On 5th April you’ll need to pay. Pay your tax bill, that is. And although you’ve planned for it, saved for it, made sure you remember that it’s got to happen, sometimes it can still be a bit of a surprise – not to mention a shock when those figures come rolling in....read more
So you’re setting up your own business, and it’s been fairly smooth sailing – as far as these big decisions can be anyway – but now you’ve hit a slight snag; should you be an LLP or Ltd? The here and now might hot help you at this point – the choice between being a...read more
PAYE (which stands for Pay As You Earn) is a way of paying your national insurance contributions and income tax without you as an employee having to do anything about it. As an employer, your payroll person or your accountant (if you use a payroll person, and if your...read more
Where does your accountant set up shop? Well, if you’re with us at Yorkshire Accountancy, you’ll know we’re based in the stunning village of Cottingham, just outside Beverley. It’s quirky and charming, and we love it. And thanks to the Internet, we’ve got a nationwide...read more
Chancellor George Osborne has always – so he says – wanted a tax system that was simpler for the general public and companies alike to comprehend (and therefore get right). But so far that hasn’t happened. In fact, if anything, the tax system is now even more...read more
Higher earners in Scotland (those who earn over £42,385) pay a 40p income tax rate – just like those in the rest of the UK. However, now that Holyrood has new tax powers (which come into effect in April), Ruth Davidson (the Scottish Tory leader) wants to lower this...read more
We’re only a few days into 2016, and it’s already a record breaking year. We’re not here to tell you that X is the best film of 2016 (in January), or that the best-selling music download is Y (although we’re fairly certain that if you typed those questions into Google...read more
Mexico had a problem – the country’s obesity rate is the second highest in the world, with only America topping the scales. So the government decided that something had to be done; something drastic. One year ago, that drastic something happened; a tax was put on...read more
As we’re sure you’re aware (it’s been all over the news), Google’s tax payments are a hot topic again; and that’s thanks to a worldwide web of loopholes that mean the French government are set to be paid £380m, even though the UK is where Google have most staff and...read more
There’s an old joke that goes something like: please pay me so I can pay them so they can pay you! But when we look at that little phrase a bit more closely, what at first seems like a bit of a throwaway funny is actually the sad truth. Everyone and everything is...read more
If you have a self assessment tax return to complete, you should know that the deadline is looming up ahead of you – 31st January 2016 is the last day to submit your return online without incurring a penalty fine. Ideally, your tax return will already be winging its...read more
Back in the early 2000s, HM Revenue & Customs came up with an idea to quickly gather in money that was owed to it. Around 2,000 banking and IT contractors had taken part in a scheme based on the Isle of Man which was effectively put in place to save them money on...read more
Firstly, congratulations! Taking this step is huge, and it’s important, and you should be very proud of yourself. It will be hard, and it will be scary at times, but it will also be worth it. So well done. Now, onto the technicalities. If you get things right from the...read more
A little while ago we wrote about a potential ‘sugar tax’ on all things sweet and, specifically, chocolaty. The idea behind implementing such a tax was to try to cut down on the growing (no pun intended) problem of childhood obesity which, as well as making the child...read more
Big changes ahead for contractors? Is IR35 about to be dumped? http://www.iexpats.com/ir35-may-be-dumped-as-contractors-face-tax-hike/? Would you risk a tax avoidance scheme?...read more
One Direction may not be to everyone’s musical taste. But there’s no denying that sometimes they get it absolutely right. We’re not talking about their newest single (even if it is pretty catchy). We’re talking about tax (of course!). One Direction (or 1D as the cool...read more
If you pay tax in the UK, it’s HMRC (Her Majesty’s Revenue and Customs) who take the payment. They also issue fines for anyone who doesn’t make a return when they should, and they are pretty strict when it comes to following up on missing money. Or at least they are...read more
The answer to that question would most likely be a resounding ‘no’ from pretty much everyone. No one really wants to pay more tax. However, thanks to a new increase that came in on 1st November, most families across the UK will have to. It’s a tax on insurance...read more
The short answer is yes, you do. But there is more to it than a short answer, and plenty of reasons why you should speak to your chosen bank and open up a bank account dedicated specially to your business. We know it’s tempting not to bother; after all, opening up a...read more
The Future Is Now! Back To The Future Part II Finally Caught Up With Us… How Much Tax Would Biff Owe?
From now on, every time we watch Back To The Future Part II, it’s going to be a movie about the past. A past that didn’t exactly happen as it was predicted. But I’m not that bothered about hoverboards, self lacing shoes, and flying cars. For me, that film was all...read more
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