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Is your business operating in a premises which you own and originally purchased from someone else? There’s a good chance that you are entitled to some unclaimed tax benefits. These are typically worth thousands of pounds, in cash, to you. The key to realising these benefits is to a) identify the value of “embedded fixtures” … Continue reading “Hidden tax benefits in your business property”

Commencement of trade must be notified by 5 October following the end of the tax year in which the first day of trading falls.  There are penalties for failure to notify which can be accessed via:  https://www.gov.uk/log-in-file-self-assessment-tax-return/register-if-youre-self-employed Note that commencement of trade is when the business is ready to accept its first customer.  At the … Continue reading “SOLE TRADER STARTUP TAX MATTERS TO CONSIDER”

We operate on a no gain no fee basis – check your eligibility with us : 0118 934 9487 Why R&D might benefit a Small and Medium Sized Entity (SME) Because and SME can obtain a 44% tax relief on activities classified as R&D, as against the standard 19% tax relief on operating costs. Where … Continue reading “R&D tax relief”

The various initiatives to help SMEs announced by the government since the outbreak of the Coronavirus crisis comprise a mix of various grants and loans outlined below. It excludes those targeted at larger companies (eg the Coronavirus Large Business Interruption Loans Scheme).  Initiatives such as the start-up loan and R&D tax credit schemes which remain … Continue reading “SME COVID 19 SUPPORT MEASURES (as at June 2020)”

Optimising the Salary vs Dividend trade-off This blog expands on a point we made in our earlier general tax saving guide and looks in more detail at how best to take regular money out of an owner managed limited company in terms of dividends and or salary.  In all instances we need to examine the … Continue reading “Salaries vs. Dividends”

How to speed up client payments Previously we quantified the problem of late client payments which continues to be a massive problem for UK SMEs.  This blog outlines some simple steps to mitigate the problem for your company. The key is to take action now, before it poses serious cashflow issues. Clarify your payment terms … Continue reading “How to speed up client payments”