In Feburary the Tax Tribunal case of Christa Ackroyd Media Ltd vs HMRC was reported. This was a company set up by a TV presenter to supply her services to the BBC. In this case it was held that the IR35 personal service company rules… Read More »HMRC Lose IR35 Case
What are payments on account, why do you have them and can you reduce them? Whether you are completing your first ever tax return or you have been completing them for years – a lot of people find themselves completely caught out by HMRC’s policy… Read More »Payments on account and can they be reduced?
The new tax year means that many directors of family companies will be considering the most tax efficient salary method for paying themselves. For many years accountants and tax advisors have suggested that director/shareholders should extract profit by paying themselves a low tax efficient salary… Read More »Tax Efficient Salary Methods
Make sure you claim your Personal Incidental Expenses(PIE’s) while working away from home. Personal Incidental Expenses are amounts that can be claimed from your company whilst you are away from home on business. For travel within the UK, you may claim £5 per night to… Read More »Personal Incidental Expenses – know what you can claim
GDPR and why you can’t ignore the implications Firstly, and we don’t say this to scare you but instead to make sure you take this topic seriously, GDPR can have massive financial penalties and reputational damage. It will not affect all of you reading this… Read More »GDPR – what it means for you
Are you ready for the minimum wage increase? As of 01/04/18 there will be a new National Minimum Wage which it will be law to adhere to. Failing to do so could result in fines or penalties so it is essential that you know it… Read More »Minimum Wage
What impact will earning over £100,000 have on your Personal Allowance? The Loss of personal allowance due to the level of income breaching the £100,000 threshold is an issue that is a double edged sword from a taxpayer’s point of view. There are a few… Read More »Loss of Personal Allowance
Have You Received your Corporation Tax Reminder? Every year on the anniversary of your Accounting Year-end HMRC will send you the above shown letter. This is basically a Reminder from them to note that you have now passed another Accounting Year-end and your Accounts are… Read More »Corporation Tax Reminder
Our QuickBooks Connect Adventure As some of you may know Cloud Accounting is where the industry is headed and at the head of the many providers of Cloud Accounting packages is Intuit with their fantastic QuickBooks. We travelled down to their annual conference in London this… Read More »QuickBooks Connect
Have you Optimised your Tax Planning for this Tax year? Before the end of every Tax year on the 5th April, it is important to ensure that you have drawn money from your Company, whether it be by salary, pension or Dividend, in a tax… Read More »Tax Planning as a Standard Service
Were you on the Flat Rate VAT Scheme? You may be due a refund. Before we get into the value you could stand to reclaim, lets clarify who is eligible for a refund using the following criteria: – Are you a Limited Company servicing the… Read More »Flat Rate VAT Reclaim
Welcome to our first blog post! This space is to be used for information that is hopefully going to be both useful and, when we can manage it, interesting. We thought it best to start off by letting you know who we are as a… Read More »Who are Grampian Accounting?
