Preparing to save tax – now’s the time!

Your six-point guide to end-of-year tax planning The tax year is rapidly drawing to a close. Now is a great time to make sure all your ducks are in a row to make the most of the new 2020/21 year. Here are six tips to get you started. But don’t just depend on this...

When and how to incorporate

Over the last decade, corporation tax rates for most companies – irrespective of size – have fluctuated between 19% and 21%. The main rate of corporation tax is expected to be cut to 17% from April 2020. Current corporation tax rates are still pretty favourable...

VAT registration – sooner or later?

Once a business is up and running, the next major administrative area to be faced often concerns the subject of VAT. At first glance, it looks complicated – not to mention time-consuming – particularly for small businesses. However, taken one step at a...

Just starting out

As long as HMRC can be satisfied that a business is being run on a commercial basis with a view to making a profit, they will usually allow taxpayers to claim tax relief for a trading loss in one tax year against other taxable income (for example PAYE income or a...