Changing Accountants – Isn’t it a hassle?

The decision to change accountants is not often taken lightly and we have written a simple guide to changing accountants. Take a look at our guide to changing accountants Our 3 step process makes it simple and easy so if you are looking for a new accountant in Shoreham, Southwick, Brighton or Worthing and would […]

Self Assessment Tax Return Deadline Looming

It may be over two months away but the Self Assessment Tax return deadline is looming. All returns, and payment of tax owed, needs to be with HMRC by 31st January 2014. In previous year’s the HMRC website has failed to cope particularly well so it is wise to get your return in early. If […]

A guide to VAT

The UK tax system is pretty complicated and VAT in particular causes many headaches for small businesses. We have written a summary of the key aspects to help you determine whether you should be VAT registered and ensure you are on the best scheme for your business. A guide to VAT If you have got any […]

Why should I do my bookkeeping regularly?

When a small business owner is busy, we all know that doing the bookkeeping is the last thing you want to do, however, we thought we would share some examples of why you should ‘do the books’ regularly.

A guide to self employed simplified expenses

All self employed people need to keep records of their income and expenses and HMRC have made it that bit easier by allowing you to use simplified expenses. What expenses can I claim if I am self employed?

Do I need to complete a tax return?

You are required to submit a tax return if HMRC have issued you with a notice to complete a return; or Your tax liability on the income you have received in the year is more than the tax that has been deducted from that income before it was paid to you.

Gift aid – Beware the non-tax payer

If HMRC discovers that a charity has claimed gift aid relief on a gift by a non-taxpayer, the legal liability to repay the tax falls on the donor. HMRC have said that they would look to the charity to repay the tax and I’m sure most do. But, if the charity cannot or does not […]

Income Tax changes and planning opportunties

WIth very few options open to the chancellor in the recent budget the following changes were made to income tax: For 2014/15 the personal allowance for those born after 5 April 1948 will be increased to £10,000. As a consequence of the above increase, the basic rate limit for 2014/15 will be reduced to £31,865 and […]

Do you know anyone who rents out a property?

Anyone who receives income from letting a property has to declare it to HMRC even if you don’t make a profit. This needs to be done everey year on a self assessment tax return.

Only 8 days to go….

Only 8 days to go to submit your self assessment tax return! Don’t forget to actually pay the bill as well. Details of how to pay are here: http://www.hmrc.gov.uk/payinghmrc/selfassessment.htm