No one wants to pay more tax than they are required to and yet every year hundreds of thousands of taxpayers miss out on opportunities to reduce their tax bill. The clock is now ticking down to the end of the tax year in April, and with many experiencing a squeeze on living standards, there […]
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Making Tax Digital for VAT – What you need to know
The next few years will see several significant changes to taxation, including, more immediately, the further expansion of Making Tax Digital (MTD) for VAT in April this year.
Read moreAccessing the Coronavirus Job Retention Scheme
With substantial restrictions for everyone on the circumstances in which we can leave our homes, and many businesses being forced to close, the Chancellor has announced a scheme to reimburse up to 80 per cent of the cost of the wages of ‘furloughed workers’. What is a ‘furloughed worker’? Anyone designated as a ‘furloughed worker’ […]
Read moreGovernment support help with the economic impact of Coronavirus – Here’s what businesses need to know
In recent days, a whole raft of business support measures have been announced by the Government, designed to help business owners protect their companies and support their employees. Here at Midgley Snelling we have put together a summary of the various support schemes currently available, the eligibility criteria and how you can apply. Please click […]
Read moreWhat happens if I have been selected for a tax investigation?
Being subjected to a tax investigation can be a very stressful experience. Any person or business can be selected for an HM Revenue & Customs (HMRC) investigation at potentially any time – meaning you never know when an enquiry might be just around the corner. The process typically begins with a letter from HMRC notifying […]
Read moreHow much can I pay into my Pension?
Since April 2014 only £40,000 can be paid into your pension each year before you need to pay tax on it and declare it on a self-assessment tax return. This £40,000 includes all money paid into your pension – whether that is invested yourself or another party pays, such as your employer. It is, however, […]
Read moreWhat happens if I want to plan for retirement?
Thinking ahead when it comes to retirement planning is vital for any business owner who wants to enjoy a financially comfortable life in their later years and pass on their successes to the next generation in a tax-efficient and sensible way.
Read moreWhat are the consequences of doing nothing about Making Tax Digital?
What is Making Tax Digital (MTD)?
Read moreWhat happens if I have a capital gain?
Self-employed business owners and individuals who choose to dispose of anything that might be considered an ‘appreciating asset’ – such as commercial premises or a buy-to-let property – need to be aware of the complex rules governing Capital Gains Tax (CGT) in the UK.
Read moreWhat happens if I want to invest in property?
Britain’s property market has always been regarded as a sound and sensible place to invest your money, regardless of whether you are an aspiring landlord or just looking to purchase a home to sell-on in a few years’ time.
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