As an entrepreneur, a lot of you will reach the point where you need capital to support the growth of your business. You will then work on your business plan, create a pitch deck, and set off to woo potential investors. But here is one more critical task you may …
There are encouraging messages in the Budget for technology and innovation companies. Specific points are: R&D Expenditure Credit Scheme (RDEC) taxable credit will increase to 12% from 11%. Promise to double the EIS investment limit (currently £1m) for investors on knowledge incentive companies. £2.3bn more government investment on R&D. This …
The government introduced a scheme (SME scheme) to incentivise scientific and technological innovation. If your company conducts R&D activities and your company is subject to Corporation Tax, the R&D tax relief can either reduce your tax bill or give you tax credit in cash, depending on how you choose, both …
The new tax rules taking effect in 2017/18 have been much discussed. But if you are a landlord and let out one or more properties, you will still be wondering what your new tax bill will be like after April next year, and should you be changing your tax strategy? …
We’ve all worked extremely hard – pushed to get one more sale; got that product over the line; secured another client contract – and expect to be rewarded correspondingly. Yet frequently we are disappointed when we receive a seemingly enormous tax bill. So how can you optimise your tax bill? …
If you want to attract investment to your company, remember HMRC offers generous tax incentive schemes to your investors – Enterprise Investment Scheme (EIS) is designed to help qualified smaller, higher-risk companies raise capital by giving tax relief to investors. An individual investor can invest up to £1,000,000 (and £2,000,000 …
If you run a limited company and have registered as an employer, you will have been sent letters about employer pension auto-enrolment at certain staging date by pension regulators. What actions do you need to take? It depends on your company’s structure: if you hire employees, even if they are …
If you are thinking about starting your own company or leaving your permanent role and taking on a contract role, and you are wondering what the tasks are to fulfil the tax and reporting requirements, here are a list of things you need to do and by when: Register a …
HOW THE INTRODUCTION OF THE NEW 16.5% VAT FLAT RATE COULD AFFECT CONTRACTORS FROM APRIL 2017? Effective from 1 April 2017, The VAT flat rate scheme (FRS) for businesses with limited cost will increase to 16.5% from their current rate, based on defined criteria for a ‘limited cost trader.’ So …
The change that will affect contractors and other limited company owners is the reduction of dividend allowance from £5,000 to £2,000. So that means an extra £3,000 will be taxed at either: 32.5% rate, this equals to £975 more tax you have to pay. Most contractors’ income level will fall …