As a business owner or freelancer, filing your self-assessment tax return can be a daunting task. However, completing it early has numerous advantages that can make your life much easier. In this blog post, we’ll discuss the benefits of filing your tax return early, and how Southside Accountants Wimbledon can help you achieve a seamless, stress-free process…. Continue Reading
Managing finances is a crucial aspect for small limited company owner-directors, particularly when it comes to navigating the tax landscape. One way to optimise your tax situation is by claiming home expenses, which can help reduce your tax liabilities.
In this blog, we will discuss how small limited company owner-directors can claim home expenses based on UK rules and the potential Capital Gains Tax implications when selling a home used for business purposes…. Continue Reading
In business and finance, working with a reliable and competent accountant is crucial for the success and stability of your enterprise. When seeking professional accounting services, it is essential to choose an accountant with an ACCA Practising Certificate, ensuring that they have met the rigorous standards of the Association of Chartered Certified Accountants (ACCA).
In this blog post, we will explore the benefits of partnering with an ACCA-certified accountant and the potential pitfalls of working with an accountant without an ACCA Practising Certificate…. Continue Reading
As a small limited company owner or director, one of the key decisions you need to make is how to manage travel expenses for business purposes. In this blog, we explore the circumstances under which it is more beneficial to claim mileage rate per business mile instead of providing a company car, and also consider the implications of choosing electric cars…. Continue Reading
With summer just around the corner, there’s no better time to consider eco-friendly alternatives for your daily commute or short trips. As the director of a small limited company, you may be wondering if there are any tax benefits to using a company bicycle. In this blog, we’ll explore the tax rules around company bicycles for owners/directors of small limited companies and how you can make the most of this green mode of transportation…. Continue Reading
If you are self-employed as a sole trader and have earned more than £1,000 in the relevant tax year before deducting any tax reliefs, you must submit a self-assessment tax return.
In this guide, we’ll take you through everything you need to know about filing your first self-assessment tax return, including when you need to do it, why submitting it early is beneficial, and whether you need an accountant to help you…. Continue Reading
The UK government initiated its endeavour to establish a more efficient tax system in 2019. In this article, we provide an update on the progress of Making Tax Digital (MTD) and discuss future developments…. Continue Reading
Operating a beauty salon can be a rewarding and profitable venture. However, it’s crucial for salon owners to understand the legal implications of their business structure and the protections it offers against claims for negligent work in beauty therapy. In this blog post, we’ll discuss the differences between operating as a limited liability company (LLC) and a sole trader in the UK, focusing on the extent of protection each structure offers…. Continue Reading
In this guide, we delve into essential topics for landlords and property owners, including tax relief on mortgage interest for let properties, profit extraction strategies, and addressing National Insurance Contribution (NIC) gaps.
As regulations and allowances continue to change, it’s crucial to stay informed and make well-informed decisions to maximise your tax benefits and secure your financial future…. Continue Reading
If you’re a self-employed trader or a limited company, HM Revenue and Customs (HMRC) may occasionally conduct a tax investigation into your business to ensure that you’re paying the correct amount of tax. These checks are likely to increase in the years to come…. Continue Reading
