by Kim Lee | Sep 13, 2017 | Taxation, VAT
This week I was asked “My turnover is below the VAT Registration Threshold so I do not have to register, I have heard that I can voluntary register and I was wondering what the benefits (if they are any) are of doing this?” Value Added Tax (VAT) is the sales tax...
by Kim Lee | Jul 22, 2017 | Expenses, Start-ups, Taxation
“I am starting a business soon and have already started buying things for the business; I am also using my laptop for the business; can I can claim anything in my tax return for these expenses?” Well the short answer is yes you can as long as these are necessary...
by Kim Lee | Apr 10, 2017 | Taxation, VAT
From April 2017 Limited cost businesses will have to use 16.5% flat rate. If you are a Low or Limited cost business then it may well be time to leave the flat rate scheme or see your flat rate increase to 16.5%. A limited cost business is defined as: Amount spent on...
by Kim Lee | Mar 16, 2017 | Budget
National Insurance Following the last ever Spring budget, Phillip Hammond announced that Class 4 NICs (paid by the self-employed) were set to increase from 9% to 10% in April 2018, and to 11% in 2019. This along with other measures was seen as an attack on the...
by Kim Lee | Aug 11, 2016 | Personal Taxation
I was asked this week “Can I save money by claiming the marriage tax allowance?” The answer to most questions like this starts with it depends! The government introduced the new marriage tax allowance in April 2015. It will apply to couples under the following...
