Monthly Archives: September 2016

What You Need to Know About Personal Capital Gains Tax

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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CGT Tax PlanningIf you own a property asset or a second home and decide you want to sell it, be mindful that if it has increased in value since you acquired it – you will be susceptible to tax on the ‘capital gain’ (profit) made on the sale of that asset. Capital gains tax is also applicable to possessions like antiques or art, not just properties.

The rate of capital gains tax due has been reduced significantly from the last tax year, read below to find out more about what capital gains tax is and how it affects you.

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A Guide To Tax Inspections For SME’s

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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preparing for a tax inspectionThe prospect of an HMRC tax inspection can be a daunting one for businesses of any size, but particularly for SME’s who may not have an accountant. The most common investigations into businesses are in relation to fraud, tax evasion and payroll tax errors.

A recent study publicised by the ICAEW indicated that since a crackdown on payroll tax errors over half of all additional sums collected in penalties were incurred by small to medium sized businesses (SME’s), despite only making up 11% (£96bn) of total UK payroll.

But what can a business do to make an HMRC tax investigation less likely, and how can the business prepare when the tax inspectors do come calling?

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 Outsourcing Your Payroll: What You Need To Know

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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Outsourcing your payroll Running payroll in-house for your business can be a complicated and potentially overwhelming task, requiring qualified staff to ensure compliance with legislation that often changes in order to avoid fines, as well as ensuring your employees are paid correctly and on time.

For many companies, the time and expense taken to keep payroll management in-house is considerably greater than the cost of outsourcing to a payroll provider. In our latest post, we take a look at the main benefits and drawbacks of outsourcing your payroll.

In our latest post, we take a look at the main benefits and drawbacks of outsourcing your payroll.

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