by Terry Phillips | May 23, 2023 | accountancy, Accountants, bookkeeping, Business Owner, expense claims, expenses, Income Tax, Instagram, making tax digital, MTD ITSA, Self employed, social media, Sole trader, tax, tax rebate
Accountants Chester | Instagram Income Accountants Chester | How to Declare Instagram Earnings in the UK If you are an Instagram influencer in the UK, you may be wondering how to declare your earnings to HMRC. Here is a guide to help you do just that. Accountants...
by Terry Phillips | May 8, 2023 | mileage rates, accountancy, business management, Business Owner, Employer, Employment, Employment Allowance, expense claims, expenses, hmrc, Income Tax, making tax digital, partner, tax, tax rebate
Accountants Chester | Tax Tip No. 18 Employees often need to undertake business trips and it is common practice to reimburse the employee’s fuel costs by means of a mileage allowance. The tax rules allow mileage payments to be made tax-free up to certain limits....
by Mark Phillips | Apr 17, 2023 | expense claims, accountancy, Employer, Employment, expenses, hmrc, Income Tax, making tax digital, MTD ITSA, National Insurance, tax, tax rebate
Accountants Chester – Tax Tip No. 15 The pandemic changed the way in which many people worked, forcing them to work from home if they could. Post-pandemic, many employees have continued to work from home some or all of the time. Under hybrid working...
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 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...
by Terry Phillips | Mar 2, 2023 | Uncategorized, hmrc, Income Tax, making tax digital, MTD ITSA, tax, tax rebate
Accountants Chester – Tax Tip No. 7 If you have paid too much tax, you will be able to get a refund from HMRC. The mechanics for obtaining your refund depending on how the overpayment arose. Claims must be made within four years from the end of the tax year to... 
