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31 Aug 2018

Is the VAT flat rate scheme for me?

The VAT flat rate scheme (FRS) is a simplified VAT scheme that enables VAT registered business to work out how much VAT they need to pay over to HMRC by applying a flat-rate percentage to their VAT-inclusive turnover. However, VAT can...

24 Aug 2018

Employment allowance – have you claimed it?

The employment allowance is a National Insurance allowance which is available to qualifying employers. The allowance reduces employers’ (secondary) Class 1 National Insurance by up to the £3,000.

The allowance is set at £3,000...

17 Aug 2018

Tax-free income from renting out your drive

Your drive may not normally warrant a lot of attention— however, it may have the potential to generate a tax-free income. Parking near to town centres and stations is always limited, and parking is always needed for events. Ow...

3 Aug 2018

Paying family members

Many small businesses, whether incorporated or not, pay family members for working for the business. However, as a recent case shows, it is easy to make mistakes which can prove costly.

The case in question, Nicholson v HMRC (TC06293), concerned the...

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