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Bookkeeping

Please find below all the articles that have been tagged as 'Bookkeeping'.

Don’t get a Tax Hangover from your Christmas Party

While some might complain about Christmas paraphernalia popping up in the shops earlier and earlier each year, the tax-savvy will tell you that planning ahead for the Christmas party is vital if you want to avoid giving HMRC an unplanned and costly gift.

 

The annual celebration is a time to relax and to toast the successes of the year.

And it is perhaps an opportunity to get reacquainted with colleagues on a more personal basis, after a year of simply nodding to them on the way in…

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Landlords Tax Reform

Once the dust has settled on what was a radical far reaching budget by Chancellor of the Exchequer George Osborne, one of the more unexpected changes was the reform that will be brought in to change the way that property landlords will be taxed in future.  There were several changes which we will examine in this blog

Tax relief on mortgage interest

Currently where a loan or mortgage is taken out to purchase, or renovate an investment property full tax relief…

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What Tax Rate do you Pay?

A question we are often asked is, how can I reduce my tax bill?

A simple question on the face of it, but how simple is the UK tax system?

An income taxpayer might reasonably assume that there are only three rates of tax within the UK, basic rate tax at 20%, higher rate tax at 40% and the additional rate at 45%, and they would technically be correct.  However the reality of the UK tax system is that your personal circumstances…

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Unpaid Self Assessment Tax Surcharge Imminent

If you have not made arrangements to settle your outstanding self-assessment tax, which was due for payment on 31 January 2015, penalties could be levied by HMRC.  In order to avoid a 5% surcharge being levied on your balancing payment for 2013/14, payment will need to be made no later than 2 March 2015.  HMRC is taking a very stringent approach with taxpayers with little clemency for late payment. The easiest method to settle the outstanding tax is via…

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Salaried Members of LLPs

Do you operate your business as an LLP? If you do, you need to be aware of the change in tax treatment of certain LLP members from 6 April 2014. Members who meet all of these conditions will be taxed as employees:

 

A. works for the LLP as an LLP member and at least 80% of the amounts paid to him for that work are disguised salary;

 

B. does not have significant influence over the affairs of the whole of the LLP; and

 

C. is not required to contribute funds to…

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