Small Business: Make Cyber Security a Priority

The threat of cyberattacks is clear and present for small businesses, as most don’t have a dedicated IT department looking after cyber security. Therefore, it is always good for small business owners and entrepreneurs to attend conferences and seminars and pick up a few tips. In the past few months, we learnt a few useful tips which we thought may be beneficial to you as well. Use a Virtual…

Autumn Statement 2016 edition of Tax Tips & News

Individuals Personal allowance and basic rate limit for 2017-18 The personal allowance for 2017-18 will be increased to £11,500 (£11,000 in 2016-17), and the basic rate limit will be increased to £33,500 (£32,000 in 2016-17). The additional rate threshold will remain at £150,000 in 2017-18. It was announced that the allowance will rise to £12,500 by the end of Parliament. The marriage allowance…

Making accounting & finance better for Restaurant Owners

You have made the important first step to own and run a restaurant. You have the passion and the motivation to see you through the long and challenging hours in a hot kitchen. However, when it gets very hectic, which is ‘par for the course’ in a busy restaurant, there’s a real possibility that your restaurant’s finances will drop down the pecking order in terms of priorities. This can be…

Experienced Accountants & Other Advisers Benefit SME Owners

If you’re a small or medium-sized business (SME) owner you may find that you can benefit by working alongside experienced advisers who have been there, done that (whether for themselves in the past, or for other clients) and can help you navigate the choppy waters of business. You don’t have to do everything on your own. Even if you’re in a partnership (or you’re planning on hiring an employee…

Budget 2016: Key Takeaways for Companies

Following on from this morning's summaries on the key talking points from Budget 2016 for individuals and contractors, below we’ve summarised the key talking points for companies from Chancellor of the Exchequer George Osborne’s eighth full Budget. Focusing on small and medium-sized businesses (SMEs), this is the final part in our article series on Budget 2016. To speak with us directly about…

3 Ways to Make Tax Efficient Charitable Donations

                    We all want to receive greater tax efficiency out of our charitable giving; both for the charity, and for us. There are three main ways in which you can make tax efficient charitable donations with either you or them being able to claim tax relief on your donation, these being when you: declare (using an appropriate…

Tools for SME Accounting and Assessing Business Performance

Here at Tax Agility we’re the first to recognise that, despite the fact that keeping in regular contact with your accountant is the key to ensuring your small or medium-sized business (SME) remains in good shape, it’s still helpful to have access to certain accountancy and business assessment tools that you can take advantage of between meetings and phone calls with your accountant. For this…

Employment Allowance Increased by 50 Percent

Introduced in April 2014, Chancellor of the Exchequer George Osborne announced in July’s emergency (summer) Budget that the Employment Allowance is due to increase from £2,000 to £3,000 in April 2016. This full 50 percent increase is designed to help small and medium-sized business (SME) owners to reduce the cost of their wage bill and to offset the increased costs they may start to occur due…

Tax Tips and News for June 2015

This issue … Make the Best of Allowances; Non-resident Capital Gains Tax; EIS Assurance; Staff Clothes; June Question and Answer Section; June Key Tax Dates Make the Best of Allowances As the sole owner/director of your company you face a dilemma over how to extract income from that company. If you pay yourself a salary of more than £8,060 per year you will have to pay class 1 NIC at the…

Tax Tips and News for May 2015

This issue … Forms P11D and P9D; Cancelling VAT or VAT-MOSS Registration; ATED Reporting; Auto-enrolment exemptions; May Question and Answer Section; May Key Tax Dates Forms P11D and P9D The forms P11D and P9D need to be submitted to HMRC by 6 July 2015 where expenses or benefits were provided to your employees in 2014/15, which are not covered by a dispensation, or are not otherwise exempt…