Modern Day Accounting in Hounslow
Accounting tends to be one of the most crucial factors for any business. This is essential because of the reason that this particular business function
February 15, 2020
Benefits of Hiring Hounslow Accountants
As soon as you start a venture, you’ve to journalize transactions. Whether it’s sales, purchases, salary payments, expenses, or other items, keeping accurate records is
February 4, 2020
What To Look For When Hiring An Accountant In Hounslow?
Recruiting employees can be one of the most integral functions of any organization. Recruitment is a costly function, and organizations need to consider a number
January 20, 2020
How to Cost-Effectively Manage your Accounting Division?
cheap accounting Hounslow: Competition across the globe has been intensifying at an increasing pace over the course of time. In this regard, businesses in the
January 15, 2020
It is easy to fall into the trap of assuming that legal and professional costs can be computed in calculating taxable profits if they are incurred wholly and exclusively for the purposes of the business; however this is only part of the story.
Legal and professional fees – Capital or revenue? At some point, a landlord is likely to incur legal and professional fees in connection with the
January 9, 2020
Renting out a property at a rate below the commercial level might sound like a great idea – but it might cost you dearly if you try to seek tax relief for your expenses!
Properties not let at a commercial rent There may be a number of reasons why a property is occupied rent-free or let out at rent
January 6, 2020
This blog explains what qualifies for relief for finance costs, the limit on eligible borrowings, and how capital repayments work with a quick example.
Allowable finance costs Although the way in which landlords obtain relief for finance costs on residential properties is changing, there is no change to the
January 3, 2020
In essence, it’s all about the ‘wholly and exclusively’ test – could it be time to invest in some branded sweatshirts?
Dual purpose expenditure – can landlords claim a deduction? Landlords are able to claim tax relief for expenses that are incurred wholly and exclusively for
December 11, 2019
In this blog we set out the three conditions property must meet to be considered a furnished holiday let and to access all the advantages they bring, and top tip – letting to family or friends at a reduced rate doesn’t count!
Many Airbnb lets are used as holiday accommodation. From a tax perspective, furnished holiday lettings enjoy some tax advantages over other lets. So, is it
December 9, 2019
Landlords – you must file your self-assessment tax return by 31 January 2020 to avoid a late filing penalty. Here’s what you need to know:
The self-assessment deadline is looming. Self-assessment tax returns for the year to 5 April 2019 must be filed online by 31 January 2020 if a
December 7, 2019
As business owners we all want to make sure our company is a great place to work. Have you considered giving your employees or even their family members educational scholarships?
Partnership rather than a limited company. We explain why in today’s blog. Employer-funded scholarships Special tax rules apply to scholarships, which include exhibitions, bursaries or
November 18, 2019
In many cases, an LLP is likely to be more attractive to those who would have formed a partnership rather than a limited company. We explain why in today’s blog.
Weighing up LLPs A limited liability partnership (LLP) is similar to an ordinary partnership in that a number of people or limited companies join together
November 17, 2019
Generally, tax relief is available, but the rules are different if you’re a small business using the cash basis…
Tax relief on business-related loans Subject to certain conditions and restrictions, tax relief will generally be available for interest paid on loans to, or overdrafts
November 16, 2019
Be careful when borrowing money from your company as a director – you might fall foul of the ‘bed and breakfasting’ scenario
Directors’ loans – Beware of ‘bed and breakfasting’ It can make sense financially for directors of personal and family companies to borrow money from the
November 15, 2019
With holiday season in full swing, we explain the strict scenarios where you can deduct for business entertaining and gifts in calculating taxable profits.
Can we deduct entertaining expenses? The tax rules on the deductibility of entertaining expenses are harsh and often misunderstood – the fact that the expenditure
November 14, 2019
From 6 April 2020, the way in which carbon dioxide emissions for cars are measured is changing – read more here.
Zero charge for zero emission cars From 6 April 2020, the way in which carbon dioxide emissions for cars are measured is changing – moving
November 13, 2019
The last thing you want for Christmas is an inheritance tax liability! Read this blog to make sure you don’t get caught.
Beware of triggering an IHT bill on Christmas gifts When deciding what to give as Christmas gifts, the possibility of triggering an unintended inheritance tax
November 8, 2019
It can pay off to keep track of your business mileage you incur for your rental properties – here’s why.
Using your car in your property rental business Landlords will often use their car for the purposes of their property rental business. Where they do
November 7, 2019
Joint tenants v tenants in common – Which you choose will depend on whether you’d like flexibility in allocating property income, and how you want your property to be passed on.
Joint tenants v tenants in common – Does it matter? There are two different ways of owning property jointly – as joint tenants or as
November 4, 2019
Failing to take your record keeping obligations seriously as a landlord could mean that you pay more tax than necessary, or worse that you could be on the receiving end of a penalty from HMRC.
Buying a property to let – the importance of keeping records from day one For tax purposes, good record keeping is essential. Without complete and
October 8, 2019