Pro-Taxman

IR35 and off-payroll working – What to do from 6 April 2021 if you provide services through an intermediary

Prior to 6 April 2021, workers who provide their services to a private sector organisation through an intermediary, such as a personal service company, need to consider whether the IR35 rules apply to them. This will be the case if the nature of the engagement is such that if they provided their services directly to …

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Payroll Management – How To Handle Payroll Taxes

We’ve included useful tools and calculators, but most employers find it easiest to get professional payroll help. Your accountant can advise you on what system would suit you best and the services on offer. Payroll tax and PAYE Payroll taxes are generally collected through the PAYE (Pay As You Earn) system operated by employers. If you have …

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Tax Audit – What You Need To Know

Many businesses will face a routine tax audit from time to time. More serious tax investigations are likely if HM Revenue & Customs (HMRC) suspects your tax returns are inaccurate. Tax audits and tax investigations can be complex and very stressful. Unless you are very sure of your position, you should take professional advice as …

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Personal & Business Capital Gains

Personal and business capital gains are treated differently, depending on whether you are self-employed (as a sole trader or in a partnership) or trade as a limited company Personal capital gains (eg on privately owned shares) and business gains made by the self-employed are dealt with through capital gains tax (CGT) while capital gains made …

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Landlords – Don’t overlook these common deductible expenses

As a landlord, the lower the taxable profit from your property rental business, the less tax you will pay. As allowable expenses are deducted from rental income to arrive at the profit figure, it is important that you do not overlook any expenses which you have incurred and which can be deducted when working out …

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Self Assessment: Income Tax Allowances & Reliefs

Income tax allowances and reliefs let you reduce the amount of income tax you have to pay. Income tax allowances and reliefs can apply to income from employment, self-employment, savings and investment, and property income Some allowances and reliefs will automatically be applied by HM Revenue & Customs when you submit your tax return. But …

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Everything You Need To Know About Corporation Tax

Corporation tax is charged on a company’s profits. If you trade as a limited company, you’ll want to ensure that paying corporation tax is as painless as possible – both in terms of paperwork and the total corporation tax payable. In terms of corporation tax rates, the UK rate is relatively low – significantly lower …

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Property Tax Overview by Small Business Accountants in Hounslow

In response to the ongoing coronavirus outbreak, the Government has announced that from 8 July 2020 until 30 June 2021 no stamp duty will be payable on the first £500,000 of a residential property purchase in England and Northern Ireland. The nil band will then drop to £250,000 until 30 September, returning to the normal level …

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Small Business Accountants Hounslow

In ideal world, everything goes as per your set business plan. But in reality, many Small Business Accountants experience growth bumps, resulting in unexpected income and expenditure and increased need of accounting help. Whether you are looking for new avenues to expand your business, needing ways to increase productivity, or looking for way to expand …

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Small Business Tax Filing Services – Tax Strategies To Minimise Your Tax Bill

Looking for Small Business Tax Filing Services? At Pro-Taxman, we offer tax advise on a range of key tax and financial planning issues. Here we consider strategies to help you to minimise your tax bill, maximise your profitability and boost your wealth. The impact of the COVID-19 pandemic has presented the UK with major challenges, …

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