Chancellor’s reforms weaken UK economy

KPP have widely criticised Chancellor Philip Hammond’s recent claim that he is building “an economy that works for everyone” in his autumn statement. As an accountancy firm, KPP argue that the government doesn’t understand the modern way of working in Britain and that he has left millions out of pocket. These huge reforms greatly challenge … Continued

Claiming Expenses as an I.T. Contractor

If you run a limited company, there are a variety of different business expenses you may incur. However there are various rules & some common errors you should avoid when it comes to claiming these expenses back. When it comes to expense claims you should bear the following in mind: You can only reclaim expenses … Continued

VAT for business: What you need to know

  VAT is a type of business TAX all members of the Common Market and European Union have to sign up to. You can only charge VAT on top of the price of your products or services if you are a VAT registered company. If you’re a VAT registered business, you must report how much … Continued

How to win the tax race

There have been changes recently to travel and subsistence expenses and dividend tax and these changes seem to have hit contractors and freelancers the hardest. The question on everyone’s lips though is how will the dividend tax rise affect small businesses? The best advice for freelancers and contractors would be to form a limited company … Continued

Travelling on Business

Can HMRC dictate where you can stay while on business? Travel and subsistence costs that are reimbursed to employees are being reviewed by HMRC. The enquiry states that these expenses are excessive and taxable additions to business excursions. Business Expenses  A company can regard business expenses that are reimbursed to employees as exempt from tax … Continued

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Taking on the new Tax Year – looking to the future

Accountants and clients alike can share a sigh of relief as we reach the tax year-end, accounts are filed with HMRC, and everyone is ready to take on the new tax year with renewed energy and strength.   As we start the new tax year, it is important that clients reflect and take a fresh … Continued

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