Cash in hand – beware

September 27, 2016 | by Sian Kelly | No comments

It is sometimes mistakenly believed that you do not need to tell HMRC about payments that you receive in cash. This is not the case and regardless of whether you work for yourself or for someone else, earnings that you receive in cash are taxable in the same way as income paid by cheque, credit card or by bank transfer.

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Why your small business needs Management Accounts

September 27, 2016 | by Sian Kelly | No comments

For small business owners, book-keeping and accounting falls under the category of ‘necessary evil’. It’s just a job that has to be done (or most likely outsourced and paid for) to keep the wolves from the door and fulfil your legal obligations.

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Why won't banks lend to a business?

September 23, 2016 | by Sian Kelly | No comments

How to obtain financing is a common concern for new businesses and those preparing to scale.

Getting approved for a business loan or line of credit is more difficult than qualifying for a personal loan.

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Property losses – what can you do with them

September 20, 2016 | by Sian Kelly | No comments


For income tax purposes, income from land or property in the UK which is owned by the same person or group of persons is treated as forming a property rental business. Tax is charged by reference to the profits of the business as a whole, rather than by reference to each individual property.

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Tips to Keep Your Business Finances in Order

September 16, 2016 | by Sian Kelly | No comments

If you’re like most small business owners, you spend the majority of your time managing daily operations, keeping customers happy, and looking for new ways to grow. Spreadsheets, cash flow analysis, and financial projections are probably not your first passion.

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Replacing your main residence-getting the SDLT supplement back

September 13, 2016 | by Sian Kelly | No comments

Since 1 April 2016, higher rates of stamp duty land tax apply to purchases of second and subsequent residential properties where the cost of the additional property is over £40,000 (i.e. virtually all properties).

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What qualifies as a pool car?

September 09, 2016 | by Sian Kelly | No comments

While it is true that there is no benefit in kind tax charge on a pool car, it is frequently the case that the term is used loosely and the `pool car’ may not actually be a pool car at all in the taxman’s eyes.

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No longer your main residence and final period exemption

September 05, 2016 | by Sian Kelly | No comments


While most people know that you do not have to pay capital gains tax on any profit you make on the sale of your main home, it is generally less well known that you can still benefit for the relief for the final period for which you own the property, even if it is not your main residence at that time.

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What is investor relief? - How can you benefit?

September 01, 2016 | by Sian Kelly | No comments

At the time of the 2016 Budget, the then Chancellor, George Osborne, outlined details of a new capital gains tax relief for external investors in unlisted trading companies. The relief aims to attract new capital into unlisted companies.

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