NI rates hiked – how much more will you pay?
Boris Johnson announced that NI and dividend tax rates will be hiked to help fund social care, pay for coronavirus support measures and clear the NHS backlog. Who will be affected and by how much?
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Accounting for the crisis unfolding in construction
On the surface, construction is booming with residential property projects dotting the urban landscape. But there is also a growing crisis as the sector is squeezed by global supply chain issues, skills shortages, and skyrocketing prices.
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Special reductions and late filing penalties
The First-tier Tribunal (FTT) has considered whether a taxpayer had a reasonable excuse for filing his tax returns late. While the issue was not unusual, the FTT’s ruling was. How might its decision help you reduce a late filing penalty?
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Build-A-Group Business Event
*NEW* Build-A-Group – Essex’s FREE Construction Networking Event. Join us on Friday 20th August for our free open-house business networking event at Billerciay Football Stadium.
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A tax-saving tip for incorporating your business
Your accountant has suggested transferring your business to a limited company to save tax and NI, are there any steps you can take to make the transfer even more tax efficient?
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Is tax payable on compensation for damaged property?
Last year our client’s premises suffered extensive structural damage. The insurer compensated him before the repairs were made. If he doesn’t use all the money will he have to pay tax on it?
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Why you should maximise dividends when you can
Coronavirus has played havoc with dividends as a profit extraction method for owner managers of some companies and may have put them at a tax disadvantage for some time to come. How might a similar situation be avoided in future?
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Super-deduction tax incentive extended
The “super-deduction” is a new tax incentive for businesses to purchase equipment. The qualifying conditions have now been relaxed to allow the tax break for some previously excluded items. What’s the full story?
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Eaziserv. Oscar Fairchild’s new HMRC compliant CIS payment solution
There are some exciting changes taking place at Oscar Fairchild. As part of our constant focus on client care we’re thrilled to share that we’re joining forces with highly respected London accountancy firm, The Eazitax Group.
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Cycling to work – keep it simple to avoid tax
A few of your employees have expressed an interest in the cycle-to-work tax break and with summer not far away you’re also tempted. However, there seems to be a mountain of literature to plough through. Is there a simple option?
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Why fund your business from personal savings?
As a money-making plan a friend has suggested lending some of your personal savings to your company. The idea is that it can pay you more interest than the bank does. It sounds interesting but are there troublesome tax consequences?
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HMRC plans to make self-assessment tax payable sooner
The government plans to demand quarterly or monthly tax payments from companies and individuals who pay tax through self-assessment. It won’t happen for at least two years. Have your say by responding to the consultation.
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Special Rules for Directors’ NI Contributions
Special rules apply to directors’ NI contributions. Normally they go unnoticed, but in a year that has been many directors cut their salary this might result in too much NI being paid.
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2021 Spring Budget: Clarity to Plan Ahead
Oscar Fairchild responds to Chancellor Rishi Sunak’s 2021 Spring Budget
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Postponed VAT accounting: practicalities
Postponed VAT accounting can help with cash flow, but what two key things must you do before you can use it?
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Trouble repaying The Bounce Back Loan
In this handy guide, we share the steps businesses can take if they’re worried they’ll struggle to repay the Government’s BBLS or CBILS financial support
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MTB Making Tax Digital
In this detailed guide, we look at the practical issues of MTD for businesses and business owners, especially those who are not used to keeping digital records or using bookkeeping or accounting software
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HMRC tightens CIS rules
New rules will apply from April 2021 to make the Construction Industry Scheme (CIS) tougher. As a contractor or subcontractor in the industry what do you need to know?
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Cut in CO2 emissions thresholds for business cars
The government is altering the CO2 emissions threshold for capital allowances to encourage the use of electric cars. What’s changing?
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Reduced VAT for Construction
We explain how construction firms can take advantage of HMRC’s reduced VAT tax break and how it can help increase your sales
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Self Assessment Time to Pay Scheme
Self Assessment ‘Time to Pay’ gives you the option to spread the cost of your tax bill for the 2019/20 tax year, discover more…
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Creative Industry, Cashflow & COVID 19
The Creative Industries Tax Relief can significantly lower your company’s Corporation Tax liability and may be the saving grace your organisation needs to navigate through these uncertain times.
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What help is available for small businesses affected by coronavirus (COVID-19)?
Coronavirus – COVID-19. We’ve put together this hub to help you navigate the constantly changing support available to businesses from the government
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Get Invoices Paid: Coronavirus Support
Construction Industry Scheme rebate fast track – with 50% off our usual fee to help support construction industry clients during these difficult times.
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