This author has yet to write their bio.Meanwhile lets just say that we are proud Tracy Keeble contributed a whooping 202 entries.
2019 looks to be the year that HMRC crackdown on tax avoidance once and for all, making sure that larger companies who have been hoarding wealth and avoiding tax by diverting profits finally get their comeuppance. One of the ways in which tax avoidance is being tackled is with the profit diversion compliance facility. What […]
If you are self-employed or a business owner, you’ll need to complete and file a tax return for each tax year. You need to be as clear and accurate as possible on your tax return so that you ensure that you are paying exactly the right amount. You also need to file your return on […]
The Requirement to Correct, or RTC, is a piece of legislation which demands that all UK taxpayers to get in touch with HMRC and notify them if they have offshore tax liabilities that had so far gone undeclared. This includes Capital Gains Tax, Income Tax, and Inheritance Tax. The final date for RTC was 30th […]
The self-assessment has been with us since its introduction in the tax year 1995/1996. Before the age of “tax doesn’t have to be taxing,” the responsibility of calculating what someone’s tax liability was belonged to HMRC. It will come as little surprise to anyone who has dealt with them that this frequently meant they were […]
Legislation comes into force in April 2019 that will force those who have used a disguised remuneration scheme to pay or receive wages to pay back the tax that they avoided, and thus owe to HMRC. But what does this mean and who is affected? What is disguised remuneration? Colloquially referred to as the ‘2019 […]
The number of buy to let mortgages fell drastically in 2016 and 2017, from 117,500 in 2015 to 74,900 in 2017, a two year drop of 38%, which has prompted many news outlets to herald the ‘death of buy to let’. A number of factors have contributed to this drop, including a 3% stamp duty […]
Self employment isn’t as simple as finding clients and starting to work. Before you can start working for yourself you need to carefully weigh the pros and cons of the legal form your business is going to take. There are two ways in which you can work as a self-employed person, and there are benefits […]
If you are starting a small business, or working as a sole trader, it might be worth looking into hiring an accountant instead of trying to handle your accounts yourself. When you are first getting started, it might be fairly easy to stay on top of your accounts. You’ll only really need to keep simple […]
Two million married couples and civil partners are missing out on the Marriage Allowance. Because so many of us have not taken up the allowance, it’s saving HMRC a massive £1.3bn every year. For Accounting Gem clients who are married or in a civil partnership, is this worth considering for your circumstances? By claiming it, […]
Is someone undercutting your prices? Has a new competitor opened up and you can see from your takings that your customers are leaving you for them? It’s a scary situation. Price is surely only one consideration when it comes to people parting with their money to spend cash with you. Often, it isn’t though. It’s […]
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