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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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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Business tax changes: 2019 round-up
It’s not just Making Tax Digital that you need to be aware of. There are a gambit of changes on the way for 2019/2020. Here’s our round-up.
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Facing Brexit: Financial management tips for small business
Amid the uncertainty of Britain’s departure from the EU, we look at a few key financial management improvements SMEs can make in order to achieve a little more certainty within their individual business.
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Oscar Fairchild supports the Taxi Driver of the Year Charity Fund
Do you know whether your business is affected by the new Making Tax Digital rules? Find out everything you need to know in our handy guide to the new government plans…
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Redwood Clarke becomes Oscar Fairchild
According to AAT, four in five small business owners lose an average of £15,000 a year due to poor financial management. We show you how to take back control…
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3 common bookkeeping mistakes and how to avoid them
From un-trained staff to the dreaded ‘profit & loss haze’, we share bookkeeping mistakes which have the power to de-rail your business…
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