A few clients have been asking us how the changes to the VAT rate will affect their businesses. -          If you sell to the public your prices will be seen to increase without any additional profit to the business. -          If you sell to other businesses who are VAT registered this change in the VAT [...]

Below are the key points from the Emergency Budget issued on Tuesday:

The second payment on account is due to be paid by 31 July if you are paying tax under self assessment. These payments on account are calculated using your tax liability from the prior year. Therefore, if your tax liability will be less this year you will be overpaying your payments on account.

If you employ staff and provide them with anything other than pay it may count as a benefit. These have to be reported annually to the Revenue using a P11d form and the deadline for filing these is 6 July.Examples of items that need to go on a P11d are company cars, medical insurance or [...]

Gail (with the help of Robin Wilson) managed to win the Hove Business Association Annual Croquet Tournament last night so please see below a lovely photo of Gail with her trophy!

We meet a lot of people who prepare their own tax returns to save having to pay an accountant. However, sometimes this turns out to be a false economy as there are some expenses they could be claiming against their income to reduce their tax liability of which they are not aware. The most common [...]