Accountants

MPs still having a taxing time

The 2009 expenses scandal that exposed many MPs for claiming where they shouldn’t have had the nation screaming for reform. This led to the Independent Parliamentary Standards Authority (IPSA) being set up to oversee the changes that needed to be made – but which, in its turn, is creating unrest with MPs complaining that it […]

Tax Saving Accountants

A Fragile Economy Means Companies Need More Government Support

The most recent server from the British Chambers of Commerce has suggested that even though the UK economy remains fragile, businesses are actually growing. The Director General, John Longworth, has called for bold action, claiming that ‘Growth cannot wait’. The BCC survey also found that a small rise in exporting from Britain, both amongst the […]

Tax Saving Accountants

HMRC cracking down on tax avoiders

HM Revenue & Customs is beginning to crack down on missing tax returns for the years 2009-2010. Currently, HMRC is unable to predict how many people are involved with missing tax returns, but wants people who have previously kept quiet to come forward and avoid further financial penalties. If you are one of the many […]

Tax Saving Accountants

Why should I use an accountant to deal with corporation tax?

Dealing with your tax return is difficult at the best of times, but when it comes to corporation tax, it can often be even more difficult. When it comes to filing and paying this kind of tax, you may easily have trouble – which is why most people choose to hire an accountant for their […]

Tax Saving Accountants

What if I want to sell a business to family?

If you intend to sell your business to family in order to keep the company running through the generations, there are a lot of things to consider. In order to make the transition between you and your successor much easier, it is important that you successfully arrange the handover procedure. This process of passing down […]

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