The Latest news from Turner Little
While the beginning of April might conjure up dreams of long awaited spring sunshine and lighter evenings, it is also the start of a brand-new tax year in the UK. And that means changes for everyone. The chances are that
Are you worried about the possibility of leaving your children with a large inheritance tax (IHT) bill? Taking action now could avoid this and put your mind at rest. At Turner Little we can help you come up with a
Research has shown that the average small business owner is spending £5,000 and an astonishing three working weeks on tax compliance every year. This has prompted representatives of small companies in the UK to demand reform. Too many barriers The
The government has made a few tax cuts, specifically abolishing Stamp Duty on properties worth up to £300,000. With many opponents to the idea, should Inheritance Tax (IHT) be the next target for cuts? Here are five reasons why we
There are certain questions all start-ups should ask themselves before they launch, and many of these revolve around tax. Entrepreneurs can underestimate the tax implications that come with running a new business. Here are some key questions that should be
Taxes may be a pain for every business owner, but they are necessary. It can easily feel overwhelming, particularly for small business owners who are trying to keep on top of everything. With new business, employees, pitches, products, and plans
Addressing concerns about timescales, the government has pulled back on the Making Tax Digital initiative, which aims to shift all tax records and payment online. They have now said that the three million small businesses affected by the proposed changes
So, you’ve taken the plunge and started your own business. You have a plan, bank account, insurance and HMRC registration. You may even have your first office and employees. But there’s something you absolutely need to sort out before you
If you’re not sure about the VAT threshold or when you need to register, then you’ve come to the right place. We’ve put together this brief guide to value added tax (VAT), the different rates, when they’re applicable and information
From April 2017 small buy-to-let investors will be hit by gradual tax changes set to slash their profits and increase their tax bill. From April next year the Treasury will start phasing in changes which will eventually see landlords pay
If you run a small business, one of your key duties is to handle its tax matters. If HM Revenue and Customs (HMRC), believes that your firm is failing to meet its tax obligations, they will investigate. This could bring
It can be wise, if you own a small venture, to buy company cars, so you can travel for business-related purposes easily. You may have to pay company car tax on these vehicles however, and this can be complex, so
If your business’ annual turnover eclipses a specific threshold (currently £85,000), you will have to register for Value Added Tax (VAT), which could raise tax costs for your firm. As a small business owner, however, there are various VAT schemes,
More Britons are going self-employed every day, so they can reap the various benefits that being your own boss can bring. New figures have illustrated to the Turner Little team that thousands of people in the UK, especially high—earning professionals
In a recent interview, British Chancellor Phillip Hammond admitted that if Brexit negotiations force the UK to leave the EU’s single market, the country may turn itself into the tax haven of Europe. Hard Brexit Prime Minister Theresa May previously
If you run a limited company, no matter the size of your operations, you are required to pay 20% corporation tax on your profits to HM Revenue & Customs (HMRC). Helping you reduce this financial burden, Turner Little explains how
It is essential that as a small business owner, you learn your tax obligations, otherwise your firm could incur significant financial penalties. You should be aware that 2017 will see a huge shake-up in British tax return reporting, as Whitehall
In April 2017, new tax rules will come into force, which are designed to dissuade buy-to-let landlords from purchasing more residential properties. New evidence suggests that thousands of landlords have decided to form limited companies, in order to avoid these
There are a range of taxes which affect businesses. You could be required to pay income tax as a sole trader, for instance. However, when you become self-employed, you can claim some operating costs against your tax bill, lowering outgoings.
Your firm may be required to register for Value Added Tax (VAT), a tax which suppliers charge consumers when selling products, but only in certain circumstances. In order to help you navigate this complex subject, Turner Little answers five frequently