by Paul Whyatt | Nov 29, 2019 | Other Insights, Personal Tax, Taxation
Dividends can sometimes be difficult to understand. Many SME business owners worry about whether they can pay themselves a dividend, how to go about it and when will the dividend be taxed. It’s certainly possible to get things wrong and then find that a...
by Paul Whyatt | Oct 30, 2019 | Business Advice, Other Insights, Personal Tax, Taxation
For many SME businesses, tax can be such a headache that their business suffers. Here are some of the common mistakes you should avoid. 1. Not hiring a qualified chartered accountant This is a costly mistake for any business owner. There isn’t a more effective...
by Paul Whyatt | Oct 30, 2019 | Personal Tax, Taxation
If you operate your business through a limited company, you should be aware of the optimum salary/dividend mix to extract money from your company in the most tax-efficient way. This usually involves paying yourself a minimal salary and then dividends on top of...
by Paul Whyatt | Jul 22, 2019 | Personal Tax, Taxation
The high income child benefit charge is an income tax charge designed to recover child benefits payments if the recipient or their partner has net income over £50,000 in a tax year. Introduced several years ago, the charge continues to catch out taxpayers. Child...
by Paul Whyatt | Jul 19, 2019 | Personal Tax, Taxation
Well it’s mid-July 2019 already. How many of you have completed your 2018/19 self-assessment tax return? Yes, we know it’s a chore and the filing deadline is 31 January 2020, but what’s stopping you getting it done now? Do you run your own business? How...
by Paul Whyatt | Jul 16, 2019 | Personal Tax, Taxation
In isolation, an individual tax relief might not seem much, but when you take advantage of the full range of available reliefs by planning your affairs correctly they can add up to a significant amount. Take the Marriage Allowance as a small example. Introduced...
