Make it Count 2

Posted in Newsletter at 2018-07-20 by Alan Ovenden

Welcome to our summer edition. While others are perfecting their beach bodies, we hone in on getting your business accounts back on track and in control by the end of summer! To start off with, we encourage you to scrutinise the expenses you are claiming as a company, before providing a refresher on basic business […]

Make it Count

Posted in Newsletter at 2018-04-16 by Alan Ovenden

It’s a great time to think about the year ahead, as 6 April 2018 marks the beginning of a new tax year. In this issue we give you everything you need to think about to transform your planning into a tax-efficient, profit-maximising future (page 2). Will you be affected by the fall in the tax-free […]

Claiming Capital Allowances Update

Posted in Compliance at 2016-07-29 by Alan Ovenden

There is a growing number of people who are working from home. Some of you will be self-employed while others will start working from home as the CEO of a Limited company or as an employee. One of the benefits of working from home is that you can take some of the costs of equipment, […]

Companies House Annual Confirmation Statement

Posted in HMRC at 2016-07-19 by Alan Ovenden

On the 30th June 2016, the annual return was replaced by the confirmation statement. Limited companies now have to submit the latter instead of the former when they update information on the public register. If you’re not familiar with the changes, then we advise that you should learn them promptly. You can no longer send […]

Retirement Income: Maximising Your Entitlement To State Pension

Posted in Sole Trader at 2016-06-30 by Alan Ovenden

For many, the state pension is the central part of their retirement funds. For those who retired last year, a third of their total retirement income was derived from the state pension according to research from Prudential. For just 15% of all retirees, the state pension is their sole retirement income. This isn’t a significant […]

Sole Trader V Limited Company

Posted in Compliance Limited Salary PAYE Sole Trader at 2015-10-04 by Alan Ovenden

Introduction One question that I am frequently asked as an accountant concerns the issue on deciding whether to trade as a limited company or sole trader. Knowing when to incorporate is not an exact science. Apart from the savings on tax and national insurance contributions there are many other factors to consider and incorporation is […]

Thoughts from an Accountant

Posted in Accounting Compliance HMRC at 2015-05-01 by Alan Ovenden

Every business is required by law to keep accurate records of their income and expenditure. Apart from recording the financial transactions of the business, owners and managers also need to have an understanding of how their organisation works in order to provide accurate and timely figures enabling them to see how well, or otherwise, the […]

One Person Director Shareholder Company – Optimal Salary 2015/16

Posted in PAYE at 2015-04-10 by Alan Ovenden

Having just completed all the year-end returns for my PAYE clients I thought it was worth sharing my thoughts on the optimum salary for a one shareholder director company for the current financial year. For the purposes of this exercise I am assuming that the director shareholder has no other income other than a salary […]

Preparing for a PAYE Inspection

Posted in Compliance HMRC PAYE at 2015-02-10 by Alan Ovenden

If you have experienced a visit from an HMRC “employer compliance review” inspection you will know they have come to look at more than your payroll records. The scale and scope of their review is likely to be far more wide ranging and is likely to cover areas such as: Employment status Expenses and reimbursement […]

Buy to Let Landlords Facing a Crack Down From HMRC

Posted in HMRC at 2014-07-28 by Alan Ovenden

If you are a buy to let landlord or second home owner renting out property and have yet register with HMRC you most likely have not declared any profit liable to income tax from renting your property. You should be aware that HMRC are now targeting defaulting landlords in a new crackdown on rental income […]