Because the benefit in kind tax is so low at the moment on electric cars it can make it attractive for owners of companies to make them available for their employees. The benefit in kind rate for pure electric cars are significantly lower than they are for petrol and diesel cars.
Read MoreThe UK officially left the EU on the 1st of January 2021 and since then the vat rules for charging vat on goods and services to EU countries has changed slightly. The EU is now treated as being outside of the UK vat system.
Read MoreDeciding how to pay yourself from your company requires a little bit of financial planning from a tax point of view. You are looking to keep to minimum the amount of tax you pay, but also do it in a way that is compliant. Finding the right mix of the payments that you take requires a bit of understanding about you and your company.
Read MoreThe IR35 or Off-payroll working rules are what HM Revenue uses to describe when an individual provides their services to another business through their own personal service company.
This employment chain can be quite simple in that it just involves the individual's personal service company and the end client, or it can be complex with a number of third parties involved. However long this chain is HMRC will look to see the end client that the individual is working for in this chain and a decision will be made if it is inside or outside IR35.
Read MoreIt is getting close to the time that you need to be sending your personal self assessment tax return to HM Revenue and Customs. The self assessment tax return form is something that everyone must do if they meet the following criteria
Read MoreWe offer a full range of accountancy services for creative freelancers and creative agencies.
We can help you complete and submit your accounts and tax returns to Companies House and HM Revenue and Customs
Read MoreThe Creative Industry reliefs consist of a number of tax reliefs targeted to companies that work in the creative arts. These include
Video Games
Films
Animations
High End Television
Children's television
You need to register for VAT when the sales for your business goes above £85,000 for any 12-month period. You can choose to register before you get to that amount if you want to, this is called a voluntary registration.
Read MoreWe get asked a lot by our clients can I buy a car through my limited company? This is normally a way to ask can I include my car expenses in my company accounts.
Read MoreThere have been several updates in the tax rates for the tax year April 6th 2020 to April 5th 2021, these changes affect the tax rates for England & Wales and the tax rates for Scotland. The tax-free allowance remains unchanged at £12500 per year.
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One of the most frequent questions we get asked by our clients is what taxes do I have to pay and when do I have to pay them?
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