News

A note to all current or prospective clients on the Pension changes and how they relate to our speciality for SSAS pension schemes as a tax saving measure.   Flexible Access Pension savers can now withdraw up to 25% of their total pension pot tax free from the moment they turn 55.   This can be…

HMRC has launched a new campaign targeting white collar professionals as it continues its high profile clampdown on underpaid taxes. Solicitors are now being urged to come forward and voluntarily declare any unpaid tax before a June deadline or face hefty penalties. Many accountants have reported to us that HMRC is broadening its range of…

The HMRC cycle to work scheme is a scheme which offers a great way for small traders to purchase a bicycle while claiming capital allowances on it.   In its simplest form, which is the form most likely to be used by a small company, the business can make a purchase of bicycles and cycling…

(See the previous two blog posts for more information on withdrawing cash from your company) The final way of withdrawing money from your company in a tax efficient manner is by paying yourself dividends as compensation rather than drawing a substantial salary.  Ideally, you will begin to draw dividends once you’ve paid yourself a salary…

When we take a new client on one of the first services we will provide, if it hasn’t been carried out by a previous accountant, will be to register your business for HMRC’s Pay As You Earn scheme.  Once you begin to operate as a limited company you can no longer simply draw your wages…