by Terry Phillips | Apr 28, 2023 | accountancy, accountancy software, bookkeeping, Business Owner, corporation tax, Employer, Employment, Employment Allowance, expense claims, expenses, hmrc, Income Tax, tax, tax rebate
Accountants Chester | Tax Tip No. 16 If you incur expenses in doing your job, you may be able to claim tax relief. While the rules governing the availability of relief are strict, the process for claiming relief where it is available is relatively straightforward....
by Mark Phillips | Apr 11, 2023 | Family Business, accountancy, Business Owner, director, dividends, hmrc, Income Tax, making tax digital, MTD ITSA, Profit Extraction, tax, tax rebate
Accountants Chester – Tax Tip No. 14 A popular profit extraction strategy is to pay a small salary and to extract further profits as dividends. Accountants Chester – Why pay a salary? There are a number of benefits of paying a small salary in order to take...
by Terry Phillips | Apr 3, 2023 | dividends, accountancy, Business Owner, director, Income Tax, MTD ITSA, tax, tax rebate
Accountants Chester – Tax Tip No. 13 Accountants Chester – Taxation of dividends in 2023/24 If you have a personal or family company, taking dividends is a popular and tax-efficient way to extract profits. However, while they remain tax efficient, recent...
by Terry Phillips | Mar 18, 2023 | corporation tax, accountancy, Business Owner, hmrc, tax, tax rebate
Accountants Chester – Tax Tip No. 10 Changes to the corporation tax regime come into effect from 1 April 2023 – the start of the financial year (FY) 2023. From that date there will no longer be a single rate of corporation tax; rather, the rate at which a...
by Mark Phillips | Mar 7, 2023 | Employment Allowance, Business Owner, Employer, Employment, hmrc, making tax digital, tax, tax rebate
Accountants Chester – Tax Tip No. 8 The Employment Allowance is an allowance that eligible employers can claim to set against their secondary (employer’s) Class 1 National Insurance liability. The employment allowance is set at £5,000 for 2023/24, capped at the...
