Companies House Confirmation Statement
The replacement for the Annual Return was made on 1 July 2016 and the new Companies House Confirmation Statement must now be used. This incorporates the People with Significant Control (PSC) statement. Most of our clients will continue to complete this online using...
How to share Easybooks with your accountant
With a number of Easybooks clients coming on board, potential clients may ask how to share Easybooks with your accountant. Mathew from Easybooks sent the following video of the process which will hopefully answer that question: [video width="1360" height="1216"...
Budget 2016 putting the next generation first
The Budget 2016 was full of soundbites: putting the next generation first; act now so we don't have to pay later; helping working people keep more of the money they earn a key; fix our plans to fit the figures, not fix the figures to fit our plans. While according to...
Balance sheet and dividends
The balance sheet shows the limit of what dividends can be drawn: This is made up of the following sections: Fixed assets Current assets Current liabilities Net current assets (or liabilities) Long term liabilities Which is made up by the reserves (a limited company...
Profit and loss explained
This time we look at the profit and loss account: The format of a profit and loss account is pretty standard and of particular interets this time is how much can be drawn as a dividend. From the top Sales - this is the value of goods or services sold Cost of sales -...
Dividend tax planning options
There are dividend tax planning options which can be taken before 5 April 2016 to extract as much as possible before the changes take effect: I am advising clients who have profit and loss reserves as follows: If they are basic rate taxpayers to draw as much as...
Dividend tax for higher rate taxpayers
In the second part of the dividend tax series we consider the situation for higher rate taxpayers In summary Even higher rate taxpayers will receive the £5k tax free allowance Once the higher rate threshold has been passed the dividend tax will be 32.5% If a business...
Dividend tax for basic rate taxpayers
Watch my video to see how this new dividend tax will affect you as a basic rate taxpayer after 6 April 2016 In summary Everyone will receive the £5k tax free allowance This will only apply once your income has exceeded the personal allowance limit (£10.6k 2015/16)...
Mortgage references SA302 or Tax Year Overview
Hopefully common sense will prevail and avoid the need to call HMRC but our current experience is that lenders continue to ask for SA302s
Autumn Statement and Spending Review 2015
With two Budget's already this year the Chancellor clearly felt he had said enough about tax changes and in the Autumn Statement stuck mainly to statistics on the improving economy quoting many positive percentages from the Office for Budgetary Responsibility (OBR). ...