Tax efficient cars for company owners

Who wouldn’t want a company car?  Well, potentially those who don’t like paying more tax than they need to. Many company car drivers will be aware that having a company car can result in significant Income Tax bills. The use of a company car is considered by HM Revenue & Customs (HMRC) to be a …

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Spring Statement 2022 – Key Points

Spring Statement 2022

Chancellor Rishi Sunak delivered his Spring Statement today.  Many were hoping his announcements would help individuals and businesses in the face of increasing costs, with inflation at a 30 year high at 6.2%. Many tax increases have already been announced – with increases to National Insurance from April 2022 to fund the increasing cost of …

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Top 5 Tips to Using Xero Efficently

Liam’s Top 5 Tips to Using Xero Efficiently  After a very stressful and tough two years for all businesses, now more than ever is the time for you to know how your business is doing, and there is no better Accountancy Software than Xero to help.  It can seem to be a daunting task to keep Xero up to date, but here are my top 5 tips …

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Autumn Budget 2021 – Summary for business

We have digested the Budget information and summarised the key points for business below: Corporation Tax – As previously announced the current rate of 19% will increase to a main rate of 25% from 1 April 2023.  The 25% rate will apply to companies with profits above £250,000.  Companies with profits up to £50,000 will be …

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Autumn Budget 2021 – Summary for individuals

We have digested the Budget information and summarised the key points for individuals below: Personal Allowance – It was previously announced the personal allowance would be frozen at the current level of £12,570 until the end of 2025/2026.  This is the amount an individual can earn before paying Income Tax. Income Tax rates – Untouched by the …

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