by Alastair Wood | Feb 14, 2011 | Tax Advice
While everyone will have heard about the increases in NI coming up, there have been other changes which may mean you pay less tax and NI next year. All taxpayers will benefit from an increased level of Personal Allowance (the amount you get tax free) which increases...
by Alastair Wood | Jan 21, 2011 | Tax Advice
The recommendation by Alastair Wood of Gravesend accountants AW Accountingon how to pay self assessment bills is electronically as this avoids any doubt about the amount written on a cheque and potential for lost or delayed post. There are two options, using your own...
by Alastair Wood | Jan 19, 2011 | Tax Advice
The flat rate scheme is one of the simplified ways HMRC offers for calculating VAT. While you still have to charge VAT on sales, you do not have to record VAT on all of the individual entries. You may well be able to save money by registering. There is one simple...
by Alastair Wood | Jan 4, 2011 | Tax Advice
The VAT increase from 17.5 to 20% has been well publicised and everyone should be updating their software or calculations to account for VAT at 20% from 4 January. There are however various reasons why VAT may still be charged at 17.5%: The VAT charge is based on the...
by Alastair Wood | Dec 14, 2010 | Tax Advice
As we move into party season there are a number of issues which are pitfalls in planning the Christmas party. Some of the facts follow: You may claim £150 including VAT per person per annum This may cover more than one event providing the total does not exceed £150...
by Alastair Wood | Oct 18, 2010 | Tax Advice
Associated Company rules Small companies benefit from paying a lower rate of corporation tax on profits upto £300k so there is a danger that a wily director could set up a number of companies under his control to make the maximum benefit from this tax band. For this...
