The UK tax system can be complex, and for those who have assets or income in multiple jurisdictions, it can be particularly challenging to navigate. However, for those who are considered non-domiciled (non-dom) in the UK, there are several effective arrangements that can help to minimize their UK tax liability. What does it mean to … Read more
Giving gifts to charitable organizations is a wonderful way to support the causes that you care about. Not only does it benefit the organizations, but it can also have tax benefits for you as well. In the UK, there are specific rules regarding tax deductible gifts. In this article, we will explore how to give … Read more
A personal service company (PSC) is a type of business structure that has become increasingly popular in recent years, particularly in the UK. A PSC is essentially a limited company that is owned and operated by an individual who provides services to clients. This structure has a number of benefits, including tax efficiency and liability … Read more
You may already be self-employed, running a small business as a sole trader, or evaluating options for a new business idea you have. Whatever stage you’re at, it is worth considering forming a limited company. This type of business structure has several advantages attached to it – limited liability for company debts being the primary one. … Read more
Shareholders (aka ‘members’) usually pay for their company shares when they are issued or transferred, but some companies allow members to partly pay or pay at a later date. Payment for company shares is in the form of cash, which is paid into the company’s bank account, or in exchange for non-cash consideration, such as … Read more
New Job Support Scheme I hope you are well and keeping safe during this outbreak. As you are aware that JRS (furlough scheme) will be finishing from 31 October 2020 which is why the government has announced numerous schemes to avoid mass redundancies. One of that schemes is Job support scheme (JSS), which is slightly different for a business which … Read more
Coronavirus Job Support Scheme – FAQs for UK employers The government’s new Job Support Scheme replaces the furlough scheme and starts on 1 November 2020. It comprises two wage support schemes – a scheme to support businesses required to close as a result of coronavirus restrictions and a scheme to support businesses that can stay … Read more
Have you paid enough tax to ‘cover’ your Gift Aid donations? A client asking why they are being taxed on their gift aid-donation got me to ask, “Have you paid enough tax to ‘cover’ your Gift Aid donations?” HMRC are very keen to ensure that Gift Aid donors are paying enough tax. In recent times, … Read more
‘Bounce back loans’ – help for small businesses Most high street banks have all got their Bounce Back Loan top-up systems live, however as predicted many people are experiencing all manner of problems trying to top up their loans. These Banks are Paying Top-Ups Those of you wondering, these are the banks that are now … Read more
Accountants for Dropshipping Businesses: Work with accountants who understands your business. We know the dropshipping model inside and out. See how we can help your dropshipping business today. What is dropshipping? Dropshipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product using … Read more